{"id":1206142,"date":"2020-09-08T13:14:52","date_gmt":"2020-09-08T18:14:52","guid":{"rendered":"https:\/\/resourceworld.com\/?p=59670"},"modified":"2020-09-08T13:14:52","modified_gmt":"2020-09-08T18:14:52","slug":"ivanhoe-mines-sees-robust-economics-at-drc-copper-mine","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1206142","title":{"rendered":"Ivanhoe Mines sees robust economics at DRC copper mine"},"content":{"rendered":"

Ivanhoe Mines Ltd.<\/strong> [IVN<\/a>-TSX; IVPAF<\/a>-OTCQX] on Tuesday September 8 announced the results of an independent definitive feasibility study (DFS) for the development of its huge Kamoa-Kakula Copper Project in the Democratic Republic of Congo.<\/p>\n

The DFS, together with results from an updated prefeasibility study (PFS), provide more evidence that Kamoa-Kakula has the potential to become the world\u2019s second largest copper mine, with annual output of more than 800,000 tonnes, the company said in a press release.<\/p>\n

It said the feasibility study is an independent verification by nine of the world\u2019s top engineering firms of the robust economics generated by an initial 6.0 million tonne\/year starter pit at Kakula where the expected ore feed grade is 6.6% copper. Mine site cash costs are forecast at US$0.48\/lb in the first five years of production.<\/p>\n

The PFS evaluates mining of 1.6 million tonnes annually from the nearby Kansoko mine, in addition to feed from Kakula that would fill a 7.6 million tonne\/year processing plant at Kakula.<\/p>\n

\u201cMost importantly, the Kakula mine has been designed to produce the world\u2019s most environmentally responsible copper, which is crucial for today\u2019s new generation of environmentally and socially-focused investors,\u201d said Ivanhoe co-Chairman Robert Friedland.<\/p>\n

Kamoa-Kakula will advance in stages until it has four producing mines on site with combined output of 19 million tonnes annually.<\/p>\n

Ivanhoe shares eased 0.18% or $0.01 to $5.50 on volume of 890,030.<\/p>\n

Ivanhoe is led by Singapore-based mine financier Robert Friedland, who holds a 17% interest in the company. CITIC Metal Co. Ltd., a subsidiary of the Chinese state-owned CITIC Group, recently agreed to invest an additional $612 million in Ivanhoe at $3.98 a share, raising its stake in Ivanhoe to 29.9% from just under 20%.<\/p>\n

The Kamoa-Kakula Copper Project is a joint venture between Ivanhoe Mines (39.6%), China\u2019s Zijin Mining Group (39.6%), Crystal River Global Ltd. (0.8%), and the DRC government (20%).<\/p>\n

The Kamoa Deposit is one of two large, near-surface, flat-lying, stratiform copper deposits. The other major deposit \u2013 Kakula is being fast-tracked to commercial production, with the initial 3.8 million tonne\/year mining operation scheduled to produce first concentrate in Q3 2021.<\/p>\n","protected":false},"excerpt":{"rendered":"

Ivanhoe Mines Ltd. [IVN-TSX; IVPAF-OTCQX] on Tuesday September 8 announced the results of an independent…<\/p>\n","protected":false},"author":41,"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":[622],"tags":[33],"class_list":["post-1206142","post","type-post","status-publish","format-standard","hentry","category-resources","tag-copper"],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1206142","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\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1206142"}],"version-history":[{"count":1,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1206142\/revisions"}],"predecessor-version":[{"id":1206143,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1206142\/revisions\/1206143"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1206142"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1206142"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1206142"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}