Ivanhoe advisers contacted potential investors for some assets
Ivanhoe Mines Ltd., the mining company founded by billionaire Robert Friedland, said its advisers contacted potential investors for some assets, including its 57 percent stake in coal producer SouthGobi Resources Ltd. The advisers “worked with the company to evaluate direct, unsolicited expressions of interest received from a number of international companies,” Vancouver-based Ivanhoe said yesterday in an e-mail to Bloomberg News. The advisers “initiated contacts with potential investors to help gauge broader industry interest” in Ivanhoe assets excluding its stake in the Oyu Tolgoi copper and gold mine in Mongolia.“No specific transaction is considered imminent at this time,” Ivanhoe said.
Ivanhoe said in January last year it hired Citigroup Inc. and Hatch Corporate Finance to advise on “strategic options” including the sale of units and other interests.
SouthGobi Chief Executive Officer Alexander Molyneux wasn’t immediately available for comment at his Hong Kong office outside of normal business hours.
Rio Tinto Group, which last month raised its stake in Ivanhoe to 48.5 percent, is leading construction of Oyu Tolgoi.
Ivanhoe said in January last year it hired Citigroup Inc. and Hatch Corporate Finance to advise on “strategic options” including the sale of units and other interests.
SouthGobi Chief Executive Officer Alexander Molyneux wasn’t immediately available for comment at his Hong Kong office outside of normal business hours.
Rio Tinto Group, which last month raised its stake in Ivanhoe to 48.5 percent, is leading construction of Oyu Tolgoi.
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