CITIC Completes Due Diligence on Ivanhoe Mines Deal

Robert Friedland, Executive Chairman of Ivanhoe Mines (TSX:IVN), and Lars-Eric Johansson, Chief Executive Officer, announced today that CITIC
Metals, a wholly-owned subsidiary of CITIC (HKEX:0267), has completed its confirmatory due diligence and has received CITIC internal approvals necessary to complete the long-term, strategic cooperation and investment agreement with Ivanhoe Mines valued at C$723 million.

According to Ivanhoe the funds will be used to advance the company’s three development projects in Southern Africa.

Ribert Friedland said:

“Working together, we will build innovative, environmentally-and socially-responsible mines that will contribute to economic transformations in Southern Africa and China.”

Click here to read the full Ivanhoe Mines (TSX:IVN) press release.