Yufeng "Miles" Sun, President of CITIC Metal Group Limited, commented: "For several years, CITIC Metal has been focused on investing in high-quality mining assets with strategic, global partners. We are very pleased to have partnered with Ivanhoe Mines as Ivanhoe's three world-class assets are among the very best in the mining industry and Mr. Friedland is a respected, long-standing friend of CITIC's. "CITIC Metal's strategic investment in Ivanhoe reflects our strong belief that the long-term prospects for the mining industry are extremely positive, especially given the projected robust future demand for key metals, such as copper, for renewable energy infrastructure and electric vehicles.