The management team of Canada-headquartered Ivanhoe Mines met with high-ranking Democratic Republic of Congo (DRC) government officials in Kinshasa on Monday and has described its meeting as “highly productive”.
The team met with Prime Minister Sylvestre Ilunga Ilukamba, Mines Minister Willy Kitobo Samsoni, and Minister of Portfolio Clément Kuete Nymi Bemuna.
The three Ministers were formally appointed in August in a new coalition government led by President Felix Tshisekedi.
“The DRC government is both our regulator and a key shareholder, held through the Minister of Portfolio, in the Kamoa-Kakula copper project," said Ivanhoe president Tony Giardini, who led the Ivanhoe delegation.
Tshisekedi’s predecessor, Joseph Kabila, signed into law the 2018 mining code, which is unpopular among major miners operating in the DRC.
The Ivanhoe team also provided the three Ministers with an update on the progress at Kamoa-Kakula, which at peak production of more than 700 000 t/y of copper will be the world's second-largest copper mine.
"The discussions with respect to Kamoa-Kakula were extremely productive and both parties are working hard to ensure that the project starts producing copper as scheduled in the third quarter of 2021,” Giardini noted.
He added that all levels of government had been "helpful in ensuring that construction at the project moves ahead rapidly while maintaining high performance standards in health, safety, environment and community development".
Kamoa-Kakula is a joint venture (JV) between Ivanhoe Mines (39.6%), Zijin Mining Group (39.6%), Crystal River Global (0.8%) and the DRC government (20%).
Ivanhoe also owns 68% of the Kipushi project in a JV with State-owned Gécamines. The Ivanhoe management team also had separate discussions with Albert Yuma, chairperson of Gécamines.
Ivanhoe and Gécamines are working together to restart production at the high-grade Kipushi zinc/copper/germanium/silver mine.