Robert Friedland

Robert Martin Friedland (August 18, 1950) is an American/Canadian billionaire financier in the mining industry. Since the early 1980s, he has specialized in securing funding for the exploration and development of mineral and energy resources and technology ventures. He is the founder and chairman of his private, family-owned firm, Ivanhoe Capital Corporation, which is active in capital markets, focused on emerging markets. He is the founder and co-chairman of Ivanhoe Mines – a Canadian public company listed on the Toronto and OTCQX exchanges.

Robert Friedland
Born
Robert Martin Friedland

(1950-08-18) August 18, 1950
Chicago, Illinois, US
NationalityAmerican
Canadian
EducationReed College (BA)
OccupationInvestor
Known forFounder, Ivanhoe Mines
Net worthUS$1.05 billion (August 2019)[1]
Spouse(s)Darlene M. Friedland
Children3

Early life

Robert Friedland was born in Chicago, Illinois, the eldest of three children born to immigrant parents Ilona (née Muller) and Albert Friedland.[2] Friedland's father survived three years in Auschwitz while his mother worked as a forced laborer during the Holocaust.[3] He resigned from Bowdoin College in 1970 after being arrested by federal authorities for the possession of an estimated $100,000 worth of LSD, a crime for which he was sentenced to two years in federal prison, but received early release on probation. He graduated in 1974 from Reed College, Oregon, with a political science degree.[4] His senior year at Reed, Friedland was student body president.[4] During his time at Reed he met Steve Jobs with whom he shared an interest in Eastern spirituality. At the time, Friedland served as the caretaker of an apple farm south of Portland that was owned by his millionaire uncle Marcel Muller[5] and Jobs would come on the weekends and help with the apple orchard,[5] which served as the inspiration for the name of his company, Apple Inc.[4] Friedland turned the orchard into a commune called All One Farm. His followers were not paid for working on commercial endeavors there.[5]

Career

Friedland is executive co-chairman of Ivanhoe Mines Ltd. [6] (IVN: TSX, IVPAF: OTCQX), a Canadian mining company focused on advancing three joint-venture projects in Southern Africa: the development of major new mines at the Kamoa-Kakula [6] copper discoveries near Kolwezi in the Democratic Republic of Congo (DRC) and at the Platreef [6] palladium-platinum-nickel-copper-rhodium-gold discovery near Mokopane in South Africa; and the extensive redevelopment and upgrading of the historic Kipushi [6] zinc-copper-germanium-silver mine, also in the DRC. Ivanhoe also is exploring for new copper discoveries on its wholly owned Western Foreland exploration licences in the DRC, near the Kamoa-Kakula Project. The current Ivanhoe Mines was launched in 1993 as African Minerals to pursue mineral interests in Southern Africa. It was renamed Ivanplats Limited in 2011, and then Ivanhoe Mines in 2013.

Friedland also operates Ivanhoe Capital [7] from its corporate headquarters in Singapore – a location that has facilitated his focus on the Asia Pacific region. Ivanhoe Capital has specialized in the provision of venture capital, project financing and related financial services for a roster of international business enterprises since its founding in 1987.

Friedland was CEO of the original Ivanhoe Mines (now named Turquoise Hill Resources [8] (TRQ: TSX & NYSE)), which he founded as Indochina Goldfields in 1994 and led to a successful initial public offering on the Toronto Stock Exchange in 1996.[9] He was chairman, and later executive chairman, until 2011. Exploration by Ivanhoe Mines since 2000 discovered a chain of copper, gold and silver deposits at Oyu Tolgoi (Turquoise Hill) in Mongolia's South Gobi region. The first phase of what is independently projected to be one of the world's largest porphyry copper and gold mines Oyu Tolgoi began commercial production in 2013.[10][11]. The original Ivanhoe Mines was renamed Turquoise Hill Resources [8] (TRQ: TSX & NYSE) in 2012. Turquoise Hill Resources is focused on the operation and further development of the Oyu Tolgoi copper-gold mine.

Friedland's other corporate leadership positions include or have included:

  • Co-Chairman, of SK Global / Ivanhoe Pictures [12]
  • Chairman and CEO of High Power Exploration [13]
  • Chairman, Gold X Mining Corp. [14]
  • Co-Founder, Executive Co-Chairman and Chief Executive Officer of Ivanhoe Energy Inc. (IE: TSX & IVAN: NASDAQ).
  • Chairman of Sunwing Holding Corporation.
  • Co-Chairman of Clean TeQ Holdings (CLQ: ASX & TSX) [15]
  • Executive Chairman of Ivanplats Limited.
  • Chairman and Non-Executive Director of Ivanhoe Australia Ltd. (IVA: ASX & TSX).
  • Chairman, Potash One Inc.[16]
  • Founder and Co-Chairman of Diamond Fields Resources Ltd.[17]
  • Chairman and Chief Executive Officer of Galactic Resources Ltd.[7]

Personal life

Robert Friedland holds dual US and Canadian citizenship and is also a resident of Singapore.[18]

He is married to Darlene, and they have three children.[18] His son, Govind Friedland, is a geologist.[19]

gollark: Yes it is. Generally, it is nice if you don't have to just completely switch languages for some types of problem, in what is treated/marketed as a general purpose language.
gollark: It has more edge cases and weird quirks than, say, lisps.
gollark: Go isn't actually simple, though.
gollark: Yes, I'm aware. Go was seemingly written for developers who could not be trusted with any flexibility whatsoever.
gollark: But not the reliance on channels, as they can be quite tricky.

References
  1. "Forbes profile: Robert Friedland". Forbes. Retrieved 22 March 2020.
  2. Bloomberg News: "Ivanhoe CEO Loses in Rio ‘Chess Game’ Over Mongolia Mine" By Christopher Donville and Liezel Hill April 19, 2012
  3. Mines Magazine: "The Rough and Tough of Diamond Mining" By Lisa Marshall January, 2011
  4. Reed Magazine: "Prodigal Son" December 2011
  5. "Steve Jobs, Benjamin Franklin, Einstein by Walter Isaacson" By Walter Isaacson October 24, 2011
  6. "Ivanhoe Mines". Ivanhoe Mines.
  7. "Welcome to Ivanhoe Capital Website". Ivanhoe Capital Corporation.
  8. https://www.turquoisehill.com//
  9. "Friedland Factor Pulls in $310.5 million". Financial Post, Toronto, Canada. 14 June 1996.
  10. "Building Oyu Tolgoi: The Movie".
  11. "AMEC Minproc Technical Report, Oyu Tolgoi Project" (PDF). June 2010.
  12. https://skglobalentertainment.com/principals-executives
  13. "Welcome to High Power Exploration Inc. Website". High Power Exploration Inc.
  14. https://goldxmining.com/directors
  15. "Robert Friedland – Clean TeQ". www.cleanteq.com.
  16. "Potash One appoints Robert M. Friedland as Chairman, to assist in securing financing for new Canadian potash production project". Archived from the original on 2012-04-25.
  17. "Diamond Fields Resources: Diamond Fields Resources accepts Inco acquisition proposal". 3 April 1996.
  18. "Robert Friedland’s Ivanhoe Mines Announces Updated Economic Assessment for Copper Project in Congo", Jewish Business News, November 24, 2013
  19. Mining Weekly: "Govind Friedland following in father's footsteps" By Matthew Hill February 18, 2011

Further reading
  • Francis, Diane (2008). Who Owns Canada Now. Old Money, New Money and the Future of Canadian Business. HarperCollins. ISBN 978-0-00-200705-4.
  • Newman, Peter C (1998). The Canadian Establishment, Volume 3: The Titans – How the New Canadian Establishment Seized Power. Penguin. ISBN 0-14-028700-0.
  • McNish, Jacquie (1998). The Big Score: Robert Friedland, Inco and the Voisey's Bay Hustle. Canada. Doubleday. ISBN 0-385-25758-9.
  • Isaacson, Walter (2011). Steve Jobs. New York: Simon & Schuster. pp. 630. ISBN 978-1-4516-4853-9.
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