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Ivanhoe Mines Ltd. T.IVN

Alternate Symbol(s):  IVPAF

Ivanhoe Mines Ltd. is a Canada-based mining, development, and exploration company. It is focused on the mining, development and exploration of minerals and precious metals from its property interests located primarily in Africa. Its projects include Kamoa-Kakula Complex, Western Foreland, Kipushi and Platreef. The Kamoa-Kakula Complex project is a stratiform copper deposit with adjacent prospective exploration areas within the Central African Copperbelt, approximately 25 kilometers (kms) west of the town of Kolwezi and approximately 270 kms west of the provincial capital of Lubumbashi. The 17 licenses in the Western Foreland cover a combined area of 2,407 square kilometers to the north, south and west of the Kamoa-Kakula Copper Complex. The Kipushi Project lies adjacent to the town of Kipushi and 30 kms southwest of the provincial capital of Lubumbashi. Its Platreef project is situated approximately eight km from Mokopane and 280 km northeast of Johannesburg, South Africa.


TSX:IVN - Post by User

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Comment by ursusbrumaeon Mar 15, 2018 7:17pm
234 Views
Post# 27724240

RE:RE:RE:RE:RE:RE:RE:Definition of courage

RE:RE:RE:RE:RE:RE:RE:Definition of courageMy point is it is very difficult to do business in such countries without making felicitation/facilitation payments.  Western companies have traditionally done business in the customary way.  There are also grey areas, and no company is immune from scrutiny:

https://www.bloomberg.com/news/articles/2017-07-17/ivanhoe-s-congo-success-follows-deals-with-president-s-brother

Glencore is now distancing itself from Dan Gertler and Fleurette, after Gertler has received attention from US authorities, and has had some attention paid in Canada to its dealings through its Katanga subsidiary.

https://www.theguardian.com/business/2017/nov/05/revealed-glencore-secret-loan-drc-mining-rights-paradise-papers

The complicity of Western banks is important for laundering money:

https://www.irishtimes.com/business/financial-services/hsbc-revelations-shine-light-on-secretive-diamond-world-1.2097146

It is not a question of absolutes.  The way business is really done is not transparent to all.  Special interests dictate terms and drive transactions.  The Carter Center and Global Witness estimate that USD 750 million has gone walkabout from Gecamines coffers.  Many foreign mining companies including Ivanhoe have direct partnerships with Gecamines.  Being between the DRC government and quasi-governmental entities, and the CFPOA and other Western authorities and critics is a bit like being between a rock and a hard place.  Who are your friends here?  Depending on the situation, other miners may be competitors or allies, but most have cash flow, which puts them in a much stronger position.
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