Ivanhoe’s Kamoa-Kakula mine starts copper production

Canada’s Ivanhoe Mines (TSX:IVN) has begun producing copper concentrate at its Kamoa-Kakula project in the Democratic Republic of Congo months ahead of schedule as the metal continues to trade close to all-time highs.

Kakula, the first mine planned at the concession, is initially forecast to generate 3.8 million tonnes of ore a year at an average feed grade “well in excess of 6% copper” over the first five years of operation.

Ivanhoe and partner Zijin Mining said first ore was introduced into the concentrator plant on May 20 to perform initial hot commissioning tests on the ball mills and other processing equipment.

Operations are set to ramp up this year to reach between 80,000 and 95,000 tonnes of copper in concentrate, eventually reaching an annual peak of more than 800,000 tonnes.

As of May 25, 5% to 6% of copper ore was being conveyed directly from Kakula’s underground mining operations to the run-of-mine stockpile and the concentrator, they said.

Operations are set to ramp up this year to reach between 80,000 and 95,000 tonnes of copper in concentrate. After several phases of expansion the mine’s peak annual copper production will be more than 800,000 tonnes.

Ivanhoe’s co-chairperson Robert Friedland, who made his fortune from the Voisey’s Bay nickel project in Canada in the 1990s, has been working on Kamoa-Kakula for ten years.

The mining veteran believes the project will become the world’s second-largest copper mine and also the one with the highest grades among major operations. The concentrator is slated to produce concentrate grading around 57% copper.

The Vancouver-based company has also vowed to produce the industry’s “greenest” copper, as it works to become the first net-zero operational carbon emitter among the world’s top-tier copper producers. Friedland has not seta target date for achieving such goal.

Expansion in sight

Given the current copper price environment, Ivanhoe and Zijin are exploring expanding production capacity from the current 7.6 Mtpa capacity (to be implemented in two phases of 3.8 Mtpa) to 11.4 Mtpa. This may be achieved by adding output from other targets in the concession — Kansoko, Kamoa North (including the Bonanza Zone) and Kakula West.

Kamoa-Kakula is a strategic partnership between Ivanhoe Mines (39.6%), Zijin Mining Group (39.6%), Crystal River Global Limited (0.8%) and the DRC government (20%).

More to come…

from MINING.COM https://ift.tt/3fQ7se7