The Qatar Investment Authority (QIA) has announced a $500 million investment in Ivanhoe Mines, a Canadian mining firm with major operations across sub-Saharan Africa. The move, revealed on Wednesday, gives the Gulf state’s sovereign wealth fund an estimated 4% ownership in the Vancouver-based company.
In a statement, QIA’s CEO, Mohammed Saif Al-Sowaidi, said the strategic investment aims to support Ivanhoe’s efforts in discovering and sustainably supplying critical minerals that are essential to the global shift toward clean energy and advanced technologies.
Ivanhoe Mines Executive Co-Chairman Robert Friedland described the deal as a vote of confidence in the company’s mission to become a leading source of critical metals including copper and zinc which play a key role in global efforts toward electrification, renewable infrastructure, and next-generation innovations such as artificial intelligence.
“This investment highlights our alignment with partners who share our vision of responsibly powering the future economy,” Friedland said.
Ivanhoe Mines is best known for developing some of Africa’s most significant mineral assets, including:
- Kamoa-Kakula Copper Complex (DR Congo)
- Kipushi Zinc-Copper Mine (DR Congo)
- Platreef Platinum Group Metals Project (South Africa), slated to begin production in 2025
In addition to these flagship ventures, the company is also advancing copper exploration projects in:
- Angola
- Zambia
- Kazakhstan
- and other parts of the Democratic Republic of Congo
Why This Deal Matters
The QIA’s investment comes as global competition for strategic mineral resources intensifies, especially those required for electric vehicles, battery storage, and green infrastructure. Africa’s vast untapped reserves of copper, cobalt, and other essential metals have become focal points for state-backed investors and multinational companies alike.
The move by Qatar also signals growing Gulf interest in resource security and diversification of sovereign wealth portfolios into sectors tied to future technologies.
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