Ivanhoe Mines to issue independent definitive feasibility study and expansion studies for the tier one Kamoa-Kakula Copper Project
August 19, 2020
Ivanhoe Mines to issue independent definitive feasibility study
and expansion studies for the tier one Kamoa-Kakula Copper Project
on September 8, 2020
Ivanhoe plans to host an Investor Day on September 10, 2020,
to discuss the new studies and progress being made to bring the
project’s Phase 1 Kakula Mine to production
TORONTO, CANADA – Ivanhoe Mines (TSX: IVN; OTCQX:IVPAF) announced today that
on September 8, 2020, it plans to issue the independent definitive feasibility study for
the development of the 6 million-tonne-per-annum (Mtpa) Kakula Mine. The company
also will issue a pre-feasibility study, including mining 1.6 Mtpa from the nearby
Kansoko Mine, to take full advantage of an expanded plant capacity of 7.6 Mtpa at
Kakula. In addition, the company will issue an updated, expanded preliminary economic
assessment for the overall development plan of up to 19 Mtpa for all of the copper
discoveries made to date at the Kamoa-Kakula Project, in the Democratic Republic of
Congo (DRC).
The new definitive feasibility study, pre-feasibility study and updated, expanded
preliminary economic assessment will build on the outstanding results of the previous
studies announced in February 2019. The new definitive feasibility study will
incorporate the advancement of construction and development activities to date, and
the pre-feasibility study and expanded preliminary economic assessment will highlight
the potential to develop the Kamoa-Kakula Copper Project to a much larger scale, with a
significantly larger production capacity.
The Kakula 2020 definitive feasibility study, Kamoa-Kakula 2020 pre-feasibility study,
and Kamoa-Kakula 2020 preliminary economic assessment are being finalized by
leading industry consultants OreWin Pty Ltd. of Adelaide, Australia; DRA Global of
Johannesburg, South Africa; Stantec Consulting International LLC of Arizona, USA;
SRK Consulting Inc. of Johannesburg, South Africa; KGHM Cuprum R&D Centre Ltd. of
Wroclaw, Poland; and Wood plc of Reno, USA.
On September 10, 2020, Ivanhoe plans to host an inaugural virtual Investor Day to
discuss the findings of the independent engineering studies, including various options
under consideration to accelerate the planned expansions at the project. The Investor
Day will include a virtual site tour of the Kamoa-Kakula Project, as well as remarks from
Ivanhoe’s Co-Chairs Robert Friedland and Yufeng “Miles” Sun; the company’s
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President and CFO, Marna Cloete; and members of the company’s corporate
development and technical teams. It also will have a question and answer session.
Webcast and dial-in information for the Investor Day, as well as a detailed agenda, will
be provided at a later date.
Ivanhoe also plans to provide its regular monthly update of construction and
development progress at the Kakula and Kansoko mines during the first week of
September.
The Kamoa-Kakula Copper Project is a joint venture between Ivanhoe Mines (39.6%),
Zijin Mining Group (39.6%), Crystal River Global Limited (0.8%) and the DRC
government (20%).
About Ivanhoe Mines
Ivanhoe Mines is a Canadian mining company focused on advancing its three principal
joint-venture projects in Southern Africa: the development of major new, mechanized,
underground mines at the Kamoa-Kakula copper discoveries in the Democratic
Republic of Congo (DRC) and at 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. Kamoa-Kakula
and Kipushi will be powered by clean, renewable hydroelectricity and will be among the
world’s lowest greenhouse gas emitters per unit of metal produced. Ivanhoe also is
exploring for new copper discoveries on its wholly-owned Western Foreland exploration
licences in the DRC, near the Kamoa-Kakula Project.
Information contacts
Investors
Bill Trenaman +1.604.331.9834
Media
Matthew Keevil +1.604. 558.1034
Website www.ivanhoemines.com