Ivanhoe Mines Executive Chairman Robert Friedland to address current developments involving D.R. Congo’s mining code in keynote presentation February 7 at Cape Town Mining Indaba
February 5, 2018
Ivanhoe Mines Executive Chairman Robert Friedland to address
current developments involving D.R. Congo’s mining code
in keynote presentation February 7 at Cape Town Mining Indaba
TORONTO, CANADA – Robert Friedland, Executive Chairman of Ivanhoe Mines (TSX: IVN;
OTCQX: IVPAF), said today that he plans to directly address potential changes that have been
proposed to the Democratic Republic of Congo’s mining code during his keynote presentation
at the Mining Indaba in Cape Town, South Africa, this Wednesday, February 7.
Mr. Friedland’s presentation is scheduled to begin at 9 a.m. Cape Town time, 7 a.m. London
time and 2 a.m. New York and Toronto time. The annual conference – Africa’s largest mining
event – is attended by political leaders, government ministers and representatives of most
African nations, international investors, financial institutions, mining industry executives and
major news media.
Proposed changes to DRC mining code are not law today
Ivanhoe Mines understands that draft legislation to amend the DRC’s 2002 mining code has
been approved by the country’s National Assembly and Senate. However, before any of the
proposed changes in the draft legislation become law, they first must receive final approval in
the form of the DRC President’s signature – and that has not occurred to this point in time.
Mr. Friedland announced that Ivanhoe Mines has agreed to work with key decision makers of
other major international mining companies to establish a new organization dedicated to
advancing open, accountable and sustainable mining in the DRC, based on recognized, best
international practices and complete transparency of the entire supply chain.
“Ivanhoe Mines, in common with all international participants in the DRC mining industry,
expects that the government will respect and protect the spirit and the letter of the current
mining code. However, there remains the distinct possibility of unified, industry-led actions if
the proposed changes do become law,” Mr. Friedland said.
“Ivanhoe supports a fair and equitable distribution of profits and benefits between the
government, surrounding communities and international investors; we also equally support the
upholding and fulfilment of prior government commitments to foster investments in mine
developments.
“We are absolutely determined to see that any additional revenues generated from our projects
directly benefit the Congolese people. We also expect to receive assurances that previous
agreements will continue to be honoured to safeguard the DRC’s future as an important
destination for mining investment. ”
2
Ivanhoe’s 20 years of DRC commitment – and counting
Mr. Friedland said that the Ivanhoe group of companies has been continuously active in the
DRC for more than 20 years.
“Nine years ago, when we announced our initial copper discovery at the Kamoa Project, we
said that ‘Kamoa will advance the Democratic Republic of Congo’s stature as one of the
world’s most important copper producers. Kamoa will become an important pillar of the
country’s economy and help to build sustainable livelihoods and communities through social
and economic programs responsive to local needs – all of which is extremely good news in the
heart of Africa.’
“Our ongoing discoveries already have established Kamoa-Kakula as one of the five largest
copper deposits in the world, containing the world’s richest copper grades.
“Today, we are proud to be able to say that we certainly have delivered on our 2009
undertakings. And, to be sure, we are just getting started. We resolutely stand by our
statements that we made nine years ago.”
Mr. Friedland added: “I’m looking forward to providing a comprehensive update to the
assembled international investors, African ministers and members of the media during our
Indaba presentation, on behalf of our shareholders and our South African as well as
Congolese stakeholders.”
About Ivanhoe Mines
Ivanhoe Mines is advancing its three principal projects in Southern Africa: 1) Mine
development at the Platreef platinum-palladium-gold-nickel-copper discovery on the Northern
Limb of South Africa’s Bushveld Complex; 2) mine development and exploration at the Tier
One Kamoa-Kakula copper discovery on the Central African Copperbelt in the DRC; and 3)
upgrading at the historic, high-grade Kipushi zinc-copper-silver-germanium mine, also on the
DRC’s Copperbelt. For details, visit www.ivanhoemines.com.
Information contacts
Investors
Bill Trenaman +1.604.331.9834
Media
North America: Bob Williamson +1.604.512.4856
South Africa: Jeremy Michaels +27.82.772.1122