Ivanhoe Mines says committed to selling copper project stake to Congo

Wed Jun 17, 2015 10:47am EDT
 
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June 17 (Reuters) - Ivanhoe Mines Ltd said it was committed to selling up to a further 15 percent stake in its Kamoa Copper Project to the Democratic Republic of Congo, a day after the government expressed concern about another stake sale to a Chinese company.

The government already owns a 5 percent stake in the project.

Vancouver-based Ivanhoe said last month that it would sell a 49.5 percent stake in the project's holding company to China's Zijin Mining Group Co Ltd for $412 million.

The Democratic Republic of Congo said on Tuesday that the stake sale to Zijin should be suspended until concerns raised by the government are resolved. (Reporting by Anet Josline Pinto in Bengaluru; Editing by Simon Jennings)