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Ivanhoe Mines, Gecamines sign deal to develop Kipushi zinc mine

Reuters | February 14, 2022 | 8:55 am Top Companies Africa Zinc 
Congo auditor says $400m went missing from state mining company
The Kipushi zinc-copper-silver-germanium project in the DRC. (Image courtesy of Ivanhoe Mines.)

Ivanhoe Mines has signed an agreement with the Democratic Republic of Congo’s state mining company Gecamines to bring the Kipushi zinc mine back into commercial production, the Canada-listed miner said on Monday.

Kipushi will have an average grade of 36.4% zinc over the first five years of production, Ivanhoe said.

The deal, signed by Ivanhoe’s fully-owned subsidiary Kipushi Holding, sets out commercial terms towards a new joint-venture agreement, and is subject to execution of definitive documentation, Ivanhoe said.

(By Helen Reid; Editing by Jason Neely)

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