Canadian Mining Journal


Ivanhoe, Zijin wrap up prefeasibility study at Kamoa in DRC

VANCOUVER — With a positive prefeasibility study in hand, Vancouver-based Ivanhoe Mines (TSX: IVN; US-OTC: IVPAF) and Chinese partner Zijin Mining Group are another step closer to developing Kamoa, the world’s largest, undeveloped copper resource in the Democratic Republic of the Congo (DRC).

The study examines first exploiting the shallow, high grade part of the sediment-hosted copper deposit at Kansoko Sud, which holds 71.9 million “probable” tonnes at 3.9% Cu, or 5.1 billion lb of copper, assuming a 1% cut-off.

The partners would need US$1.2 billion to build the underground mine, but the study envisages a 4.6-year payback, an after tax net present value (NPV), at an 8% discount rate, of US$986 million, and a 17.2% after tax internal rate of return (IRR).

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