Zijin, China’s No.1 gold producer and Ivanhoe’s partner in the now massive Kamoa-Kakula copper project in the DRC, added an additional C$67 million (about $49m) into the Canadian company’s coffers.
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Ivanhoe Mines secures full financing for first two mines in Congo Read More »
This second major cash injection brings the Chinese miner’s total investment in Ivanhoe to $1 billion, which gives the Canadian company the equity cushion required to build its massive Kamoa-Kakula copper mine.
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Decision was made to give more artisanal and small-scale miners (ASM) the opportunity to benefit from the program, which helps them trace route of their diamonds throughout the supply chain.
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Initiative could see it ban or delist brands that can’t prove they are responsibly sourced by 2022.
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The company said Felix Tshisekedi had confirmed his intention of working miners to keep growing the Central African nation’s gold sector.
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In its current form, the epidemic won’t impact the nation’s cobalt production, as the vast distance from the Katanga region largely prevents its spread, says global risk consultancy Verisk Maplecroft.
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Rights group also said the EV industry sells itself as environmentally friendly, while most of the batteries they produce use polluting fossil fuels.
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The founder of Ivanhoe Mines said the Kamoa-Kakula project is “on track to become one of the absolute greatest copper mining complexes in the world.”
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Friedland confident Congo copper mine will be world’s second-largest Read More »
Company has agreed to buy BHR Newwood DRC Holdings Ltd, a holding company set up by private equity firm BHR to buy a 24% stake in the Congo mine in 2017.
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China Moly ups stake in giant Tenke copper mine to 80% Read More »
The carmaker will use a blockchain-based platform to trace supplies of cobalt from a Chinese-owned mine in the Congo for the batteries in its electric cars, in an effort to ensure they are not linked to human rights abuses.
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