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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

Post by bogfiton Feb 23, 2024 5:19pm
154 Views
Post# 35896566

Democratic Republic of the Congo: $13.1 billion total debt

Democratic Republic of the Congo: $13.1 billion total debt

"The Democratic Republic of the Congo (DRC) is thought to have racked up debts of more than $13 billion to China over the last two decades, much of which is related to mining and infrastructure investments.

As part of its BRI loan, DRC is one of many countries that, according to the AidData report, is required to "keep a minimum cash balance equivalent to 20% of its total outstanding debt under multiple China Eximbank loan agreements in an offshore, lender-controlled escrow account."

In periods of economic downturn or financial distress, meeting these requirements is increasingly difficult for borrowers, stifling potential economic growth that could otherwise help to pay back the loans and resulting in a never-ending cycle. At the same time, other lenders are hesitant to offer bailouts because the escrow accounts place China first in line for payment should the country default on its loans. As a result, many critics have referred to the BRI as a "debt trap." 

Earlier this year, it was reported that foreign cash reserves had dropped by more than 50% in the DRC, amid fears it’s only a matter of time before the impoverished nation runs out of money for essential imports such as food and fuel."

These Countries Owe China Billions. Some Are Struggling To Pay (msn.com)

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