Ivanhoe Mines

Last updated
Ivanhoe Mines Ltd.
Type Public
TSX:  IVN
S&P/TSX Composite Component
Industry Mining & Exploration
Headquarters
Vancouver
,
Canada
Key people
 Robert Friedland
Website www.ivanhoemines.com

Ivanhoe Mines is a Canadian mining company focused on advancing its three principal projects in Southern Africa: the development of new mines at the Kamoa-Kakula copper discoveries in the Democratic Republic of Congo (DRC), the Platreef palladium-platinum-nickel-copper-rhodium-gold discovery in South Africa, and the extensive redevelopment and upgrading of the historic Kipushi zinc-copper-germanium-silver mine, also in the DRC. Ivanhoe also is exploring for new copper discoveries on its wholly owned Western Foreland exploration licences in the DRC, near the Kamoa-Kakula Project.

Contents

History

In October 2012, the company held an IPO on the Toronto Stock Exchange, raising $300 million, and valuing the company at $2.5 billion. [1] In August 2013 the company changed its name to Ivanhoe Mines, taking advantage of Friedland's right to that name. [2]

In 2015, Ivanhoe sold half of its interest in the Kamoa copper project to Zijin Mining Group, a Chinese mining company, for US$412 million. [3]

In April 2017 Ivanhoe announced it had confirmed the new Kakula West discovery in the Democratic Republic of Congo. Reported assays returned 8.86 metres grading 5.83% copper that included a higher grade intercept of 6.17 metres grading 6.84% copper. The discovery extended the Kakula along a confirmed strike length of 6.8 kilometres. [4]

In January 2019, Ivanhoe Mines reported an unprecedented 22.3-metre intersection of 13.05% copper in a shallow, flat-lying discovery at the Kamoa North Bonanza Zone on the Kamoa-Kakula mining licence. Drill hole DD1450 intersection included grades of up to 40% copper and is within 190 metres of surface. [5] In February 2020, the initial mineral resource estimate for the Kamoa North Bonanza Zone included 1.5 million tonnes of Indicated Resources grading 10.7% copper, at a 5% cut-off. [6]

In February 2020, Ivanhoe released an independently verified, updated Mineral Resource estimate for the Kamoa-Kakula Copper Project in the Democratic Republic of Congo (DRC). The Kamoa-Kakula Project Indicated Mineral Resource now stands at 1.4 billion tonnes grading 2.7% copper, at a 1% cut-off grade, and the project's Indicated Mineral Resource now stands at 423 million tonnes grading 4.68% copper, at a 3% cut-off grade. [7]

International mining consultant Wood Mackenzie has ranked the Kamoa-Kakula Copper Project as the world's fourth-largest copper discovery, with copper grades that are the highest by a wide margin of the world's top 10 copper deposits. [6]

Construction of the Kakula Mine, the first of multiple, planned mining areas at Kamoa-Kakula, is making excellent progress. Initial copper concentrate production from the Kakula Mine is scheduled to begin in the third quarter of 2021. [8]

Operations

Ivanhoe has three projects:

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References

  1. ↑ "Ivanplats shares rise; IPO values miner at C$2.5 billion". Reuters. 2012-10-17. Retrieved 2018-03-02.
  2. ↑ "Ivanplats becomes Ivanhoe Mines | Mining News". www.miningne.ws. Retrieved 2018-03-02.
  3. ↑ "Barrick Gold Corp, Ivanhoe Mines Ltd sell stakes to China's Zijin in Papua New Guinea, Congo mines". Financial Post. 2015-05-26. Retrieved 2018-03-02.
  4. ↑ "Ivanhoe Mines: Assays Confirm Kakula West High-Grade Copper Discovery". www.juniorminingnetwork.com. Retrieved 2017-04-10.
  5. ↑ "Ivanhoe drills Kamoa-Kakula's best intersection to date". MINING.COM. 2019-01-30. Retrieved 2020-02-10.
  6. 1 2 "Ivanhoe's giant Kamoa-Kakula copper project in DRC keeps getting bigger". MINING.COM. 2020-02-05. Retrieved 2020-02-10.
  7. ↑ "Ivanhoe Mines". Ivanhoe Mines. Retrieved 2020-02-10.
  8. ↑ "New mineral resource for Ivanhoe's Kamoa-Kakula shows 423 million tonnes grading 4.68% copper". Kitco News. 2020-02-05. Retrieved 2020-02-10.
  9. ↑ "Friedland confident Congo copper mine will be world's second-largest". MINING.COM. 2019-02-06. Retrieved 2020-02-10.
  10. ↑ Ivanhoe taps Glencore for $250 million to start Kipushi zinc mine ahead of schedule, Mining.com. April 27, 2023
  11. ↑ Kilian, Anine. "Ivanhoe installs new crusher at Kipushi mine". Mining Weekly. Retrieved 2020-02-10.
  12. ↑ "Ivanhoe OK to build one of world's biggest platinum mines | MINING.com". MINING.com. 2014-11-05. Retrieved 2018-03-02.
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