Mentioned:
The sovereign wealth fund of Qatar is pouring half a billion dollars into a publicly traded mining company. But, why?
What’s happening:
- Ivanhoe Mines (TSX: IVN) has landed a new $500M USD strategic investment from the Qatar Investment Authority
By the numbers:
- The Qatar Investment Authority acquired 57.5M common shares of Ivanhoe Mines for $12.00 CAD per share and now owns roughly 4% of the entire company
Why it matters:
- This is one of the single largest investments into a mining company that Qatar’s sovereign wealth fund has ever done
Going deeper:
- Ivanhoe Mines notably owns the Kamoa-Kakula Copper Complex located in the Democratic Republic of Congo which is one of the single largest high grade copper mines in the entire world
- Ivanhoe Mines has also publicly stated they plan to explore future collaborations directly with the Qatar Investment Authority for new critical mineral projects
