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Ivanhoe Mines states the placement transaction with CITIC Metal has received all necessary recordals and registration in China.
Robert Friedland, executive chairman of Ivanhoe Mines, and CEO Lars-Eric Johansson say CITIC has provided Ivanhoe Mines with a loan of US$100 million.
CITIC Limited has completed due diligence and has received approvals to complete the long-term, strategic cooperation and investment agreement with Ivanhoe Mines.
Negotiations are ongoing with government agencies – Gécamines, Ivanhoe Mines partner at Kipushi and Société Nationale des Chemins de Fer du Congo, the DRC's national railway company – and potential project financiers to advance agreements to launch commercial production at Kipushi.