Ivanhoe can now finance Kakula and Kipushi mine to commercial production, and significantly advance, or achieve, production at the company’s Platreef Project in South Africa.
DRC Mining News
Commercial production at the tin mine, which is surrounded by dense forest, deeply weathered soils and experiences high rainfall, is expected in the second half of the year.
This second major cash injection brings the Chinese miner's total investment in Ivanhoe to $1 billion, which gives the Canadian company the equity cushion required to build its massive Kamoa-Kakula copper mine.
Decision was made to give more artisanal and small-scale miners (ASM) the opportunity to benefit from the program, which helps them trace route of their diamonds throughout the supply chain.
The initiative could see it ban or delist brands that can’t prove they are responsibly sourced by 2022.
Jeff Gerard named to the top job, taking over from Danny Callow.
The company said Felix Tshisekedi had confirmed his intention of working with miners to keep growing the Central African nation’s gold sector.
In its current form, the epidemic won’t impact the nation’s cobalt production, as the vast distance from the Katanga region largely prevents its spread, says global risk consultancy Verisk Maplecroft.
“They have so much cash they don’t know what to do with it. We’re glad that they are giving it back.”
Ghanaian President Nana Akufo-Addo issued a firm warning: stop expecting supercharged profits from Africa’s mineral riches.
Is the LME trying to create a reputational green wash that allows it to say its members source responsibly because they tick some boxes?
The founder of Ivanhoe Mines said the Kamoa-Kakula project is “on track to become one of the absolute greatest copper mining complexes in the world.”
Production of cobalt, used in batteries for EV's, reached 42,200 tonnes in 2018 while copper hit 1.453 million tonnes.
The company is currently drilling close-spaced holes at the new discovery to better understand its controls and orientation.
While lithium spot prices moved only one way in 2018, cobalt experienced more of a rollercoaster ride.
"Historically it was a world-class producer, so we know cobalt is there."
“We don’t believe that threatening one’s partner is a constructive way to go about solving problems.”
Company has agreed to buy BHR Newwood DRC Holdings Ltd, a holding company set up by private equity firm BHR to buy a 24% stake in the Congo mine in 2017.
The carmaker will use a blockchain-based platform to trace supplies of cobalt from a Chinese-owned mine in the Congo for the batteries in its electric cars, in an effort to ensure they are not linked to human rights abuses.
Societe Miniere de Bisunzu (SMB), has given 30 days notice to end its contract with ITSCI, a responsible supply chain initiative, citing the scheme's rising costs.
Barrick now trades as GOLD in New York and continues as ABX in Toronto.
This weekend, the vast central African nation is banking on a new method: the ballot box.
The punishment from the OSC is a response to false accounting from Katanga that saw it overstate how much it mined in the Democratic Republic of Congo in 2014.
The DRC has a stranglehold on crucial battery material cobalt, but central African nation also has potential to become major lithium player.
The state miner is moving to increase its take from joint ventures with international miners such as Glencore and China Molybdenum, which it accuses of not bringing enough money to the country.