Ivanhoe Mines(TSX:IVN)

Ivanhoe Mines is a leading diversified mining company focused on discovering, developing and producing the critical resources essential for a low-carbon future.

Investor website: https://www.ivanhoemines.com/

About

Ivanhoe Mines is a leading diversified mining company focused on discovering, developing and producing the critical resources essential for a low-carbon future. With a portfolio of tier-one assets, the company provides exposure to copper, zinc, nickel, palladium, platinum, rhodium, and other green metals. Ivanhoe believes that mining, done right, with purpose, vision, and a commitment to environmental and social responsibility, will play a significant role in the world’s transition to clean energy.

Verified company data

Cash position
$497 million
Shares outstanding
1.43b
Fully diluted shares
1,428.6M
Mineral resource
Platreef’s Indicated Mineral Resources contain an estimated 26.8 million ounces of palladium, 25.6 million ounces of platinum, 4.5 million ounces of gold, and 1.8 million ounces of rhodium (a combined 58.7 million ounces of PGM plus gold), plus 4.1 billion pounds of nickel and 2.1 billion pounds of copper, at a cut-off grade of 1 gram per tonne. Platreef’s Inferred Mineral Resources contain an additional 43.0 million ounces of palladium, 40.4 million ounces of platinum, 7.8 million ounces of gold, and 3.1 million ounces of rhodium (a combined 94.3 million ounces PGMs plus gold), plus 7.7 billion pounds of nickel and 4.1 billion pounds of copper, also at a cut-off grade of 1 gram per tonne. At the base-case cut-off grade of 2 grams per tonne, Indicated Mineral Resources contain an estimated 42.0 million ounces of PGMs plus gold, plus 2.4 billion pounds of nickel and 1.2 billion pounds of copper, with an additional 52.8 million ounces of PGMs plus gold, 3.4 billion pounds of nickel and 1.8 billion pounds of copper in Inferred Resources. Platreef’s T1 and T2 high-grade mineralized zones interpreted as much thicker versions of the high-grade mineralized reefs found on the Western and Eastern limbs of South Africa’s Bushveld Complex.
Projects
["Kamoa-Kakula Copper Complex\nOwnership: Ivanhoe Mines 39.6%\nZijin Mining 39.6% | Crystal River 0.8% | DRC Government 20%\nKamoa-Kakula is the highest-grade, lowest-carbon-emitting major copper mine. Located in the Central African Copperbelt, the project commenced commercial production in July 2021 and was significantly expanded with the successful commissioning of the Phase 3 concentrator in August 2024, positioning Kamoa-Kakula as a world-class, long-life copper producer.\n\n$3.28 Billion\nRecord annual revenue recognized in 2025\n\n$1.45 Billion\nKamoa-Kakula's EBITDA for 2025\n\n388,838\nTonnes of copper produced in 2025\n\n290kt to 330kt\nKamoa-Kakula's 2026 copper production guidance\n\n$2.16\nKamoa-Kakula 2025 cash cost per lb. of copper\n\n$2.60 - $3.00\nKamoa-Kakula's 2026 cash cost guidance per lb. of copper\n\nPlatreef PGM-Nickel Mine\nOwnership: Ivanhoe Mines 64%\nB-BBEE Partners 26% | Japanese Consortium led by ITOCHU Corporation 10%\nPlatreef is the world's largest undeveloped precious metals project. It is a tier-one discovery of platinum-group metals, nickel, copper and gold on the Northern Limb of South Africa’s Bushveld Igneous Complex, the world’s premier platinum producing region. Platreef is distinguished from other Bushveld projects by its remarkable combination of grade, thickness, geometry, scale and potential for significant nickel and copper by-product credits.\n\n\n770kt\nPlatreef's Phase 1 concentrator milling capacity\n\n4.1mtpa\nTotal combined processing capacity of Phase 1 and 2 concentrators\n\n450koz\nAverage annual production in ounces of 3PE+Au in Phase 2\n\n93moz\nMineral Resource Base 3PE+AU\n\n2.7mt\nMineral Resource Base of Nickel\n\n10.7mtpa\nPhase 3 expansion processing capacity as covered in 2025 Preliminary Economic Assessment\n\nConstruction of Phase 1 concentrator was completed early in the third quarter of 2024. Cold commissioning started in July 2024, and the Phase 1 concentrator produced the first batch of platinum-palladium-nickel-rhodium-gold-copper concentrate on November 18, 2025, during the official opening ceremony.\n\nThe construction of Shaft #3 was completed in late March 2026, and will boost Platreef Mine’s hoisting capacity to 5 million tonnes per annum (Mtpa) – five times its current level. This new shaft will streamline the movement of both ore and waste to the surface, bringing greater efficiency and flexibility to Platreef’s operations.\n\nKipushi Zinc Mine\nOwnership: Ivanhoe Mines 62%\nGécamines 38%\nThe Kipushi zinc-copper-germanium-silver-lead mine in the Democratic Republic of Congo is the world’s highest-grade zinc mine. The 800,000-tonne-per-annum concentrator was completed in May 2024, with first concentrate produced in June 2024. The state-of-the-art plant incorporates dense media separation, milling, and flotation, targeting industry-leading recoveries of 96% and an average concentrate grade of 55% contained zinc. Kipushi is expected to produce more than 278,000 tonnes of zinc in concentrate over its first five years, with 2026 production guidance of 240,000 to 290,000 tonnes.\n\n\n35.34% zinc\nAverage grade over the first five years of production\n\n800kt\nCapacity per-annum of the new zinc concentrator\n\n203,168 tonnes\nKipushi's 2025 zinc production\n\n11.8 Million\nMeasured and Indicated Mineral Zinc Resources\n\n240kt to 290kt\nKipushi’s 2026 zinc production guidance\n\n$91 million\nKipushi's EBITDA for 2025\n\nWestern Forelands Copper Exploration\nOwnership: Ivanhoe Mines 54-100%\nThe Western Forelands Exploration Project consists of a licence package covering 2,393 square kilometres adjacent to the Kamoa-Kakula Copper Complex in the Democratic Republic of the Congo. The area of the Western Forelands licence package is approximately six times larger than that of the Kamoa-Kakula Copper Complex. Ivanhoe Mines is exploring for new sedimentary copper discoveries, as well as expanding and further defining its high-grade Makoko, Kiala, and Kitoko copper discoveries.\n\nIvanhoe’s 2025 exploration program totalled 52,870 metres of diamond drilling and 7,150 metres of reverse circulation drilling. The drilling program consisted of expanding the Makoko District Mineral Resource footprint, as well target new high-grade copper discoveries elsewhere across the vast licence package. Eight diamond drill rigs were operational at the end of 2025."]
Leadership
Director Background / Information / Track Record: Robert Friedland Founder, Executive Co-Chairman and Non-Independent Director For more than 30 years, Mr. Friedland has been recognized by leaders of the international financial sector and mineral resource industries as an entrepreneurial explorer, technology innovator and company builder. He has successfully developed a portfolio of respected public and private companies whose initiatives have led to several of the world’s most significant mineral discoveries and mine developments, applications of disruptive technologies and contributions to significant economic growth in established and emerging markets in the Asia Pacific Region, Southern Africa and the Americas. Weibao Hao Non-Executive Co-Chairman, and Director Mr. Hao Weibao, aged 54, joined CITIC Limited (Stock Code: HK 267) (a company listed on the Main Board of Hong Kong Stock Exchange) and its subsidiaries (the “CITIC Group”) since April 2008. Since April 2023, he has been serving as the Vice Chairman and General Manager of CITIC Metal Group Co., Ltd. and the Chairman and President of Hong Kong Stock Exchange listed company CITIC Resources Holdings Limited (Stock Code: HK 1205). He served as the Assistant to the General Manager, subsequently as the Deputy General Manager and then as the General Manager of CITIC Investment Holdings Ltd. between 2008 and 2015, during which period Mr. Hao also served as the General Manager of CITIC Environment Protection (Investment) Co., Ltd.. He served as the Chairman and General Manager of CITIC Environment Investment Group Co., Ltd. from 2015 to 2023. Prior to joining the CITIC Group, Mr. Hao held several positions at Sinopec Engineering Incorporation from July 1992 to November 1997, and was mainly in charge of financial and project management. Mr. Hao worked at China International United Petroleum and Chemical Company Limited (“UNIPEC”) as a Director and the Chief Financial Officer of the United Kingdom branch (“UK Branch”) from December 1997 to April 2002, the Deputy General Manager of the UK Branch from April 2002 to June 2006, the Deputy Manager of the crude oil department of the head office from September 2005 to March 2007, the acting General Manager of the UK Branch from June 2006 to February 2007, and the Vice Chief Accountant of the head office from March 2007 to March 2008. During his employment at UNIPEC, he was mainly responsible for financial management, futures market operation and internal risk control. Mr. Hao has over 30 years’ experience in overseas business management, financial management, investment and project management, international financing, and international trading. Mr. Hao holds a Bachelor degree of Economics from Jiangxi University of Finance and Economics, a Master’s degree in Business Administration from Chinese University of Hong Kong and a Doctor of Philosophy degree awarded by the University of Chinese Academy of Sciences. Tadeu Carneiro Lead Independent Director, Member of Technical Committee, Member of Compensation and Human Resources Committee and Member of Nominating and Corporate Governance Committee About Tadeu Carneiro became a Director on the Ivanhoe Mines Board in September 2018. He was appointed Lead Independent Director in April 2019. He is Chief Executive Officer of Boston Electrometallurgical Corporation, and an invited lecturer in the Department of Materials Science and Engineering at the Massachusetts Institute of Technology. Before retiring as Chief Executive Officer of Companhia Brasileira de Metalurgia e Mineração (CBMM) in December 2016, Mr. Carneiro spent 30 years with the company in progressively senior leadership positions. He is a Fellow of the Institute of Materials, Minerals and Mining in the United Kingdom. Dr. Chun (James) Wang Non-Independent Director Dr. Wang earned his Ph.D. in Chemistry from the Chinese Academy of Sciences in Beijing, following a bachelor’s degree in Chemistry from Central South University. In his current role as Vice President of Zijin Mining, Dr. Wang leads the company’s international business initiatives and serves as a key member of the Project Committee at Kamoa Holding Limited. His exceptional operational track record includes serving as General Manager at GoldMountains HK International Mining Co Ltd., where he cross-managed overseas assetsand oversaw acquisitions, financial investments, and legal compliance activities for Zijin Mining Group’s Hong Kong-listed operations. Additionally, Dr. Wang demonstrated his leadership capabilities as Chief Executive Officer of Continental Gold Colombia Branch, Zijin Mining Group, from October 2019 to March 2022. Martie Janse van Rensburg Independent Director, Chair of Compensation and Human Resources Committee and Chair of Audit Committee Martie Janse van Rensburg joined the Ivanhoe Mines board of directors in August 2020. Ms. Janse van Rensburg is a Chartered Accountant based in Johannesburg South Africa. She has over 40 years of experience in finance and more than 25 years’ experience in senior-level executive positions and as a director with a number of leading South African companies, with a particular focus on capital markets, project finance and infrastructure development. Since 2008, Ms. Janse van Rensburg has worked as an independent consultant to government, banks, and companies with respect to governance, water, financial, funding and institutional arrangements and transformation. She last served as a consultant to ASISA (Association for Savings and Investment South Africa) to promote investment in water infrastructure from 2016 to 2019. Previous to this, Ms. Janse van Rensburg worked for Trans Caledon Tunnel Authority, a South African state-owned entity charged with financing and implementing mega bulk raw water infrastructure projects, from 1994 – 2008; initially as its Chief Financial Officer until1998 and then as its Chief Executive Officer from 1998 to 2008. Ms. Janse van Rensburg is a member of the Institute of Chartered Accountants (South Africa) and the Institute of Directors. She holds a Bachelor of Commerce degree and a Bachelor Honours of Commerce degree and a Certificate in the Theory of Accounting (CTA). She qualified as a Chartered Accountant in 1987. Most recently, in 2023, Ms. Janse van Rensburg completed her Global Competent Boards Designation and Certificate with a focus on ESG. Xianwen Wu Non-Independent Director Xianwen Wu has served on the Ivanhoe Mines board of directors since November 2025. He is the General Manager of CITIC Metal Group and Chairman of CITIC Metal Co., Limited. Mr. Wu began his career at CITIC Metal in 1994 and has held a series of leadership roles across the organization, including Vice General Manager in 2009 and General Manager in 2014. He was appointed CPC Party Secretary and Chairman of the Board in 2016, and became General Manager of CITIC Metal Group in 2024. Mr. Wu brings more than three decades of expertise in international commodity trading, mining investment, and enterprise management. He holds a Bachelor of Engineering in Industrial Electrical Automation from Xi’an University of Architecture and Technology. Peter Meredith Independent Director, Member of Audit Committee Peter Meredith has served as a Director of the current Ivanhoe Mines and its corporate predecessors, including Ivanplats, since May 1998. He also was involved in overseeing business development and corporate relations for the original Ivanhoe Mines in his dual roles as Deputy Chairman of the Board of Directors and Chief Financial Officer (CFO). He was a Director and CFO from May 2004 to May 2006, and from June 1999 to November 2001. He was Deputy Chairman from May 2006 until April 2012, when Rio Tinto acquired control of the original Ivanhoe Mines and renamed it Turquoise Hill Resources later that year. Mr. Meredith also was Chairman of Asia-focused SouthGobi Resources, a former subsidiary of the original Ivanhoe Mines, until September 2012, and Chief Executive Officer from June 2007 to October 2009. Before joining Ivanhoe Mines, Mr. Meredith spent 31 years with Deloitte LLP, chartered accountants, and retired as a partner in 1996. Mr. Meredith was certified as a Chartered Accountant by the Canadian Institute of Chartered Accountants in 1968. Dr. Phumzile Mlambo-Ngcuka Independent Director, Chair of the Sustainability Committee and Member of the Nominating and Corporate Governance Committee Dr. Phumzile Mlambo-Ngcuka is the former United Nations (“UN“) Under-Secretary-General and Executive Director of UN Women from August 2013 to August 2021, where she served as a global advocate for women and girls by establishing initiatives such as the HeForShe for men and boys to address gender equality. She was appointed Chancellor of the University of Johannesburg in January 2022. From June 2005 to September 2008, she served as Deputy President of South Africa, overseeing programs and policies to reduce inequality, with a particular focus on women. Before this, she served as Minister of Minerals and Energy from June 1999 to June 2005 and Deputy Minister in the Department of Trade and Industry from 1996 to 1999. She was a Member of Parliament from 1994 to 1996 as part of South Africa’s first democratic government. Ms. Mlambo-Ngcuka began her career as a teacher and gained international experience as a coordinator at the World YWCA in Geneva, where she established a global programme for young women. She is the founder of the Umlambo Foundation, which supports leadership and education. A long-time champion of women’s rights, she is affiliated with several organizations devoted to education, women’s empowerment and gender equality. Ms. Mlambo-Ngcuka completed her PhD in Technology and Education at the University of Warwick, United Kingdom and holds a Bachelor of Arts degree in Social Science and Education from the National University of Lesotho. She also is a Hauser Leader at the Harvard Kennedy School’s Center for Public Leadership. Kgalema Motlanthe Independent Director, Member of Sustainability Committee and Member of the Nominating and Corporate Governance Committee Kgalema Motlanthe became an Ivanhoe Mines Director in April 2018. Mr. Motlanthe was President of South Africa for a period between 2008 and 2009, and subsequently served as the nation’s Deputy President from 2009 to 2014. He heads the Motlanthe Foundation that is dedicated to a range of public-benefit activities, including conflict resolution, promotion of human rights and democracy and the provision of care for pre-school-age children, along with buildings, equipment and educational support for public primary schools. Mr. Motlanthe also is a trustee of Liliesleaf Trust and the Brazzaville Foundation. Mr. Motlanthe led the African Union’s Election Observer Mission to Sierra Leone to help ensure that the 2018 Presidential run-off election complied with international standards. He was Deputy President of South Africa’s ruling African National Congress (ANC) from 2007 until 2012, and Secretary-General of the ANC from 1997 to 2007. His role in the international movement against South Africa’s apartheid system led to a 10-year incarceration on Robben Island, where Nelson Mandela also was held. Following his release in 1987, Mr. Motlanthe worked for the National Union of Mineworkers (NUM). He succeeded Cyril Ramaphosa as the union’s General Secretary in 1992. (Mr. Ramaphosa was elected President of South Africa in February 2018.) During his 10 years with the NUM, Mr. Motlanthe was credited with helping to establish the Mineworkers Investment Company, which was wholly-owned by the NUM and made investments in companies that did not pose a conflict of interest for the union. Mr. Motlanthe played a crucial role in forming the Mineworkers Development Agency, which dealt with the developmental and social needs of retrenched miners and their families. He also helped to form initiatives to provide bursaries to miners and their dependents, as well as education and skills training. In January 2021, Mr. Motlanthe was appointed as Head of the Nelson Mandela Foundation, a non-profit organization founded by Nelson Mandela in 1999 to promote Mandela’s vision of freedom and equality for all. Delphine Traoré Independent Director, Chair of Nominating and Corporate Governance Committee, Member of Compensation and Human Resources Committee Delphine Traoré is the Regional Chief Executive Officer of Allianz Africa since November 2021, overseeing development across the continent. She joined the Board of Management of Allianz Africa as Regional Chief Operations Officer in February 2017 and served as CEO of Allianz Global Corporate & Specialty (AGCS) Africa from September 2012 to February 2017. Ms. Traoré is currently a non-executive member of the Board of Management of AGCS Africa. She has been serving as a board member for Allianz for a Green Revolution in Africa since February 2022, African Reinsurance Corporation since November 2021, and African Risk Capacity since June 2018. Ms. Traoré served as Vice-President of the African Insurance Organization from May 2018 to June 2019, before becoming its President from June 2019 to September 2021. She has been recognized as one of the top women economic leaders in Africa, having been featured in Forbes Africa magazine’s portraits of women economic leaders in 2019 and included in the Jeune Afrique magazine’s list of the 50 most influential women in Africa in 2018. Ms. Traoré was also President of the Insurance Institute of South Africa from 2015 to 2017. She was awarded the Woman Leadership Award from the Africa Leadership Awards in 2015 and was named in the Choiseul 100 Africa annual independent study of top economic leaders of tomorrow by the Institut Choiseul in both 2014 and 2015. Ms. Traoré began her career as a Senior Commercial Multi-Lines Insurance Underwriter and Marketing Representative and later as Regional Underwriting Manager with Ohio Casualty Group of Insurance from June 1996 to June 2003 after which she service as Commercial Umbrella/Excess Regional Underwriting Manager with Ohio until May 2005. She joined Allianz Group in Group in August 2005, specifically with AGCS Canada. She held positions of Liability Underwriter and Head of Market Management where she was responsible for identifying potential markets to support business development across Canada. Ms. Traoré is a Chartered Property and Casualty Underwriter from the American Institute for Chartered Property Casualty Underwriters. She also holds a Master of Science in Insurance Management from Boston University and a Bachelor of Science in Business and Accounting from the University of Pittsburgh. Iman Naguib Independent Director, Member of Audit Committee Iman Naguib is an accomplished finance executive with over 20 years of experience in corporate finance, M&A, restructuring, and asset management, spanning telecommunications, natural resources, and financial services across global markets. She has a strong reputation for evaluating strategic opportunities, advancing business development, and managing complex treasury functions. Ms. Naguib is Co-founder and Partner at Karnak Capital, where she is involved in various investment strategies across different sectors. From September 2012 to January 2015, she was Group Chief Financial Officer and Executive Director at La Mancha Resources, a gold mining company with operating mines, and exploration and development projects across Africa, Australia and Argentina. Throughout her career, Ms. Naguib has been recognized for her leadership and impact, including being named in the Choiseul 200 Africa list of top African economic leaders under 40 in 2015. Ms. Naguib co-founded Accelero Capital in 2011, where she led key transactions including Egypt’s largest M&A deal at the time—the €3.2 billion sale of Mobinil Telecom. She also served as Corporate Finance Director at Orascom Telecom and Weather Investments, overseeing complex financing and restructuring initiatives, including working on the $6.6 billion merger of Orascom with VimpelCom Ltd. Her early career includes roles at Commercial International Investment Company and Montpellier Asset Management. Most recently, Ms. Naguib was an independent non-executive director at Centamin PLC until its acquisition by AngloGold Ashanti PLC in 2024. Ms. Naguib holds an MBA from Cass Business School, London, UK, and a BSc from City University, Cairo, Egypt. Executive Team Background / Information / Track Record: Marna Cloete President and Chief Executive Officer Marna Cloete was appointed Chief Executive Officer of Ivanhoe Mines on February 24, 2025 and has been the President of the company since April 2020, leveraging over 20 years of expertise in strategic finance, resource development, and organizational transformation. Since joining Ivanhoe Mines in 2006, she has played a vital role in the company’s evolution, notably serving as Chief Financial Officer from 2009 to 2020. During this time, Marna’s financial acumen and visionary leadership laid the groundwork for Ivanhoe Mines’ sustainable growth and global success. Marna has been instrumental in driving some of the mining industry’s most significant achievements. Under her leadership, Ivanhoe Mines successfully developed and launched production at the Kamoa-Kakula Copper Complex in the Democratic Republic of Congo (DRC), one of the world’s largest and highest-grade copper projects. She also guided the reopening of the Kipushi mine, renowned for its ultra-high-grade zinc, copper, germanium, and silver deposits, and continues to oversee the development of the Platreef Project in South Africa, the world’s largest precious metals development, which includes palladium, platinum, nickel, copper, and gold. Her leadership extends beyond operations to strategic partnerships that have transformed Ivanhoe Mines’ footprint on the global stage. Marna played a pivotal role in forging joint ventures with Zijin Mining and partnerships with companies such as CITIC Metal and a Japanese consortium led by Itochu. Under her guidance, Ivanhoe raised critical funding, including a US$490 million equity offering in December 2023 and a US$750 million debt package to fuel expansion in January 2024. She also positioned Ivanhoe Mines as the first company to utilize the Lobito Atlantic Rail Corridor for mineral exports, unlocking cost efficiencies and international trade opportunities. A champion of education and local empowerment, Marna also spearheaded the establishment of the Kamoa Centre of Excellence in October 2023. This higher-education facility, launched in collaboration with the DRC government and President Félix Tshisekedi, is dedicated to nurturing the next generation of mining leaders in Africa. Before joining Ivanhoe Mines, Marna honed her expertise at PwC, specializing in the mining and metals sector, and held a senior reporting position at Group Five Construction Ltd., a publicly traded South African construction firm. She is a Chartered Accountant (SA) and holds a Master’s Degree in Taxation from the University of Pretoria. Globally recognized for her leadership, Marna serves on the Executive Committee of the International Copper Association. She has also contributed as an Independent Non-Executive Director and Chair of the Audit and Risk Committee for Centamin plc. Her exceptional contributions to the mining industry have cemented her reputation as one of the foremost leaders in the global resources sector. David van Heerden Chief Financial Officer David van Heerden brings more than 15 years of financial leadership to Ivanhoe Mines, where he currently serves as Chief Financial Officer. Since joining the company in 2011, David has played an instrumental role in shaping Ivanhoe’s financial strategy and supporting its global growth, first as Vice President of Finance, Treasury, and Tax, and now as CFO. David’s background spans financial management, treasury operations, and international tax, with a focus on the mining and resources sector. Before Ivanhoe, he honed his skills at Ernst & Young in Johannesburg, advising major mining and construction clients. A Chartered Accountant by training, David holds both Bachelor and Honours degrees in Chartered Accountancy. Tom van den Berg Chief Operating Officer Tom van den Berg became Chief Operating Officer on January 1, 2026, after serving as Senior Executive of Operations at Kamoa Copper. With nearly four decades of hands-on mining and mine development experience throughout Southern Africa, Tom has held key leadership roles at companies like Sibanye-Stillwater, Harmony Gold, and Anglo American Platinum (now Valterra Platinum). He has extensive underground and open-pit mining expertise and has experience developing strategic long-term operating partnerships and leading award-winning community and stakeholder engagement programs. Mr. van den Berg holds a Master’s degree in Business Leadership and a Bachelor’s degree in Mining Engineering. He is also a Fellow at the Southern African Institute of Mining and Metallurgy. Mark Sumner Executive Vice President, Corporate Finance Mark Sumner serves as Executive Vice President, Corporate Finance at Ivanhoe Mines, a role he assumed in early 2026 after joining the company as Vice President, Corporate Finance in 2020. Mark’s career began at Gold Fields in South Africa, where he worked as a mining engineer before moving into finance. Over the past 25 years, he has built a reputation as a trusted advisor and leader in project and corporate finance, most notably as Managing Director and Co-Head of Mining and Metals, Corporate Finance at Standard Chartered Bank. Mark holds an Honours Bachelor of Science in Mining Engineering and a Graduate Diploma in Mineral Economics from the University of the Witwatersrand in Johannesburg. His expertise bridges technical mining knowledge with financial strategy, bringing unique perspective and depth to Ivanhoe’s executive team. Dr. Patricia Makhesha Executive Vice President, People Dr. Patricia Makhesha joined Ivanhoe’s 64%-owned South African subsidiary, Ivanplats (Pty) Ltd., in September 2014. As Managing Director of Ivanhoe’s Platreef Project, she oversees the development of relationships with diverse communities in the vicinity of the planned Flatreef Mine in South Africa, and manages project relations with a broad group of stakeholders. She has served on the boards of GlaxoSmithKline, Rand Water Board, Trans Caledon Tunnel Authority, Construction Industry Development Board, South African Broadcasting Corporation and Co-operative Bank Development Agency. She was the founder and Chief Executive Officer of MMMS Consulting. Other positions during her 25-year career have included Senior Executive, Transformation and Human Capital Management at South African Forestry Company; Group Corporate Manager with Global Forest Products; Manager of Marketing and Communication at South African banker ABSA Group; and news and current affairs journalist with the South African Broadcasting Corporation. Dr. Makhesha holds a Doctorate and a Master’s Degree in Business Administration from MU Business School and has completed executive development programs at the University of Cape Town, Harvard University and WITS business schools. Peter (Chao) Zhou Executive Vice President, China Peter Zhou is Executive Vice President, Chief Representative China of Ivanhoe Mines. Mr. Zhou joined Ivanhoe Mines after a career at BMO Capital Markets where he participated and executed more than 10 Chinese cross-border M&A and financing projects, with a total transaction size of ~30 billion US dollars. He has extensive experience in capital markets, insightful knowledge of regulatory procedures and a broad network of business relationships in China. Since joining Ivanhoe Mines, Mr. Zhou has established Ivanhoe’s China entity and been actively bridging Chinese elements in supporting the development of Ivanhoe’s mining projects in Africa. He played a key role in multiple strategic investments from Zijin Mining and CITIC Metal, generated a total proceeds of over 1.5 billion US dollars for Ivanhoe Mines since 2015. Mr. Zhou graduated from the University of British Columbia with a Bachelor degree in Finance and Mathematics. Peter (Chao) Zhou Executive Vice President, China Peter Zhou is Executive Vice President, Chief Representative China of Ivanhoe Mines. Mr. Zhou joined Ivanhoe Mines after a career at BMO Capital Markets where he participated and executed more than 10 Chinese cross-border M&A and financing projects, with a total transaction size of ~30 billion US dollars. He has extensive experience in capital markets, insightful knowledge of regulatory procedures and a broad network of business relationships in China. Since joining Ivanhoe Mines, Mr. Zhou has established Ivanhoe’s China entity and been actively bridging Chinese elements in supporting the development of Ivanhoe’s mining projects in Africa. He played a key role in multiple strategic investments from Zijin Mining and CITIC Metal, generated a total proceeds of over 1.5 billion US dollars for Ivanhoe Mines since 2015. Mr. Zhou graduated from the University of British Columbia with a Bachelor degree in Finance and Mathematics. Olivier Binyingo Executive Vice President, DRC and Strategic Projects Olivier Binyingo joined Ivanhoe Mines in 2020 and is responsible for managing strategic partnerships with key stakeholders for Ivanhoe’s projects in the Democratic Republic of Congo. Prior to joining Ivanhoe Mines, Olivier held senior positions in a number of award-winning professional services firms, advising clients on their projects and operations in more than 40 countries on the African continent. Olivier has routinely gained recognition for his expertise, having been acknowledged by legal directory Chambers Global for his work across the continent. In addition, he was ranked as one of the most influential lawyers in Francophone Africa in 2019 by Jeune Afrique. Olivier holds a Master of Laws from the Katholieke Universiteit Leuven (Belgium) and a Master in Security and Defence from the Université Grenoble Alpes (France). Alex Pickard Executive Vice President, Corporate Development and Investor Relations Alex Pickard is Executive Vice President, Corporate Development & Investor Relations for Ivanhoe Mines Ltd. He joined Ivanhoe in 2017 to focus on strategic initiatives and fundraising for the company, and has been actively involved in raising over US$2 billion in equity and debt financings from strategic and institutional investors during that time. He has more than 10 years of experience in corporate finance and capital markets, focusing on the mining and resources sectors. Prior to joining Ivanhoe Mines, he was Vice President, Investment Banking at Morgan Stanley after starting his career at BMO Capital Markets, advising metals and mining clients on mergers and acquisitions, equity and debt capital markets transactions. Mr. Pickard graduated from the London School of Economics with a BSc Economics degree. Simon Bottoms Executive Vice President, Technical Services

Verified data last updated: 2026-05-15

Recent filings

Investor FAQ