Billionaire Friedland’s iron-ore miner seeks up to A$300m in Australia IPO
Mining billionaire Robert Friedland’s latest venture, iron-ore producer Ivanhoe Atlantic, is seeking to raise as much as A$300-million from an initial public offering (IPO) in Australia, people familiar with the matter said. Proceeds will be used to fund the development of the Kon Kweni project in Guinea, a major undeveloped iron-ore deposit in West Africa previously known as Nimba. Rio Tinto Group’s giant Simandou iron-ore project, also in Guinea, is expected to begin production this year.
Mining billionaire Robert Friedland’s latest venture, iron-ore producer Ivanhoe Atlantic, is seeking to raise as much as A$300-million from an initial public offering (IPO) in Australia, people familiar with the matter said.
Proceeds will be used to fund the development of the Kon Kweni project in Guinea, a major undeveloped iron-ore deposit in West Africa previously known as Nimba. Rio Tinto Group’s giant Simandou iron-ore project, also in Guinea, is expected to begin production this year.
