The pace of underground development is speeding up at the Kamoa copper mine. (Image: Ivanhoe Mines)
DEMOCRATIC REPUBLIC OF CONGO – Vancouver-headquartered Ivanhoe Mines is pressing ahead with the construction of the Kakula copper mine. This is the first stage of the Kamoa-Kakula copper project.
China-based CITIC Metal invested an additional US$459 million earlier this year, and now plans to take up a second financing of US$459 million, bringing its total investment close to US$ billion.
With the money secured, Ivanhoe is accelerating the pace of underground development. The fist access drives are almost at the initial high grade ore. Ivanhoe and joint venture partner Zijin Mining have begun work on the earthworks for the processing plant and have issued tenders for long-lead mining and processing equipment.
The Kakula mine is expected to being making concentrate in Q3 2021.
Please visit www.IvanhoeMines.com for more details of the Kamoa-Kakula copper project.