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.”
Ivanhoe Mines Mining News
The company is currently drilling close-spaced holes at the new discovery to better understand its controls and orientation.
Moonlight has nearly 1.5 billion lb. copper, the company says.
Exploration drilling at the Kamoa North prospect area, which forms part of the company's Kamoa-Kakula mining licence, has defined two new, continuous corridors of shallow and high-grade copper mineralization.
The find, named Makoko, was the first of multiple high-potential target areas identified by the company’s exploration team to be tested by drilling.
The government considers minerals with the "strategic" designation important for the economic, social and industrial future of the country.
Transaction, which gives CITIC a 20% stake in the Canadian miner, has received all necessary approvals and it’s expected to close on Sep. 19
The Mining Promotion Initiative's main goal is to engage the government on industry concerns about the country’s new mining code.
After six months of lobbying, companies including Glencore and Randgold Resources have got nowhere in their battle to push back against a new mining law that voids existing agreements and increases their costs.
CITIC Metal will own 20% of the Canadian miner, which makes its biggest shareholder.
Congo's prime minister wants to immediately implement the new mining code without any concessions to industry demands that key provisions be amended.
They said they expected authorities to realize the sliding scale they propose would be a more effective mechanism for the government to share in higher commodity prices than the windfall tax and strategic minerals scheme included in the new code.
The proposal, signed by companies responsible for 85% of the DRC's copper, cobalt and gold output, suggest that sliding royalties will give the government a higher share of revenues.
A new mining code in the cobalt-rich Congo will lead to higher costs for consumers of the battery metal at a time automakers are expanding production of electric vehicles, experts say.
Robert Friedland, founder and executive chairman of Ivanhoe Mines, said he would be happy to pay higher taxes if there is stability in Congo's rules and transparency in the accounting of those royalties.
Some of the company’s international mining partners include major names such as Glencore, China Molybdenum and Ivanhoe.
DRC stuns miners with immediate lifting of 10-year exemption for licensees, 50% tax on 'super-profits' and code permitting 5-fold increase in cobalt royalty.
Vancouver-based company headed by billionaire mining financier Robert Friedland loses 11% of its value after DRC stuns with new mining code.
The engine that drives his confidence comes in the form of electric vehicles.
The nation, responsible for about two thirds of global output, plans to increase tax on cobalt to 5% from 2%.
The World Bank-supported mining legislation was introduced to attract investment into copper and cobalt projects from global miners including Glencore Plc, Freeport-McMoRan Inc. and China Molybdenum Co. Gécamines claims country has not benefited from it.
But ex-Sprott, Ivanhoe, Novagold board member stands by comments: “If stating some historical facts makes me a racist, then I suppose that I am a racist.”
New controls aims at holding the company's partners, including Glencore, China Molybdenum and Ivanhoe, accountable in copper and cobalt projects
Ivanhoe boss transforms what could have been a set of exciting drill results into 43 holes of “global significance in the copper world”.
Judge revoked an interim order that prevented the company from relocating graves present at its Platreef platinum group metals mine, in Limpopo Province.