Ivanhoe Mines

Ivanhoe Mines is a Canadian mining company focused on advancing its three principal projects in Southern Africa: the development of new mines at the Kamoa-Kakula copper discoveries in the Democratic Republic of Congo (DRC) and the Platreef palladium-platinum-nickel-copper-rhodium-gold discovery in South Africa; and the extensive redevelopment and upgrading of the historic Kipushi 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.

This article is about the new (post-2012) Ivanhoe Mines. For the original Ivanhoe Mines company, see Turquoise Hill Resources.
Ivanhoe Mines Ltd.
Public
Traded asTSX: IVN
S&P/TSX Composite Component
IndustryMining & Exploration
Headquarters
Vancouver
,
Canada
Key people
Robert Friedland
Websitewww.ivanhoemines.com

History

In October 2012, the company held an IPO on the Toronto Stock Exchange, raising $300 million, and valuing the company at $2.5 billion.[1] In August 2013 the company changed its name to Ivanhoe Mines, taking advantage of Friedland's right to that name.[2]

In 2015, Ivanhoe sold half of its interest in the Kamoa copper project to Zijin Mining Group, a Chinese mining company, for US$412 million.[3]

In April 2017 Ivanhoe announced it had confirmed the new Kakula West discovery in the Democratic Republic of Congo. Reported assays returned 8.86 metres grading 5.83% copper that included a higher grade intercept of 6.17 metres grading 6.84% copper. The discovery extended the Kakula along a confirmed strike length of 6.8 kilometres.[4]

In January 2019, Ivanhoe Mines reported an unprecedented 22.3-metre intersection of 13.05% copper in a shallow, flat-lying discovery at the Kamoa North Bonanza Zone on the Kamoa-Kakula mining licence. Drill hole DD1450 intersection included grades of up to 40% copper and is within 190 metres of surface.[5] In February 2020, the initial mineral resource estimate for the Kamoa North Bonanza Zone included 1.5 million tonnes of Indicated Resources grading 10.7% copper, at a 5% cut-off.[6]

In February 2020, Ivanhoe released an independently verified, updated Mineral Resource estimate for the Kamoa-Kakula Copper Project in the Democratic Republic of Congo (DRC). The Kamoa-Kakula Project Indicated Mineral Resource now stands at 1.4 billion tonnes grading 2.7% copper, at a 1% cut-off grade, and the project's Indicated Mineral Resource now stands at 423 million tonnes grading 4.68% copper, at a 3% cut-off grade.[7]

International mining consultant Wood Mackenzie has ranked the Kamoa-Kakula Copper Project as the world's fourth-largest copper discovery, with copper grades that are the highest by a wide margin of the world's top 10 copper deposits.[6]

Construction of the Kakula Mine, the first of multiple, planned mining areas at Kamoa-Kakula, is making excellent progress. Initial copper concentrate production from the Kakula Mine is scheduled to begin in the third quarter of 2021.[8]

Development of the Platreef and Kipushi projects also are advancing towards production.

Operations

Ivanhoe has three projects:

  • The Kamoa-Kakula copper project, located near Kolwezi in the DRC. An independent preliminary economic assessment (PEA) issued in February 2019 indicates that Kamoa-Kakula has a potential production rate of at least 18 Mtpa. Once this expanded rate is achieved, Kamoa-Kakula is projected to become the world's second largest copper mine, with peak annual production of more than 700,000 tonnes of copper.[9]
  • The Kipushi zinc project near the city of Kipushi in the DRC's Haut-Katanga province. Kipushi has an estimated 10.2 million tonnes of measured and indicated Mineral Resources grading 34.9% zinc.[10]
  • The Platreef Project, a platinum mine in Limpopo province, South Africa. Platreef is expected to eventually be one of the world's largest platinum mines.[11]
gollark: Maybe in fifty years. Although it would probably be possible to train a neural network or something on it *now*.
gollark: Well, probably, but current technology won't allow me to do something like "run a subset of my brain on my computer and have it evaluate the message content".
gollark: It's not parsing actual sentences as much as vaguely guessing at the intent of one to about five words.
gollark: As I said, right now it just uses some heuristics.
gollark: Yes, I'm aware, and English is unparseable so that's tricky.

References
  1. "Ivanplats shares rise; IPO values miner at C$2.5 billion". Reuters. 2012-10-17. Retrieved 2018-03-02.
  2. "Ivanplats becomes Ivanhoe Mines | Mining News". www.miningne.ws. Retrieved 2018-03-02.
  3. "Barrick Gold Corp, Ivanhoe Mines Ltd sell stakes to China's Zijin in Papua New Guinea, Congo mines". Financial Post. 2015-05-26. Retrieved 2018-03-02.
  4. "Ivanhoe Mines: Assays Confirm Kakula West High-Grade Copper Discovery". www.juniorminingnetwork.com. Retrieved 2017-04-10.
  5. "Ivanhoe drills Kamoa-Kakula's best intersection to date". MINING.COM. 2019-01-30. Retrieved 2020-02-10.
  6. "Ivanhoe's giant Kamoa-Kakula copper project in DRC keeps getting bigger". MINING.COM. 2020-02-05. Retrieved 2020-02-10.
  7. "Ivanhoe Mines". Ivanhoe Mines. Retrieved 2020-02-10.
  8. "New mineral resource for Ivanhoe's Kamoa-Kakula shows 423 million tonnes grading 4.68% copper". Kitco News. 2020-02-05. Retrieved 2020-02-10.
  9. "Friedland confident Congo copper mine will be world's second-largest". MINING.COM. 2019-02-06. Retrieved 2020-02-10.
  10. Kilian, Anine. "Ivanhoe installs new crusher at Kipushi mine". Mining Weekly. Retrieved 2020-02-10.
  11. "Ivanhoe OK to build one of world's biggest platinum mines | MINING.com". MINING.com. 2014-11-05. Retrieved 2018-03-02.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.