CAPITAL MARKETS

Ivanhoe increases stake in China-focused junior

IVANHOE Mines, chaired by high-profile Canadian Robert Friedland, said yesterday it has agreed to buy another 8.6 million shares in TSX Venture Exchange-listed Pacific Minerals, which is focused on metal exploration in China.

Greg Tubby

The purchase will increase Ivanhoe's stake in the Canadian junior to 38.4% of the issued and outstanding shares, and 42.2% on a fully diluted basis, from its current 15% holding. Ivanhoe said the investment...

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