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Ivanhoe advances projects in ‘productive’ Q2

Ivanhoe's Platreef exploration

Ivanhoe's Platreef exploration

13th August 2018

By: Marleny Arnoldi

Deputy Editor Online

     

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Canadian miner Ivanhoe Mines had a productive second quarter ended June 30, with underground development at the planned initial copper mine at Kakula, in the Democratic Republic of Congo (DRC), making steady progress.

The mine is expected to reach the high-grade copper mineralisation later this year.

The service and conveyor declines each have been advanced more than 600 m through underground development work, while the 3.5 km decline development contract is scheduled to be completed by the end of this year.

The detailed infrastructure designs for the bottom of the main decline, including rock tips, conveyor transfers, vent shaft and pump stations, have been completed, enabling procurement to start.

The company on Monday reported that the design of the conveyor system and truck-tipping station for the main decline is also well advanced.

Tender enquires for the various components of the conveyor system and truck-tipping station have been issued.

A prefeasibility study for Phase 1 of the Kamoa-Kakula project is under way and is expected to be completed by the end of this year. The initial, six-million-tonne-a-year mine at Kakula is estimated to cost $1.2-billion to develop.

Subsequent expansions and a smelter can be funded from cash flows or project finance. With the expanded mineral resource estimate done in February, Ivanhoe and its joint venture partner Zijin Mining are exploring options to accelerate building of the first two mines at Kamoa-Kakula, and the potential for expanding production to 18-million tonnes a year, and beyond.

A total of 18.6 km of drilling was completed at Kakula and surrounding areas within the Kamoa-Kakula mining licence during the second quarter, increasing the total drilling completed during the first six months of this year to 36 km.

The exploration programme was revised during the reporting period, taking into account results obtained during the Kakula West expansion campaign.

Additional exploration drilling has been planned to the north of Kakula West, following a narrow but high-grade continuation of Kakula West mineralisation. Further drilling was directed to infill, and to supply data for metallurgical, hydrogeological and civil geotechnical studies, as well as a condemnation hole for the planned tailings storage site.

Ivanhoe’s DRC exploration team is continuing with its regional drilling programme targeting Kamoa-Kakula-style copper mineralisation on its 100%-owned exploration licences in the Western Foreland region, located to the north and west of the Kamoa-Kakula mining licence area.

During the quarter, 6.8 km of drilling in 16 holes was completed at the high-grade Makoko area. Two rigs are continuing to drill at the Makoko area and one rig has started drilling at the Kiala area on high-grade copper trends emanating from Kamoa North.

In September, Ivanhoe expects to be in a position to provide an important update on its Makoko and Kamoa North exploration programme.

PLATREEF

Meanwhile, at Ivanhoe’s Platreef platinum/palladium/nickel/copper/gold project, in South Africa, sinking of Shaft 1 has reached a depth of 750 m below surface and development of a 750 m level station – the second of four planned shaft stations – is nearing completion.

Shaft 1 is expected to reach the top of the Flatreef orebody, at a depth of about 783 m, in the third quarter.

Sinking of the shaft will continue to a planned final depth of 982 m.

Surface construction for Platreef’s Shaft 2 is progressing. Blasting and excavation of a boxcut to a depth of about 29 m below surface is under way. Construction of a concrete hitch for the headframe is anticipated to be completed by the end of the year.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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