Ivanplats studying JSE listing

Cape Town - Ivanplats, founded by billionaire mine developer Robert Friedland, is studying a second stock exchange listing in Johannesburg as it advances plans for a new platinum mine in South Africa.

“We have come here as foreign investors and now we are thinking of listing in Johannesburg,” Friedland, chairman of the company, said today at a conference in Cape Town.

Ivanhoe Mines chairman Robert Friedland. Credit: Reuters

“Our old idea was to rush straight to the London stock exchange but having been here with our investors we think perhaps starting with a listing here as a second listing, may be more appropriate.”

Friedland’s Ivanplats last year sold C$300.8 million ($302 million) of stock in Canada’s biggest mining initial public offering since 2010.

Ivanplats is studying development of three assets; a platinum project in South Africa, reopening a mothballed copper-and-zinc mine in the Democratic Republic of Congo as well as the Kamoa copper project in the country. - Bloomberg