Qatar’s sovereign wealth fund plans to invest $500 million for a 4% stake in Canada’s Ivanhoe Mines, which has projects in the Democratic Republic of Congo and South Africa.
The proceeds will be used to fund the exploration and development of mines for metals such as copper, palladium, nickel, and zinc, all critical for the energy transition and data centers.
Like the Qatar Investment Authority, other Gulf investors have been pouring capital into African resources: Emirates Global Aluminium is planning a major investment in a bauxite project in Ghana, and Abu Dhabi’s International Resources Holding agreed to buy a majority stake in a DRC tin producer.