IVPAF, Ivanhoe Mines, Canada-based:
This will be a 10-bagger if:
1. copper price >4$/lb LT
2. max 800,000 tons/y copper production ramp-up happens on schedule (by 2028?)
3. DRC political/military conditions allow
4. continued good cooperation between JV partners Ivanhoe and Chinese.
Kamoa-Kakula in DRC:
5-2021: first copper concentrate produced
The Kamoa-Kakula Project. A joint venture between Ivanhoe Mines and Zijin Mining Group Co., Ltd., (“Zijin” or “Zijin Mining”) within the Central African Copperbelt in the Democratic Republic of Congo’s (DRC) southern Lualaba province. Following the signing of an agreement with the DRC government in November 2016 to transfer an additional 15% interest in the Kamoa-Kakula Project to the government of the DRC, Ivanhoe Mines and Zijin Mining each hold an indirect 39.6% interest in the Kamoa-Kakula Project, Crystal River Global Limited (Crystal River) holds an indirect 0.8% interest and the DRC government holds a direct 20% interest. The Kamoa-Kakula Project is independently ranked as the world’s fourth largest copper deposit.
The combined Kakula-Kansoko production benefits from an ultra-high feed grade averaging 6.2% copper over the first five years of operations, and 4.5% copper on average over a 37- year mine life.
The 19-Mtpa scenario shows the potential for average annual production of 501,000 tonnes of copper at a total cash cost of $1.07/lb copper during the first 10 years of operations, and production of 805,000 tonnes of copper by year eight. At this future production rate, Kamoa-Kakula would rank as the world’s second largest copper mine.
At a 1% cut-off, the current, combined Indicated Mineral Resources for the Kamoa-Kakula Project now totals 1.387 billion tonnes grading 2.74% copper, containing 83.7 billion pounds of copper. At the same 1% cut-off, Kamoa-Kakula’s combined Inferred Mineral Resources now totals 339 million tonnes grading 1.68% copper, containing 12.5 billion pounds of copper.
The Company closed a private placement offering of $575.0 million of 2.50% convertible senior notes maturing in 2026 on March 17, 2021.
2 other mines in development:
Kipushi, zinc, in DRC
Platreef, platinum, in S. Africa |
