Ivanhoe receives fourth payment from Zijin

Africa focused mining company Ivanhoe Mines has received the fourth of five scheduled payments from Chinese gold, copper and nonferrous metals producer Zijin Mining as part of the latter’s acquisition of a 49.5% stake in Ivanhoe’s Kamoa-Kakula copper project, in the Democratic Republic of the Congo. The Chinese miner paid an initial $206-million at closing in December 2015, followed by three instalments of $41.2-million each in March, July and October 2016.