Ivanhoe partners with Chinese mining conglomerate
The two companies are looking for interesting projects in Africa.

Canada's Ivanhoe Mines announced an agreement with China Nonferrous Metal Mining (Group) Co. Ltd (CNMC) on Tuesday, under which the companies would jointly seek out African mining projects for exploration, development or acquisition. Ivanhoe co-chairs Robert Friedland and Yufeng Sun said the companies, both of which operate in the Democratic Republic of the Congo, would also explore manufacturing, smelting and logistics opportunities as part of the strategic partnership. Friedland hinted at possible mergers that could result from the deal with CNMC, and said the partnership will begin by "exploring the synergies between the operations currently owned by our two companies." CNMC Chairman Wang Tongzhou said, "I firmly believe that working together is the best way to achieve the goals of both companies." Ivanhoe has previously stated that it is in discussions with companies about its projects in Kipushi and the Western Forelands in the Congo, as well as its Platreef project in South Africa. In January, CNMC launched the first large copper smelter in the Congo, the Lualaba Copper Smelter, 45 km from Ivanhoe's Kamoa-Kakula copper joint venture with Zijin Mining in the country's southern copper belt. CNMC is also the majority owner of the Deziwa copper and cobalt mine and processing facility, a joint venture with Congo's state-owned mining company Gécamines, which began production in January.





