Ivanhoe Mines strengthens operations and project capabilities with key executive appointments
September 6, 2022
Ivanhoe Mines strengthens operations and project
capabilities with key executive appointments
■
Ivanhoe appoints Mark Farren as Chief Operating Officer and
Steve Amos as Executive Vice President, Projects
■
Kamoa Copper achieves a record 34,408 tonnes of copper
floated in August
JOHANNESBURG, SOUTH AFRICA – Ivanhoe Mines (TSX: IVN; OTCQX: IVPAF)
Executive Co-Chair Robert Friedland and President Marna Cloete announce today the
appointment of Mr. Mark Farren and Mr. Steve Amos to Ivanhoe Mines from the
company’s Kamoa Copper Joint Venture in the Democratic Republic of the Congo
(DRC).
Mr. Farren worked at Ivanhoe Mines as Executive Vice President, Operations, between
June 2014 and October 2019. As development commenced on Phase 1 of the Kamoa-
Kakula Mining Complex, Mr. Farren was appointed Chief Executive Officer of the Kamoa
Copper Joint Venture to lead it through construction and commissioning. Prior to
joining Ivanhoe, Mr. Farren served a total of 22 years, in progressively senior roles, in
the South African operations of Johannesburg-based Anglo American Platinum
(Amplats), culminating in his appointment as the group’s Head of Mining. Mr. Farren
returns to Ivanhoe Mines as Chief Operating Officer effective November 1, 2022, after
retiring from his position as Chief Executive Officer of the Kamoa Copper Joint Venture
in June 2022.
Mr. Amos, who worked at Ivanhoe Mines from 2011 as Vice President, Metallurgy, was
appointed in 2019 to the Kamoa Copper Joint Venture as Head of Projects for the DRC.
Mr. Amos has over 30 years of mining industry experience, and began his career
working for Anglo American, where he spent 16 years working in the areas of precious
metals processing in South Africa and copper processing in Zambia. He then spent 6
years at Engineering, Procurement and Construction Management (EPCM) specialist
AMEC Minproc (now part of Wood Group). Mr. Amos returns to Ivanhoe Mines, effective
immediately, as Executive Vice President, Projects, and will report to Mr. Farren.
Mr. Farren and Mr. Amos oversaw the outstanding project delivery of both Kamoa-
Kakula Phase 1 and Phase 2, which were both constructed during the COVID-19
pandemic, several months ahead of schedule and on budget.
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Mr. Farren and Mr. Amos will continue to guide the delivery of the extensive Ivanhoe
Mines project pipeline. This includes the 5.0-million-tonne-per annum Phase 3
expansion at the Kamoa-Kakula Mining Complex and accompanying direct-to-blister
copper smelter with a capacity of 500,000-tonnes-per-annum. Mr. Farren and Mr. Amos
have been actively involved in the early engineering and planning for both projects. In
addition, they will oversee the construction of the Platreef palladium, rhodium, nickel,
platinum, copper, and gold project in South Africa, and the restart of the high-grade
zinc, copper, lead, germanium Kipushi mine in the DRC.
(L-R) Mark Farren, incoming Ivanhoe Mines COO; Steve Amos, Ivanhoe Mines
Executive Vice President, Projects; and Wimpie Steyn, Kamoa Copper Risk
Control Manager, holding some of Kamoa-Kakula’s first copper concentrate in
March 2021.
As previously announced, Mr. Riaan Vermeulen replaced Mr. Farren as the Managing
Director of the Kamoa Copper Joint Venture in June 2022, following a transition period.
Mr. Vermeulen has more than 32 years of underground and open-pit mining experience
in various operational, project and technical management roles, including Acting Head
of Mining: Base Metals for Anglo American. Mr. Vermeulen also worked closely with Mr.
Farren at Anglo Platinum, where they designed and built Anglo Platinum’s most
efficient underground mine, the Middelpunt Hill Platinum Mine in South Africa.
Mr. Vermeulen is currently overseeing the delivery of the debottlenecking program to
increase the Phase 1 and 2 processing capacity from 7.6 million to 9.2 million tonnes
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per annum, as well as the Phase 3 Pre-Feasibility Study that is planned for release at the
end of the year.
In addition, Ms. Annebel Oosthuizen was appointed as the Chief Executive, Commercial
for Kamoa Copper. She joined the Kamoa-Kakula project in 2015 and has served in
progressively senior roles within the finance department, most recently as Executive,
Finance.
Ms. Oosthuizen has 15 years of financial management experience in the mining sector
across Africa. She was appointed to Kamoa Copper’s Executive Committee in 2020 and
has served a critical role in ensuring a seamless and successful transition from Kamoa-
Kakula’s development phase to its operational phase, as well as the commercial
management of the self-funded Phase 2 expansion and the upcoming Phase 3 and
smelter expansions.
Mr. Vermeulen and Ms. Oosthuizen will serve as Ivanhoe Mines senior management
designees in the Kamoa-Kakula joint-venture.
(L-R) Annebel Oosthuizen the Chief Executive, Commercial & Riaan Vermeulen
the Managing Director of Kamoa Copper
Ivanhoe Mines Executive Co-Chair, Robert Friedland commented:
“Mark and Steve are exceptional leaders who have been integral in the highly
successful development of the Kamoa-Kakula Mining Complex in the Democratic
Republic of Congo, which now is the fastest growing copper operation on the planet.
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They demonstrated great ingenuity and tenacity in delivering this world-scale project,
alongside our joint-venture partner Zijin Mining, on-time and on-budget despite the
many challenges presented by the COVID-19 pandemic. They also bring a wealth of
industry and operational experience across Africa. We are extremely confident that
Mark and Steve will continue to build upon Ivanhoe Mines' track-record of operational
excellence and industry-leading value creation, as we advance the world-scale Platreef
and Kipushi projects to production and continue our journey as we become the world's
next major, diversified mining company.”
Ivanhoe Mines President Marna Cloete added:
“We are very happy to welcome Mark and Steve back to the Ivanhoe family. They did a
fantastic job leading large, multinational teams alongside our joint venture partners
during Kamoa-Kakula's development. The experience they gained during that process
will be invaluable as we embark on mine construction activities at Platreef and Kipushi.
Mark and Steve have demonstrated the energy, commitment and ability needed to plan
and execute world-scale construction projects, and successfully advance tier-one ore
bodies to production, while also creating strong working environments built on safety,
teamwork, and compassion. These appointments greatly enhance Ivanhoe’s executive
team as we undertake an exciting period of industry-leading growth and development.
We're also very confident that the Kamoa Copper Joint Venture remains in strong
hands, with Riaan and Annebel set to guide the project through the Phase 3 expansion
and smelter construction with our partners at Zijin Mining.”
Kamoa Copper floated record 34,408 tonnes of copper in August
During the month of August, Kamoa Copper milled 686,217 tonnes of ore at an average
feed grade of 5.8% copper, equivalent to an annualized processing rate of
approximately 8.2 million tonnes for Phase 1 and 2.
Kamoa Copper floated 34,408 tonnes of copper, a monthly record, and produced 31,150
tonnes of filtered copper in concentrate for sale. The floated copper production for the
month is equivalent to an annualized production rate of approximately 405,000 tonnes
of copper.
The difference between floated and filtered copper arises because of the current
bottleneck in filter capacity as the Phase 1 and 2 milling and flotation circuit continues
to exceed design capacity. Floated copper is temporarily stored as a slurry in a fully
lined dam, which is estimated to contain approximately 6,500 tonnes of copper as at
end of August, until it can be reclaimed in the concentrate thickener and filter press.
As part of the de-bottlenecking initiatives, a fourth Larox filter press from Metso
Outotec of Espoo, Finland, is expected to arrive on site in the coming months for
commissioning in January 2023. In the meantime, Kamoa Copper management are
working on initiatives to maximize the capacity of the existing three filter presses.
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Construction activities for Kamoa-Kakula’s fourth Larox concentrate filter press
are advancing well. This is part of Kamoa-Kakula’s de-bottlenecking program to
boost Phase 1 and Phase 2 ore throughput to 9.2 million tonnes per annum.
Structural steel and platework erection for the additional concentrate thickener.
The debottlenecking program will increase annualized production to
approximately 450,000 tonnes of copper in concentrate by Q2 2023.
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Slope stabilization and earthworks are advancing well at the site for Kamoa-
Kakula's direct-to-blister flash smelter, which is expected to be commissioned by
the end of 2024.
Qualified Persons
Disclosures of a scientific or technical nature at the Kamoa-Kakula Mining Complex in
this news release have been reviewed and approved by Steve Amos, who is considered,
by virtue of his education, experience and professional association, a Qualified Person
under the terms of NI 43-101. Mr. Amos is not considered independent under NI 43-101
as he is the Executive Vice President, Projects, of Ivanhoe Mines. Mr. Amos has verified
the technical data disclosed in this news release.
Ivanhoe has prepared an independent, NI 43-101-compliant technical report for the
Kamoa-Kakula Project, which is available on the company’s website and under the
company’s SEDAR profile at www.sedar.com:
• Kamoa-Kakula Integrated Development Plan 2020 dated October 13, 2020,
prepared by OreWin Pty Ltd., China Nerin Engineering Co., Ltd., DRA Global,
Epoch Resources, Golder Associates Africa, KGHM Cuprum R&D Centre Ltd.,
Outotec Oyj, Paterson and Cooke, Stantec Consulting International LLC, SRK
Consulting Inc., and Wood plc.
The technical report includes relevant information regarding the assumptions,
parameters and methods of the mineral resource estimates on the Kamoa-Kakula
Mining Complex cited in this news release, as well as information regarding data
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verification, exploration procedures and other matters relevant to the scientific and
technical disclosure contained in this news release.
About Ivanhoe Mines
Ivanhoe Mines is a Canadian mining company focused on advancing its three principal
projects in Southern Africa: the newly expanded, mechanized, underground mines at
the Kamoa-Kakula Mining Complex in the Democratic Republic of Congo, the
development of the Platreef palladium-rhodium-platinum-nickel-copper-gold discovery
in South Africa; and the restart of the historic Kipushi zinc-copper-germanium-silver
mine, also in the Democratic Republic of Congo.
Kamoa-Kakula Mining Complex is one of the highest-grade and fastest growing major
copper mining operations in the world. Copper concentrates were first produced in May
2021 and, through on-going phased expansions, it is positioned to become one of the
world's largest copper producing operations. Kamoa-Kakula’s 2022 production
guidance is between 310,000 to 340,000 tonnes of copper in concentrate
The Kamoa-Kakula Mining Complex is powered by clean, renewable hydro-generated
electricity and is among one of the world’s lowest greenhouse gas emitters per tonne of
copper metal produced. Ivanhoe Mines has pledged to achieve net-zero operational
greenhouse gas emissions (Scope 1 and 2) at the Kamoa-Kakula Mining Complex.
The Kamoa-Kakula Mining Complex is operated by Kamoa Copper, a joint venture
between Ivanhoe Mines (39.6%), Zijin Mining Group (39.6%), Crystal River Global
Limited (0.8%) and the DRC government (20%).
Ivanhoe Mines is also exploring for new copper discoveries across its circa 2,400km2 of
wholly-owned exploration licences in the Western Foreland, which are located adjacent
to the Kamoa-Kakula Mining Complex in the Democratic Republic of Congo.
Information contact
Investors
Vancouver: Matthew Keevil +1.604.558.1034
London: Tommy Horton +44 7866 913 207
Media
Vancouver: Tanya Todd +1.604.331.9834
Website www.ivanhoemines.com
Forward-looking statements
Certain statements in this release constitute “forward-looking statements” or “forward-looking
information” within the meaning of applicable securities laws. Such statements and information
involve known and unknown risks, uncertainties and other factors that may cause the actual
results, performance or achievements of the company, its projects, or industry results, to be
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materially different from any future results, performance or achievements expressed or implied
by such forward-looking statements or information. Such statements can be identified by the
use of words such as “may”, “would”, “could”, “will”, “intend”, “expect”, “believe”, “plan”,
“anticipate”, “estimate”, “scheduled”, “forecast”, “predict” and other similar terminology, or state
that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur
or be achieved. These statements reflect the company’s current expectations regarding future
events, performance and results and speak only as of the date of this release.
Such statements include without limitation: (i) statements that an updated pre-feasibility study
for Phase 3 is scheduled for the end of 2022; (ii) statements regarding Kamoa-Kakula being
the world’s fastest growing copper operation; (iii) statements regarding first copper production
from Phase 3 expected in by the end of 2024; (iv) statements regarding the Phase 1 and 2 de-
bottlenecking program increasing combined throughput to 9.2 million tonnes of copper
concentrate per year by Q2 2023 and increasing annual copper production to more than
450,000 tonnes; (v) statements regarding floated copper production for August is equivalent to
an annualized production rate of approximately 405,000 tonnes of copper; (vi) statements
regarding Kamoa-Kakula will be among the world's lowest greenhouse gas emitters per unit of
copper produced; (vii) statements on achieving net-zero operational greenhouse gas
emissions (Scope 1 and 2) at the Kamoa-Kakula Copper Mine; (viii) statements regarding the
Phase 3 expansion to include a third 5 million-tonne-per-annum concentrator; (ix) statements
regarding Kamoa Copper’s first copper metal production from on-site flash smelter expected in
Q4 2024; (x) statements regarding the slurry in a fully lined dam estimated to contain
approximately 6,500 tonnes of copper as at end of August; (xi) statements regarding the
Kamoa-Kakula smelter nameplate capacity of 500,000 tonnes a year of approximately 99%-
pure blister copper; (xii) statements that a fourth Larox filter press from Metso Outotec of
Espoo, Finland, is expected to arrive on site in the coming months for commissioning in
January 2023; (xiii) statements regarding equivalence to an annualized processing rate of
approximately 8.2 million tonnes for Phase 1 and 2.
As well, all of the results of the Kakula definitive feasibility study, the Kakula-Kansoko pre-
feasibility study and the Kamoa-Kakula preliminary economic assessment, constitute forward-
looking statements or information, and include future estimates of internal rates of return, net
present value, future production, estimates of cash cost, proposed mining plans and methods,
mine life estimates, cash flow forecasts, metal recoveries, estimates of capital and operating
costs and the size and timing of phased development of the projects. Furthermore, with
respect to this specific forward-looking information concerning the development of the Kamoa-
Kakula Project, the company has based its assumptions and analysis on certain factors that
are inherently uncertain. Uncertainties include: (i) the adequacy of infrastructure; (ii) geological
characteristics; (iii) metallurgical characteristics of the mineralization; (iv) the ability to develop
adequate processing capacity; (v) the price of copper; (vi) the availability of equipment and
facilities necessary to complete development; (vii) the cost of consumables and mining and
processing equipment; (viii) unforeseen technological and engineering problems; (ix) accidents
or acts of sabotage or terrorism; (x) currency fluctuations; (xi) changes in regulations; (xii) the
compliance by joint venture partners with terms of agreements; (xiii) the availability and
productivity of skilled labour; (xiv) the regulation of the mining industry by various
governmental agencies; (xv) the ability to raise sufficient capital to develop such projects; (xvi)
changes in project scope or design; and (xvii) political factors.
Forward-looking statements and information involve significant risks and uncertainties, should
not be read as guarantees of future performance or results and will not necessarily be accurate