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Mining Billionaire’s SPAC Readies Funds for Clean-Power Push

  • Ivanhoe Capital looks to raise $200 million, filing shows
  • SPAC may target companies involved in electrification
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Ivanhoe Capital Acquisition Corp., the special purpose acquisition company led by billionaire mining investor Robert Friedland, is raising $200 million to invest in industries key to the global energy transition.

The SPAC plans to target companies in industries related to the “paradigm shift” away from fossil fuels, it said in a U.S. regulatory filing Wednesday. Those may range from miners to end users involved in electrification products and services, according to the filing. Friedland is a founder of Vancouver-based Ivanhoe Mines Ltd., which explores and develops mines in Africa.