Robert Friedland
Robert Friedland | |
|---|---|
| Born | August 18, 1950 Chicago, Illinois, U.S. |
| Citizenship | United States, Canada |
| Occupation(s) | Financier, mining executive |
| Years active | 1980s–present |
| Known for | Founder and chairman of Ivanhoe Capital Corporation; Co-chairman of Ivanhoe Mines |
Robert Martin Friedland (born August 18, 1950) is a billionaire financier with dual American and Canadian citizenship, recognized for his prominent role in the mining sector. Since the early 1980s, he has concentrated on raising capital for ventures in mineral and energy resource exploration as well as technology initiatives. Friedland is the founder and chairman of Ivanhoe Capital Corporation, a privately held, family-owned investment company specializing in emerging market capital ventures. Additionally, he established and serves as co-chairman of Ivanhoe Mines, a publicly traded Canadian corporation listed on the Toronto Stock Exchange and OTCQX.
Early life
Born in Chicago, Illinois, Friedland is the eldest child among three siblings of immigrant parents Ilona (née Muller) and Albert Friedland. His father endured three years imprisoned at Auschwitz, while his mother was subjected to forced labor during the Holocaust.
LSD
In 1970, Friedland left Bowdoin College following his arrest for possession of LSD valued at approximately $100,000. He received a two-year federal prison sentence but was released early on probation; this conviction was later expunged in 1986. He completed his undergraduate studies at Reed College, Oregon, earning a degree in political science in 1974. During his final year, he held the position of student body president.
All One Farm
While attending Reed College, Friedland developed a friendship with Steve Jobs, sharing an interest in Eastern spiritual philosophies. Friedland managed an apple orchard located south of Portland owned by his wealthy uncle Marcel Muller, where Jobs occasionally assisted on weekends. This orchard served as inspiration for the name of Jobs’ company, Apple Inc.. Friedland converted the farm into a commune known as All One Farm, where participants engaged in commercial activities without receiving wages.
Career
Friedland’s career began with his role as CEO of Galactic Resources Ltd., where he successfully raised over US$300 million to develop a gold mining operation at Summitville, Colorado. Defying contractor recommendations, he initiated heap leaching during winter months, which resulted in a cyanide spill that polluted the Alamosa River and caused significant environmental harm. The Environmental Protection Agency’s cleanup expenses exceeded $100 million, and Galactic Resources declared bankruptcy in 1992. Friedland stepped down following EPA regulatory intervention but denied accountability for the incident.
Presently, he serves as executive co-chairman of Ivanhoe Mines Ltd. (TSX: IVN, OTCQX: IVPAF), a Canadian mining enterprise advancing three collaborative projects in Southern Africa: copper extraction at the Kamoa-Kakula discoveries near Kolwezi, Democratic Republic of Congo; development of the Platreef project featuring palladium, platinum, nickel, copper, rhodium, and gold near Mokopane, South Africa; and revitalization of the historic Kipushi mine producing zinc, copper, germanium, and silver in the DRC. Ivanhoe also conducts copper exploration on its wholly owned Western Foreland licenses adjacent to Kamoa-Kakula. The company was initially incorporated as African Minerals in 1993 before rebranding to Ivanplats Limited in 2011 and adopting its current name Ivanhoe Mines in 2013.
Operating from Singapore since 1987 through Ivanhoe Capital, Friedland focuses on venture capital investments and project financing across the Asia Pacific region. His significant contributions to global mineral resource development earned him induction into the Canadian Mining Hall of Fame in 2016 and the American Hall of Fame in 2021.
He founded and led the original Ivanhoe Mines (now known as Turquoise Hill Resources (TSX & NYSE: TRQ)), which was originally called Indochina Goldfields when established in 1994 and went public on the Toronto Stock Exchange in 1996. The company’s exploration efforts uncovered major deposits of copper, gold, and silver at Oyu Tolgoi located in Mongolia’s South Gobi region. Commercial production commenced there in 2013. The firm was renamed Turquoise Hill Resources in 2012 to concentrate on Oyu Tolgoi’s development.
Friedland previously chaired Diamond Fields Resources during its $4.3 billion acquisition by INCO for its valuable Voisey's Bay deposit, which secured him a position on INCO’s board. He also profited from Companhia Vale do Rio Doce’s purchase of INCO in 2006.
Additional executive roles held by Friedland include:
- Chief Executive Officer of Ivanhoe Capital Acquisition Corp. (NYSE: IVAN)
- Co-Chairman of SK Global / Ivanhoe Pictures
- Chairman and CEO of High Power Exploration
- Chairman of Gold X Mining Corp. (CVE: GLDX)
- Co-Founder, Executive Co-Chairman, and CEO of Ivanhoe Energy Inc.
- Chairman of Sunwing Holding Corporation
- Co-Chairman of Clean TeQ Holdings (ASX & TSX: CLQ)
- Executive Chairman of Ivanplats Limited
- Chairman and Non-Executive Director of Ivanhoe Australia Ltd. (ASX & TSX: IVA)
- Chairman of Potash One Inc.
- Founder and Co-Chairman of Diamond Fields Resources Ltd.
- Chairman and CEO of Galactic Resources Ltd.
Personal life
Robert Friedland possesses citizenship in both the United States and Canada and currently lives in Singapore. He is married to Darlene Friedland, and together they have three children. Their son, Govind Friedland, works professionally as a geologist.
Further reading
External links
- Pages with script errors
- Articles with short description
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- No local image but image on Wikidata
- American businesspeople in metals
- 1950 births
- Living people
- Reed College alumni
- Canadian businesspeople
- Businesspeople from Chicago
- 20th-century American Jews
- American billionaires
- Canadian billionaires
- Naturalized citizens of Canada
- American mining businesspeople