TSX-listed Ivanhoe Mines and its partners in the Democratic Republic of Congo (DRC) − Zijin Mining Group, Crystal River Global and the country’s government − have welcomed the positive findings of an independent definitive feasibility study (DFS) on the Kakula copper mine project.
This study, together with an updated prefeasibility study (PFS) that includes ore mined from the nearby Kansoko copper mine in addition to ore mined from Kakula, will inform an expanded preliminary economic assessment (PEA) for the development of the copper discoveries made to date at the Kamoa-Kakula project in the Central African Copperbelt of the DRC.
The studies and assessment are collectively referred to as the Kamoa-Kakula Integrated Development Plan (IDP) 2020.
The company is discussing this plan to consider various expansion options of the project with stakeholders on September 10.
Ivanhoe explains that the DFS evaluates the six-million-tonne-a-year Kakula mine, which is already under construction, but which can be expanded further.
The PFS evaluates mining 1.6-million tonnes a year from the Kansoko mine, in addition to the six-million tonnes a year from Kakula, to fill a 7.6-million-tonne-a-year processing plant at Kakula.
The PEA evaluates an integrated, multi-staged development to achieve a 19-million-tonne-a-year production rate.
The phased expansion scenario to 19-million tonnes a year would position Kamoa-Kakula as the world’s second-largest copper mining complex, with peak yearly copper output of more than 800 000 t.
The estimated remaining initial capital cost for all three development scenarios is between $600-million and $700-million, of which Ivanhoe’s share is about 50%.