RE:Citic ownership standstill?April 25, 2019 NR
CITIC Metal and Mr. Friedland are subject to standstill provisions. When the placement is completed, CITIC Metal’s standstill provision will be amended to a maximum ownership stake of 29.9%. Both standstills also will be extended until January 8, 2023. The standstill period has been agreed to be lengthened to provide sufficient time to bring the Kamoa-Kakula Project’s 6 Mtpa high-grade copper mine at the Kakula deposit to production, and to advance the first of its subsequent, planned expansions, as well as the Kipushi and Platreef projects. It is expected that Ivanhoe Mines’ entire shareholder base will benefit from the economic growth and significant cash flows that result from commercial production at three mines.