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Ivanhoe Mines Ltd. says it plans to get “strategic advice” to deal with the unsolicited interest the company and its projects have received in recent months.
Robert Friedland, executive chairman of the Vancouver-based company, said on Monday it’s likely an investment bank will be hired and its mandate will be to advise the board on all strategic options for Ivanhoe.
One of Ivanhoe’s key projects is the Kakula high-grade copper deposit in the Democratic Republic of Congo. “The mining industry has taken notice of our company,” Mr. Friedland said in a news release.
“Our remarkable Kakula Discovery on the Central African Copperbelt certainly is helping to generate attention. We have received a number of unsolicited inquiries from significant mining industry participants in Asia, Europe, Africa and elsewhere. In response, our board has taken the prudent decision to seek strategic advice.”
Mr. Friedland made his name with the $4.3-billion sale of the Voisey’s Bay nickel-copper-cobalt discovery in northern Labrador to Inco Ltd. in 1996.
Ivanhoe said on Monday it also has started investor and banking analyst tours of its projects, including Kakula.
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