Mining magnate Robert Friedland is said to be planning to list his privately owned iron ore company, Ivanhoe Atlantic, on the Australian Securities Exchange next year. , aims to raise capital for acquiring critical minerals projects in Australia, many of which have been overlooked amid the recent downturn affecting lithium miners and other critical metals projects.
The listing would also coincide with Rio Tinto’s plans to start production at the neighbouring Simandou projectIvanhoe Atlantic, previously known as High Powered Exploration , operates independently of Friedland’s flagship enterprise, the C$25 billion Ivanhoe Mines . The Toronto-based miner owns the Kamoa-Kakula copper complex and the Kipushi zinc mine in the Democratic Republic of the Congo .
. Based on a 2015 report by the United States Geological Survey , Nimba holds roughly one billion tonnes of high-grade iron ore. At full-tilt, the mine is expected to produce 30 million tonnes of high-grade iron ore a year.