Funds for investments Canadian miner Ivanhoe Mines says has obtained a loan of $100 million from its Chinese partner CITIC Metal to advance the company’s exploration and development activities.
“Ivanhoe’s projects are three of the world’s best undeveloped mining assets. CITIC Metal Group committed to this interim funding in order that our projects continue to advance on schedule, and CITIC Metal Group has delivered,” Robert Friedland, the executive chairman of Ivanhoe Mines, said in a statement.
CITIC is China’s largest conglomerate, focused on financial services, energy and resources, engineering contracting, real estate, and man-ufacturing.