Ivanhoe said it did not anticipate using the funds from the interim loan, but that it was already deposited in the company's bank account.

The interim loan carries a coupon of 6% and will be repaid from the proceeds of the US$557 million strategic investment by CITIC Metal, which is on track to close in September. Ivanhoe has provided a secured limited-recourse guarantee and share pledge securing Ivanhoe's obligation under the interim loan facility.

Including the interim loan, Ivanhoe currently has working capital of about US$165 million.

This figure is set to swell to more than US$613 million when the CITIC investment closes, combined with proceeds of about US$60 million to be received from Ivanhoe's joint-venture partner at the Kamoa-Kakula project, Zijin Mining Group, who has exercised its anti-dilution rights.

Ivanhoe will put the capital to work advancing its Kamoa-Kakula copper, Platreef platinum-group metals and Kipushi zinc projects.