Ivanhoe mines is currently holding strategic talks on its Western Forelands project in the Democratic Republic of the Congo (DRC) and its Platreef project in South Africa’s Bushveld Complex. The Canadian miner received several expressions of interest or the Platreef project from streaming companies.
Platreef project’s resources comprise platinum-group metals (PGMs), nickel, copper and gold. On the other hand, the Western Forelands’ exploration licences are located next to Ivanhoe’s Kamoa-Kakula project in Congo’s copperbelt.
Kamoa-Kakula project is a joint venture between Ivanhoe Mines (39.6%), Zijin Mining (39.6%), Crystal River Global (0.8%) and the Government of DRC (20%). Ivanhoe is also reportedly continuing with strategic talks for its Kipushi copper project in the DRC.
The firm’s executive co-chairman Robert Friedland said that following their discoveries as well as the financial potential in each of their projects, they have been receiving daily inquiries from companies across the industry and world, from the West as well as China, and from streaming companies and various bank and non-bank lenders, inquiring about investing in their projects. He further added that the portrayed level of interest requires that Ivanhoe critically examines these opportunities.
Earlier this month, Ivanhoe Mines provided an update on underground development progress of its Kakula copper mine in the DRC. The company completed over 17km of underground development at the mine, of which 5.1km is ahead of the original schedule.
On 6 July, Ivanhoe reported that its Kamoa-Kakula project procured a polymerize chain reaction (PCR) testing device from German company Bosch as part of its Covid-19 readiness initiatives.
