Ivanplats raised over US$ 300 million in initial public offering

Canadian junior miner Ivanplats raised US$ 304.7 million in its initial public offering in Toronto, the largest Canadian mining IPO in two years – despite shares were sold at the lower end of the marketed range. Ivanplats is the new company owned by mining mogul Robert Friedland, of Ivanhoe Mines fame. The company plans to use proceeds from the sale for exploration of the Kamoa copper deposit and to complete the purchase of the Kipushi copper-and-zinc mine, both in the Democratic Republic of Congo.