Ivanhoe Mines President Highlights Strategic Approach Amid Rising Interest in DRC Mining Success
Ivanhoe Mines is cautious about entering new partnerships for discoveries in the Democratic Republic of Congo (DRC), despite heightened interest from industry peers, according to President Marna Cloete.
The company, known for its success with the Kamoa Kakula joint venture, aims to avoid dilution and maintain control over its projects.
While Ivanhoe Mines prepares for the second-quarter production start at its Kipushi zinc mine and plans to expand output at Kamoa Kakula, the company is actively exploring the Western Forelands region in the DRC’s south. Drill results from the Kitoko discovery indicate promising copper concentrations.
Cloete emphasized the importance of strategic decision-making, citing the company’s wait-and-see approach before selling a stake in Kamoa Kakula.
Despite admitting that, in hindsight, they might have handled the deal differently, the collapse in commodity prices in 2015 influenced their decision to proceed with the $412 million deal.
The article discusses Ivanhoe Mines’ partnership with China’s Zijin Mining in the Kamoa Kakula joint venture and the collaborative efforts to manage risk while combining Western and Chinese project development approaches.
Cloete notes that the partnership provides a balanced approach to project execution, benefitting from both cautious study work and a more bullish, proactive mindset.
Regarding potential collaboration with Barrick Gold, Cloete remains discreet but acknowledges the shared attendance of the Future Minerals Forum in Saudi Arabia.
She highlights the ongoing efforts to ensure stable power supply at Kamoa Kakula, emphasizing the company’s commitment to sustainability and responsible practices.
The article concludes with insights into the challenges and opportunities of operating in the DRC, considering its political landscape and the company’s role in contributing to the local economy.
Cloete stresses the transformative impact of discoveries like Kamoa Kakula on the region’s economy, portraying risky jurisdictions as opportunities for growth and development.
SOURCE:mining.com
