{"id":27311,"date":"2022-03-14T21:39:34","date_gmt":"2022-03-14T21:39:34","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/?p=27311"},"modified":"2022-03-14T19:53:45","modified_gmt":"2022-03-14T19:53:45","slug":"canadian-miner-ivanhoe-acquires-stake-in-sa-helium-and-lng-producer-renergen","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/canadian-miner-ivanhoe-acquires-stake-in-sa-helium-and-lng-producer-renergen","title":{"rendered":"Canadian miner Ivanhoe acquires stake in SA helium and LNG producer Renergen"},"content":{"rendered":"

Africa-Press – South-Africa. <\/strong><\/span>Ivanhoe Mines has acquired a 4.35% stake on Renergen, a helium and liquified natural gas (LNG) producer, as part of a strategic partnership could see the Canadian miner ultimately own more than half of the company.<\/p>\n

On Monday Renergen announced Ivanhoe Mines, the developer of the Platreef mine in Limpopo, had acquired the 4.35% shareholding through initial placement of over 5.63 million shares at R35.625 per share, raising R200 million.<\/p>\n

“Ivanhoe will acquire an initial strategic shareholding in the company and, subject to its evaluation of the company and scalability of operations, may thereafter become a strategic partner and major shareholder in Renergen,” Renergen said in a statement.<\/p>\n

The strategic investment agreement further establishes a pathway for Ivanhoe to increase its shareholding in Renergen up to a 25% shareholding through a market-related<\/p>\n

Second Subscription, following completion of 120-day due diligence period which has commenced. Following completion of the Second Subscription, Ivanhoe has the option to increase its shareholding in Renergen up to 55%, by electing to provide equity funding of up to $250 million (about R3.76 billion) for further development and up-scaling of the Virginia Gas Project.<\/p>\n

The deal also progresses funding for the second phase of Renergen’s Virginia gas project.<\/p>\n

Ivanhoe’s investment comes at a time where the current global LNG and helium markets are in shortfall and the Virginia Gas Project in the Free State holds natural gas with some of the richest helium concentrations recorded globally.<\/p>\n

Phase one of the project, which is fully funded and connects gas wells to a small-scale LNG and helium processing plant, is expected to soon start commercial production.<\/p>\n

“In Ivanhoe Mines\u2019 journey toward net zero carbon emissions, liquefied natural gas is a compelling transition fuel to provide base-load power for our Tier-One Platreef palladium, rhodium, nickel, platinum, copper and goldmine,” said Robert Friedland, Ivanhoe Mines\u2019 executive co-chair. “Renergen\u2019s Virginia Gas Project has the potential to provide clean, reliable electricity to augment our own solar-generated power for a 24-hour-a-day alternative to the coal-fired national electrical grid.”<\/p>\n

David King, Renergen chairperson, said the partnership with Ivanhoe “is testament to the great progress that Renergen has made in its transition from explorer to developer of an internationally significant resources project\u201d. Renergen CEO Stefano Marani said the transaction was a landmark deal for Renergen and one that recognises strong synergies with Ivanhoe.<\/p>\n

Anthony Clark of Small Talk Daily Research said the deal legitimises Renergen to the global market.<\/p>\n

“Billionaire founder… Friedland has a history of investing in start-up commodity and alternative energy operations and taking them through to ultimate fruition to sizeable international corporations,” Clark said.<\/p>\n

“What Ivanhoe does is it legitimises a small company operating out of the Free State which is only currently known to Johannesburg and Sydney stock exchanges.”<\/p>\n

For More News And Analysis About South-Africa<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Africa. Ivanhoe Mines has acquired a 4.35% stake on Renergen, a helium and liquified natural gas (LNG) producer, as part of a strategic partnership could see the Canadian miner ultimately own more than half of the company. On Monday Renergen announced Ivanhoe Mines, the developer of the Platreef mine in Limpopo, had acquired […]<\/p>\n","protected":false},"author":84,"featured_media":27310,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[274,315,762,766,767,764,763,765,275],"class_list":["post-27311","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-africa-press","tag-africa-press-south-africa","tag-gas","tag-helium","tag-ivanhoe-mines","tag-mining","tag-renergen","tag-robert-friedland","tag-south-africa-2"],"yoast_head":"\nCanadian miner Ivanhoe acquires stake in SA helium and LNG producer Renergen - South Africa<\/title>\n<meta name=\"description\" content=\"Ivanhoe Mines has acquired a 4.35% stake on Renergen, a helium and liquified natural gas (LNG) producer, as part of a st ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/canadian-miner-ivanhoe-acquires-stake-in-sa-helium-and-lng-producer-renergen\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Canadian miner Ivanhoe acquires stake in SA helium and LNG producer Renergen\" \/>\n<meta property=\"og:description\" content=\"Ivanhoe Mines has acquired a 4.35% stake on Renergen, a helium and liquified natural gas (LNG) producer, as part of a st ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/canadian-miner-ivanhoe-acquires-stake-in-sa-helium-and-lng-producer-renergen\" \/>\n<meta property=\"og:site_name\" content=\"South Africa\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-03-14T21:39:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2022\/03\/img-622f9d24c7618.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1079\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/canadian-miner-ivanhoe-acquires-stake-in-sa-helium-and-lng-producer-renergen#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/canadian-miner-ivanhoe-acquires-stake-in-sa-helium-and-lng-producer-renergen\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Canadian miner Ivanhoe acquires stake in SA helium and LNG producer Renergen\",\"datePublished\":\"2022-03-14T21:39:34+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/canadian-miner-ivanhoe-acquires-stake-in-sa-helium-and-lng-producer-renergen\"},\"wordCount\":478,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/canadian-miner-ivanhoe-acquires-stake-in-sa-helium-and-lng-producer-renergen#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2022\/03\/img-622f9d24c7618.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-South-Africa\",\"gas\",\"helium\",\"ivanhoe mines\",\"mining\",\"renergen\",\"robert friedland\",\"South-Africa\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/south-africa\/all-news\/canadian-miner-ivanhoe-acquires-stake-in-sa-helium-and-lng-producer-renergen#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/canadian-miner-ivanhoe-acquires-stake-in-sa-helium-and-lng-producer-renergen\",\"url\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/canadian-miner-ivanhoe-acquires-stake-in-sa-helium-and-lng-producer-renergen\",\"name\":\"Canadian miner Ivanhoe acquires stake in SA helium and LNG producer Renergen - 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