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Mar 17, 2003 · This year, Friedland does not have to push Diamond Fields at all, because the junior company really did strike it rich on nickel, and not just run-of-the-mill rich, but the richest. And it did become a takeover target, with nickel giant Inco Ltd. of Toronto claiming the prize for $4.3 billion.
- Preface
- The Origins
- Diamond Fields
- The Discovery
The legendary story of one of Canada’s most significant base metal discoveries happened just before the dawn of the internet era. While some investors recall the sequence of events and the value that was created by Diamond Fields, there are many investors today, both new and old, who are not familiar with the story of Voisey’s Bay. For this infogra...
By its very definition, a discovery is the breakthrough action of finding something of value that no one knew existed. Discoveries come in all shapes and sizes – but it turns out many of the very best discoveries happen in the most unsuspecting of conditions. Labrador is located on the Northeast tip of Quebec in Canada, and it’s in this remote area...
At this time, Diamond Fields was a fledgling company. Running under Robert Friedland’s umbrella of Ivanhoe Capital, the company had its share of issues. Legal problems were mounting, and the company had finally just raised cash in a desperation move: the company impressed investors with its idea of “vacuuming” diamonds off the seafloor near Namibia...
In August 1994, the prospectors received more detailed assays from the samples they collected – assays that confirmed a multi-element deposit with cobaltite, copper, magnetite, and exceptionally high amounts of nickel. In fall, the team tried to beat winter by executing the next phase of exploration. On drill hole number two: they hit. The drill co...
Apr 24, 2017 · As co-chairman of Diamond Fields, Friedland negotiates the sale of Voisey’s Bay to INCO for C$4.3 billion. Voisey’s Bay starts production in 2005 and is the world’s fourth-largest nickel producer.
Dec 7, 2023 · Peregrine Diamonds, Friedland’s Canada-based venture, was acquired by De Beers Group in September 2018 for approximately $80 million. In the early months of 1982, Robert Friedland arrived in Vancouver, a shadowy figure within the mining realm.
Friedland was the Chairman of Diamond Fields Resources when it was bought out for $4.3 billion [14] by Michael Sopko's INCO for its rich Voisey's Bay development. [ 15 ] [ 16 ] [ 17 ] The deal earned Friedland a seat on the board of INCO, [ 18 ] from which he benefited by Companhia Vale do Rio Doce 's 2006 bid for INCO.
In December, Inco and Falconbridge both began to aggressively pursue Diamond Fields. First, Inco presented a deal in principle for $3.5 billion, or $31 per share.
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Feb 10, 1997 · Wasting no time, Diamond Fields' cofounder Robert Friedland orchestrated a bidding war for the nickel. Inco and Falconbridge, the world's leading nickel producers, both wanted the...
