Ivanplats shares rise after IPO values miner over $2.5B
Euan Rocha, Reuters | Oct 17, 2012 3:55 PM ET | Last Updated: Oct 17, 2012 6:34 PM ET - Carla Gottgens/Bloomberg
Ivanplats, the latest venture from mining entrepreneur Robert Friedland, owns the high-grade Kamoa copper deposit in the Democratic Republic of Congo, along with the massive Platreef platinum, gold and copper project in South Africa.
TORONTO — Shares of Ivanplats Ltd , an Africa-focused miner, rose 6.3% on the Toronto Stock Exchange on Wednesday after an initial public offering pegged the value of the company at more than $2.5-billion.
Ivanplats, a venture backed by Robert Friedland – one of the best-known project promoters in the mining industry – announced its long-awaited plan to list in Toronto last month.
Chicago-born Friedland is known across the mining industry for his showmanship and flamboyance, almost as much as for his talent in spotting the potential of some of the world’s biggest deposits, among them the Voisey’s Bay nickel deposit in Eastern Canada and the Oyu Tolgoi copper and gold deposit in Mongolia.
Ivanplats, his latest venture, owns the high-grade Kamoa copper deposit in the Democratic Republic of Congo, along with the massive Platreef platinum, gold and copper project in South Africa. It also owns the Kipushi zinc and copper asset in Congo, as well as other assets spread across Congo, South Africa, Gabon and Australia..
Link: business.financialpost.com/2012/10/17/...lues-miner-over-2-5b/
