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Ivanhoe Mines Ltd T.IVN

Alternate Symbol(s):  IVPAF

Ivanhoe Mines Ltd. is a Canada-based mining, development, and exploration company. The Company is focused on the mining, development and exploration of minerals and precious metals from its property interests located primarily in Africa. Its projects include The Kamoa-Kakula Copper Complex, The Kipushi Project, The Platreef Project., and The Western Foreland Exploration Project. The Kamoa-Kakula Copper Complex project stratiform copper deposit with adjacent prospective exploration areas within the Central African Copperbelt, approximately 25 kilometers (km) west of the town of Kolwezi and about 270 km west of the provincial capital of Lubumbashi. The Kipushi mine is adjacent to the town of Kipushi in the Democratic Republic of the Congo (DRC) approximately 30 km southwest of the provincial capital of Lubumbashi. The 21 licenses in the Western Foreland cover a combined area of 1,808 square kilometers to the north, south and west of the Kamoa-Kakula Copper Complex.


TSX:IVN - Post by User

Post by wawahunt2on May 28, 2021 6:47am
168 Views
Post# 33284460

May 27 2021 DRC

May 27 2021 DRC

DRC bans export of cobalt, copper concentrate – Fastmarkets

Kamoa-Kakula mining complex. (Image courtesy of Ivanhoe Mines)

An order sent to miners in the Democratic Republic of Congo (DRC) on Wednesday has banned the export of copper and cobalt concentrate, according to Fastmarkets.

The data provider said it confirmed with three companies operating copper and cobalt mines in DRC that they all received the notice, signed by Bernard Bosele Pilipilithe provincial director of Customs and Excise in the Katanga province of DRC.

SIGN UP FOR THE COPPER DIGEST

At present, the trucks carrying copper and cobalt concentrate could still pass through the border, and the effective date of the order is not mentioned, sources said. 

The order comes on the same week Ivanhoe Mines (TSX: IVN) announced the beginning of production of copper concentrate at its Kamoa-Kakula project in the DRC, months ahead of schedule as the metal continues to trade close to all-time highs.

Kakula, the first mine planned at the concession, is initially forecast to generate 3.8 million tonnes of ore a year at an average feed grade “well in excess of 6% copper” over the first five years of operation, the company said.


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