Osborne Mine

Barrick (NYSE:ABX) Finishes Sale of Osborne Mine to Ivanhoe Australia (ASX:IVA)

Mining giant Barrick Gold (NYSE:ABX) has finished its sale of the Osborne copper/gold mine, based in Queensland, to Ivanhoe Australia (ASX:IVA). Ivanhoe Australia CEO Peter Reeve said, “The acquisition of the Osborne copper/gold operation has fundamentally altered Ivanhoe Australia’s development path and will allow us to become a significant base-metals producer much earlier than we originally

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Ivanhoe Australia Raising $211 Million for Osborne, Merlin Acquisitions

Ivanhoe Australia, whose biggest stakeholder is Ivanhoe Mines (NYSE:IVN), will via an institutional placement raise $211 million for acquisitions and expansion.The particular acquisition they’re looking at is the Osborne gold project, and the development side is the Merlin molybdenum project. Part of the capital will also be used to pay down some of the debt Ivanhoe Australia owes to Ivanhoe

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Ivanhoe (NYSE:IVN) Approved for Osborne Acquisition from Barrick Gold (NYSE:ABX)

Ivanhoe (NYSE:IVN) has been approved by the Foreign Investment Review Board (FIRB) of Australia to acquire the Osborne copper and gold project in Queensland, owned by Barrick Gold Corporation (NYSE:ABX). Approval from the FIRB was required because Ivanhoe has an 81 percent stake in Ivanhoe Australia.Other than approval from the FIRB, the remaining condition to complete the deal would be approval

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