Qatar’s QIA Takes $500 Million Stake in Copper Miner Ivanhoe (3)

Qatar’s sovereign wealth fund will acquire a $500 million stake in copper producer Ivanhoe Mines Ltd., deepening its push into the global mining industry.

The Qatar Investment Authority — which oversees $524 billion — will take on the shares via a private placement, giving it a 4% stake in the Canadian miner, Ivanhoe and the QIA said in a joint statement on Wednesday. Bloomberg reported earlier that the fund was close to a deal to acquire a minority holding.

The investment in Ivanhoe is one of the QIA’s largest forays into the mining industry since it purchased a stake ...