A world renowned mining company
CITIC Metal Co., Ltd. entered into an agreement with Ivanhoe Mines Ltd. ("Ivanhoe") for the subscription of 19.5% Ivanhoe shares on June 11, 2018. As a result, CITIC Metal becomes Ivanhoe's single largest shareholder upon the closing of the transaction.
Since its founding in 1993, Vancouver-based Ivanhoe has evolved into a world-renowned mineral exploration and mining company and completed a successful IPO in Toronto Stock Exchange（TSX:IVN）in October 2012. Ivanhoe owns three world-scale, high grade mining assets, including Kamoa-Kalula Copper Project (39.6% equity interest), Kipushi Zinc-Copper Project (68% equity interest) in Democratic Republic of Congo and Platreef PGM Polymetal Project (64% equity interest) in South Africa.
The implementation of Ivanhoe project will secure stable supply of copper resources for China's economic development. It indicates CITIC's strong commitment to the "One Belt One Road Initiative" and "China-Africa Development Strategy", and also plays an important role for CITIC Group to achieve disciplined and balanced growth between financial and non-financial businesses. Ivanhoe's world-scale mining assets are likely to become Company's new profit driver and a solid base for capital market participation.
Kamoa-Kakula Copper Project:Ranked as the world's fourth-largest copper discovery, with world's largest, undeveloped, highest-grade copper resources. It contains 42.49Mt of copper metal at an average grade of 2.56%; and is expecting an annual production of 326k tonnes of copper in concentrates during LOM, with a maximum capacity of 540k tonnes in peak years.
Kipushi Zinc-Copper Project:Ranked among the world's top 10, highestgradema jorzincmine. It contains 4.55Mt of zinc metal at an average grade of 35%; and is expecting an annual production of 225k tonnes of zinc metal in concentrates during LOM, with a maximum capacity of 260k tonnes in peak years.
Platreef PGM Polymetal Project:Ranked among the world's top 10 largest production scale of platinum-group metals mine. It contains 2.95kt of (3PE+Au) metal at 3.5g/t; and is expecting an annual production of 14.8 tonnes of (3PE+Au) metal in concen tratesduring LOM, with a maximum capacity of 18 tonnes in peak years.