On March 23, 2015, Zijin Mining Group Co., Ltd. announced that it agreed to pay C$105 million (US$85 million) to acquire a 9.9 % stake of Ivanhoe Mines Ltd., helping billionaire Robert Friedland’s explorer push forward with projects in Africa.
Zijin is one of the largest gold producers in China, the country’s second-largest primary copper producer and a major zinc producer. In addition to its portfolio of producing assets in China, Zijin also controls or has interests in existing mines in Australia, Russia, Tajikistan and Kyrgyzstan, and is participating in mine development projects in Canada, the Democratic Republic of Congo and Peru. The company’s shares trade on the Shanghai and Hong Kong stock exchanges.
Zijin Mining continues to be advised by a Fasken Martineau team led by Michael Boehm, Lei Huang, Daye Kaba, Michael Bourassa, Kadiatou Sow and Alexandra Lazar.
