Ivanhoe Mines publishes development plan for Kamoa Copper Complex

The 2023 IDP encompasses two studies: A pre-feasibility study (PFS) for the Phase 3 and 4 expansions of the Kamoa Copper Mining Complex, which will result in a staged increase in nameplate production up to a total of 19.2 million tpy over a 33-year life. The second study is a preliminary economic assessment (PEA) that evaluates a further nine-year extension to the mine life of the Kamoa Copper Mining Complex to 43 years overall – maintaining production from the Phase 1 to 4 concentrators beyond 2060.

Robert Friedland, Executive Co-Chairman of Ivanhoe Mines, said:

“This integrated development plan demonstrates the bright future and vast potential for the Democratic Republic of Congo and its people, which is ready to become a world leader in the responsible supply of vital electric metals required by governments around the world to enact policies to combat climate change.”

A proud joint venture between Ivanhoe Mines (39.6%), Zijin Mining Group (39.6%), Crystal River Global Limited (0.8%) and the Government of the Democratic Republic of Congo (20%), Kamoa Copper’s Phases 1 and 2 are approaching the full combined processing capacity of 9.2 million tpy with the de-bottlenecking programme over 90% complete, delivering increased copper production and operating cash flow to fund Phase 3 and 4 expansions.

Riaan Vermeulen, MD of Kamoa Copper, said:

“While operating Phase 1 and 2 and seeking to improve on operational efficiencies, we are progressing well with the major construction activities for the Phase 3 expansion.”

The Phase 3 expansion to 14.2 million tpy of processing capacity includes the ongoing construction of a new 5 million tpy concentrator, targeted for completion in 4Q24.

Ivanhoe Mines’ President, Marna Cloete said the Kamoa Copper Mining Complex had the potential to “become an example of how modern mining must be done – in partnership with local governments and communities, and with an unwavering focus on transparency and environmental, social and governance best practices.

"The Democratic Republic of Congo is blessed with exceptional hydropower potential, world-class geology, and a young, vibrant population ready to enter the workforce as the next generation of accomplished engineers, geologists and skilled technicians,” said Cloete.

Read the article online at: https://www.globalminingreview.com/mining/10022023/ivanhoe-mines-publishes-development-plan-for-kamoa-copper-complex/