Deals
China National Gold Said to Talk With Ivanhoe on Congo Mine
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China National Gold Group Corp. is in talks with Robert Friedland’s Ivanhoe Mines Ltd. about buying a stake in a Democratic Republic of Congo copper project, people with knowledge of the matter said.
China’s largest gold producer may seek to acquire about 15 percent of Ivanhoe’s Kamoa project, said two of the people, who asked not to be identified as the talks are private. Ivanhoe is also considering selling a stake in itself, one person said. The Kamoa mine had a net present value of about $2.5 billion after taxes as of November, according to Ivanhoe’s website.