# CITIC to buy 19.9% stake in Ivanhoe Mines for $723 million

A unit of Chinese state-run conglomerate CITIC Ltd will buy a near 20% stake in Canada's Ivanhoe Mines for about $723 million (US$555 million). CITIC Metal will own 19.9% of Ivanhoe Mines' outstanding common shares, becoming its largest single shareholder.

- Type: Acquisition
- Announced: 2018-06-11
- Where: Canada
- Value: $555.0M (723.0M CAD)
- Status: announced
- Products: copper mining projects
- Sectors: [Mining Equipment](https://endata.com/sectors/mining-equipment.md)

## Companies

- [CITIC Metal](https://endata.com/companies/32504.md) (acquirer)
- [Ivanhoe Mines](https://endata.com/companies/32505.md) (target)

## Sources

- [financialpost.com](https://financialpost.com/mining/update-1-chinas-citic-to-buy-20-pct-stake-in-ivanhoe-for-c723-mln/), 2018-06-11: "A unit of Chinese state-run conglomerate CITIC Ltd will buy a near 20 per cent stake in Canada’s Ivanhoe Mines for about $723 million."
- [miningconnection.com](https://miningconnection.com/coal_prep/news/article/citic_metal_to_acquire_20_stake_in_ivanhoe_mines_for_560_million), 2018-06-18: "CITIC Metal to Acquire 20% Stake in Ivanhoe Mines for $560 Million"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.