The IPO, expected before June, marks Friedland’s latest effort to expand his influence, this time leveraging Australia’s expertise in iron ore and critical minerals. The move will offer Australian investors exposure to Ivanhoe Atlantic’s Nimba iron ore project in Guinea.
The listing would also coincide with Rio Tinto’s (ASX, LON: RIO) plans to start production at the neighbouring Simandou project before the end of 2025.
Ivanhoe Atlantic, previously known as High Powered Exploration (HPX), operates independently of Friedland’s flagship enterprise, the C$25 billion ($18bn) Ivanhoe Mines (TSX: IVN).
The Toronto-based company owns the Kamoa-Kakula copper complex and the Kipushi zinc mine in the Democratic Republic of the Congo (DRC). It also has a majority stake in the Platreef platinum-group metals, nickel, copper and gold project in South Africa.
Unlike Simandou, which requires a 650-kilometre…
