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Monday, August 18, 2014

Ivanhoe taps banks to review Democratic Republic of Congo projects, (NYSE: MS)

Ivanhoe Mines has retained BMO Capital Markets Ltd and Morgan Stanley & Co as financial advisers to conduct a strategic review of its Kamoa and Kipushi copper projects in the Democratic Republic of Congo (DRC).Vancouver, British Columbia-based Ivanhoe, headed by mining financier Robert Friedland, said on Monday that the strategic review would initially focus on the potential introduction of third-party strategic investors or joint-venture parties for the Kamoa and Kipushi projects.Ivanhoe said it would continue to examine other options like a corporate reorganization and a project spin-off."The announcement is not unexpected and formalizes a process that has been ongoing for some time," said RBC Capital Markets analyst Fraser Phillips in a note to clients.

Morgan Stanley is a global financial services company that, through its subsidiaries and affiliates, provides its products and services to a range of clients and customers, including corporations, governments, financial institutions and individuals. Shares of MS remained unchanged at $32.22. In the past year, the shares have traded as low as $25.25 and as high as $33.60. On average, 8631260 shares of MS exchange hands on a given day and today's volume is recorded at 5500.