US Technology Firms Explore Future Copper Supply Deals With Ivanhoe
US Tech Firms Explore Long-Term Copper Deals Linked to Ivanhoe’s DRC Project
US technology companies are exploring potential agreements with Ivanhoe Mines to secure future copper supplies from the company’s Western Forelands project in the Democratic Republic of Congo (DRC), according to people familiar with the discussions.
The potential arrangements could include long-term agreements to purchase future copper production or provide financing to support development of the project, offering Ivanhoe an alternative source of capital as it advances the large-scale copper discovery.
The Western Forelands project is located adjacent to Ivanhoe’s Kamoa-Kakula Copper Complex in the DRC and covers approximately 2,426 square kilometres.
The Makoko District, which forms part of the project, was discovered in 2018 and has continued to expand through exploration drilling.
Ivanhoe’s latest resource update shows that the Makoko District contains 34 million tonnes of indicated resources grading 2.66% copper and 612 million tonnes of inferred resources grading 1.80% copper.
The company plans to commence a scoping study for Makoko in the first quarter of 2027 as it evaluates development options for the deposit.
Ivanhoe has also outlined a 120,000-metre drilling programme for 2027, focused largely on infill drilling to improve confidence in shallow inferred mineralisation and potentially upgrade resources into the indicated category.
The development strategy is expected to draw on the experience gained from Kamoa-Kakula, with Ivanhoe assessing opportunities to develop shallow, potentially open-pit copper resources at Makoko.
The Western Forelands exploration programme is one of Ivanhoe’s major capital commitments.
The company has allocated an increased US$86 million exploration budget for 2026, with more than 94,000 metres of drilling planned across the project.
Potential participation by technology companies could provide another financing route as demand for copper continues to increase across sectors such as data centres, electronics, power infrastructure and electrification.
Ivanhoe also continues to invest in its producing and developing assets, including Kamoa-Kakula and Kipushi in the DRC and Platreef in South Africa.
The potential supply agreements would reflect growing interest from technology and other industrial companies in securing long-term access to copper, a key input for electricity networks, renewable energy infrastructure and advanced technology manufacturing.
