AFRICA – Canadian based mining company, Ivanhoe Mines has entered into a strategic partnership agreement with the China Nonferrous Metal Mining (CNMC) that will see the two companies collaborate in expanding their foot print in Africa’s mineral industry.
According to a statement by Mining Weekly, the group will jointly examine exploration, development and the acquisition of mineral projects.
Ivanhoe and CNMC will also work together in considering production, smelting and logistics opportunities in Africa.
Ivanhoe co-chairperson Robert Friedland said in a statement that “the time to act to address the looming shortfall in key, green metals, is now”.
“The strategic partnership with CNMC will provide significant opportunities for collaboration on mineral exploration, mine planning, development and acquisition of mineral projects,” Friedland explained.
He added that Ivanhoe and CNMC also have significant opportunities in logistics and smelting, beginning with examining the synergies between the operations currently owned by the two companies.
Headquartered in Beijing, China, CNMC’s diverse project portfolio includes the Lualaba copper smelter, in the Democratic Republic of Congo (DRC), which began commercial operations earlier this year.
Lualaba is the first modern, large, pyrometallurgical copper smelter built in the DRC and is located about 45 km from Ivanhoe’s Kamoa-Kakula copper joint venture (JV).
CNMC also recently began operations at the Deziwa copper/cobalt mine, a JV with the DRC’s State mining company Gécamines.
Ivanhoe Mines, on the other hand, is focused on advancing its three principal projects in Southern Africa.
One of Ivanhoe’s major project is the development of new mines at the Kamoa-Kakula copper discoveries in the Democratic Republic of Congo (DRC).
It is also heavily involved in the Platreef palladium-platinum-nickel-copper-rhodium-gold discovery in South Africa; and in the extensive redevelopment and upgrading of the historic Kipushi zinc-copper-germanium-silver mine, in the DRC.
Earlier this month, Ivanhoe Mines reported that progress at its flagship Kakula copper discovery in the Democratic Republic of Congo (DRC) was on track and it anticipates producing to start in the third quarter of 2021.
According to a statement by Mining Weekly, the group will jointly examine exploration, development and the acquisition of mineral projects.
Ivanhoe and CNMC will also work together in considering production, smelting and logistics opportunities in Africa.
Earlier this month, Ivanhoe Mines reported that progressing at its flagship Kakula copper discovery in the Democratic Republic of Congo (DRC) were on track and it anticipates producing to start in the third quarter of 2021.
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