{"id":1121444,"date":"2019-06-17T15:48:06","date_gmt":"2019-06-17T15:48:06","guid":{"rendered":"https:\/\/www.mining.com\/?p=993887"},"modified":"2019-06-17T16:08:06","modified_gmt":"2019-06-17T16:08:06","slug":"ivanhoe-to-produce-first-copper-concentrate-from-giant-drc-mine-in-a-year","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1121444","title":{"rendered":"Ivanhoe to produce first copper concentrate from giant DRC mine in a year"},"content":{"rendered":"

Canadian miner Ivanhoe
\nMines (TSX:IVN) is moving
\nfull-speed with construction of its giant copper mine<\/a> in the Democratic
\nRepublic of Congo, as underground development for Kakula \u2014 the stage one,
\nsix-million-tonne-per-annum (6 Mtpa) operation \u2014 is nearing initial high-grade
\nmining zone.<\/p>\n

The company, which received in April an additional C$612 million<\/a> (about $459m) cash injection from its largest shareholder, China\u2019s state-owned CITIC Metal, said it had also begun earthworks for the surface processing plant and issued tenders for the long-lead mining and processing equipment. <\/p>\n

\n
\n

The Canadian miner is moving full-speed with construction of Kakula, the stage one, six-million-tonne-per-annum (6 Mtpa) operation.<\/p>\n<\/blockquote>\n<\/figure>\n

CITIC Metal’s investment, expected
\nto close no later than Sep. 7, is its second major financing in less than a
\nyear, which brings the company\u2019s total investment in Ivanhoe to about $1
\nbillion. <\/p>\n

Another Chinese firm, Zijin Mining Group \u2014 which\u00a0became Ivanhoe\u2019s partner in the project four years ago<\/a> \u2014 exercised its anti-dilution rights last month, which in turn will generate additional proceeds for Ivanhoe of C$67 million ($50 million).<\/p>\n

Friedland, who made his fortune from the Voisey\u2019s Bay nickel project in Canada in the 1990s,\u00a0has said<\/a>\u00a0the capacity of the project\u2019s first phase, scheduled to begin production in the third quarter of 2021, could later be easily tripled. <\/p>\n

Once fully developed, the mining
\ncomplex could produce 382,000 tonnes of copper a year during the first 10
\nyears, climbing to 700,000 tonnes of copper after 12 years of operations. That
\nmeans that Kamoa-Kakula has the potential to become the world\u2019s
\nsecond-largest copper mine.<\/p>\n

Analysts also believe the giant
\nmine could restore the DRC\u2019s historical position as one of the world\u2019s top
\ncopper producing countries.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Canadian miner is moving full-speed with construction of its Kakula — the stage one, six-million-tonne-per-annum (6 Mtpa) operation — that is part of the vast Kamoa-Kakula copper mining complex.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[369],"tags":[43],"class_list":["post-1121444","post","type-post","status-publish","format-standard","hentry","category-miningcom","tag-exploration"],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1121444","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1121444"}],"version-history":[{"count":4,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1121444\/revisions"}],"predecessor-version":[{"id":1121574,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1121444\/revisions\/1121574"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1121444"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1121444"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1121444"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}