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CITIC buys 19.9% stake in Africa-focused Ivanhoe Mines

A division of China’s largest conglomerate CITIC Metal has agreed to take a 19.9% stake in southern Africa-focused mega-project developer Ivanhoe Mines.

CITIC buys 19.9% stake in Africa-focused Ivanhoe Mines CITIC buys 19.9% stake in Africa-focused Ivanhoe Mines CITIC buys 19.9% stake in Africa-focused Ivanhoe Mines CITIC buys 19.9% stake in Africa-focused Ivanhoe Mines CITIC buys 19.9% stake in Africa-focused Ivanhoe Mines

The deal will see CITIC Metal become Ivanhoe's single largest shareholder, besting founder and executive chairman Robert Friedland's 17% Ivanhoe stake.

Under terms of the agreement inked...