News Release

Following the appointment of the new Government of the Democratic Republic of Congo (DRC) and increased collaboration and exchange with the Chamber of Mines of the Federation of Enterprises of Congo (FEC),  MMG Kinsevere (“MMG”), Kipushi Corporation (“Kipushi”), a joint venture between Ivanhoe Mines and La Générale des Carrières et des Mines, and Kamoa Copper (“Kamoa”), a joint venture between Ivanhoe Mines, Zijin Mining, Crystal River and the DRC Government, announce their decision to re-join as members of the FEC Chamber of Mines.

As members of FEC, MMG, Kamoa and Kipushi intend to actively contribute to the constructive discussions regarding the sustainable development of DRC’s mining sector in consultation with the Government and the rest of the country’s mining industry. Additionally, MMG, Kamoa and Kipushi, aim to contribute to the successful development of mining activities in the DRC Copperbelt with the aim of creating value for the Government, the people of the DRC, their employees and their shareholders.

MMG Kinsevere operates the Kinsevere mine located 30 km north-east of Lubumbashi. The mine has a nameplate capacity of 60,000 tons/year of grade A copper cathode. Kinsevere employs a workforce of nearly 800 people, most of whom are local to the DRC.

Kamoa-Kakula is a development copper project, currently under construction, located 25km west of Kolwezi. First production is anticipated in 2021, with a target steady-state phase one capacity of 600,000 tonnes/year of high-grade copper concentrate. Kamoa is employing a workforce of nearly 3,300, most of whom are local to the DRC.

Kipushi is a redevelopment zinc-copper project, currently underway, located in Kipushi. Target life-of-mine average capacity of 381,000 tonnes/year of high-grade zinc concentrate. Kipushi is employing a workforce of nearly 720, most of whom are local to the DRC.

FOR MORE INFORMATION PLEASE CONTACT :

Charles KYONA
Gérant– MMG Kinsevere
7409, Avenue de la Révolution
Lubumbashi Katanga Congo (DRC)
charles.kyona@mmg.com

Freddy Elonga
Secrétaire Général Adjoint – MMG Kinsevere
63, Avenue Mondjiba, concession Cotex, Local 10A
Kinshasa/Ngaliema
freddy.elonga@mmg.com

Louis Watum
President of Kamoa and Kipushi
1148-6 Avenue de la Liberation
Lubumbashi Katanga Congo (DRC)
louisw@ivanhoe.net

Bill Trenaman
Vice President Investor Relations
654-999 Canada Pl
Vancouver, Canada
billtr@ivancorp.net

FEC- Chamber of mines membership (FRENCH)