This article is about the new (post-2012) Ivanhoe Mines. For the original Ivanhoe Mines company, see Turquoise Hill Resources.
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.
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]
Operationsedit
Ivanhoe has three projects:
The Kamoa-Kakula copper project, located near Kolwezi in the DRC. An independent preliminary economic assessment (PEA) issued in February 2019 indicates that Kamoa-Kakula has a potential production rate of at least 18 Mtpa. Once this expanded rate is achieved, Kamoa-Kakula is projected to become the world's second largest copper mine, with peak annual production of more than 700,000 tonnes of copper.[9]
Ivanhoe Mines owns 68% of Kipushi Mine, while state-owned Gécamines owns 32%.[10] The zinc mine is located near the city of Kipushi in the DRC's Haut-Katanga province. Kipushi has an estimated 10.2 million tonnes of measured and indicated Mineral Resources grading 34.9% zinc.[11]
The Platreef Project, a platinum mine in Limpopo province, South Africa. Platreef is expected to eventually be one of the world's largest platinum mines.[12]
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This article is about the new post 2012 Ivanhoe Mines For the original Ivanhoe Mines company see Turquoise Hill Resources 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 Ivanhoe Mines Ltd TypePublicTraded asTSX IVNS amp P TSX Composite ComponentIndustryMining amp ExplorationHeadquartersVancouver CanadaKey peopleRobert FriedlandWebsitewww wbr ivanhoemines wbr comHistory editIn 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 editIvanhoe has three projects The Kamoa Kakula copper project located near Kolwezi in the DRC An independent preliminary economic assessment PEA issued in February 2019 indicates that Kamoa Kakula has a potential production rate of at least 18 Mtpa Once this expanded rate is achieved Kamoa Kakula is projected to become the world s second largest copper mine with peak annual production of more than 700 000 tonnes of copper 9 Ivanhoe Mines owns 68 of Kipushi Mine while state owned Gecamines owns 32 10 The zinc mine is located near the city of Kipushi in the DRC s Haut Katanga province Kipushi has an estimated 10 2 million tonnes of measured and indicated Mineral Resources grading 34 9 zinc 11 The Platreef Project a platinum mine in Limpopo province South Africa Platreef is expected to eventually be one of the world s largest platinum mines 12 References edit Ivanplats shares rise IPO values miner at C 2 5 billion Reuters 2012 10 17 Retrieved 2018 03 02 Ivanplats becomes Ivanhoe Mines Mining News www miningne ws Retrieved 2018 03 02 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 Ivanhoe Mines Assays Confirm Kakula West High Grade Copper Discovery www juniorminingnetwork com Retrieved 2017 04 10 Ivanhoe drills Kamoa Kakula s best intersection to date MINING COM 2019 01 30 Retrieved 2020 02 10 a b Ivanhoe s giant Kamoa Kakula copper project in DRC keeps getting bigger MINING COM 2020 02 05 Retrieved 2020 02 10 Ivanhoe Mines Ivanhoe Mines Retrieved 2020 02 10 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 Friedland confident Congo copper mine will be world s second largest MINING COM 2019 02 06 Retrieved 2020 02 10 Ivanhoe taps Glencore for 250 million to start Kipushi zinc mine ahead of schedule Mining com April 27 2023 Kilian Anine Ivanhoe installs new crusher at Kipushi mine Mining Weekly Retrieved 2020 02 10 Ivanhoe OK to build one of world s biggest platinum mines MINING com MINING com 2014 11 05 Retrieved 2018 03 02 nbsp Companies portal Retrieved from https en wikipedia org w index php title Ivanhoe Mines amp oldid 1168291842, wikipedia, wiki, book, books, library,
