Ivanhoe CEO heads to DRC this weekend to address confusion

Africa-focused project developer Ivanhoe Mines will send a high-level delegation to the Democratic Republic of Congo (DRC) this weekend to address any “misunderstandings” that might exist between itself and the government following Ivanhoe’s announcement on Monday to sell nearly half of the Kamoa copper project to a Chinese company. Bloomberg reported that the DRC government, which owned a minority stake in the project billed as the world’s largest undeveloped copper deposit, was reportedly sidestepped in discussions between shareholders about the $412-million deal that would see Zijin Group buy a 49.5% stake in Ivanhoe subsidiary Kamoa Holding, which held a 95% stake in the project.