Zijin Mining completes purchase of shares of Ivanhoe Mines

On September 19, 2018, Zijin Mining Group Co., Ltd. (“Zijin”), exercised its’ anti-dilution rights and subscribed for approximately 21.2 million common shares of Ivanhoe Mines Ltd. (“Ivanhoe”) at $3.68 per share for a total of approximately $78 million. The subscription by Zijin has resulted in it retaining a 9.7% ownership stake in Ivanhoe. Zijin and Ivanhoe are joint venture partners at the Kamoa-Kakula Project in the Democratic Republic of Congo. Ivanhoe had recently announced a $723 million strategic equity investment by CITIC Metal Co., Ltd. in Ivanhoe, and Zijin had elected to exercise its’ anti-dilution rights to maintain its’ ownership interest in Ivanhoe. Fasken acted for Zijin with a team including John Turner, Michael Boehm, Lei Huang and Janet Howard.