KOLWEZI, DEMOCRATIC REPUBLIC OF CONGO – Robert Friedland and Yufeng “Miles” Sun, Co-Chairmen of Ivanhoe Mines (TSX: IVN; OTCQX: IVPAF), announced today thatexcellent progress is being made advancing underground mine development at the Kakula Mine in the Democratic Republic of Congo (DRC), with current mining grades of up to 11% copper in one of the access drives being advanced from the northern decline.
Kakula’s northern and southern dual access drives are expected to be connected (the mining term is “holing”) next month, allowing highly-productive mining (stoping) operations to begin in high-grade zones. Approximately 260 metres of tunneling remains until the access drives are connected (see figures 1 and 2).
“Development of the dual access drives from Kakula’s northern decline has entered a zone of chalcocite-rich ore grading up to 11% copper over a height of 6.6 metres,” said Mr. Friedland. “These copper grades are extraordinary in a global context, but are not unexpected. They are real-time confirmation of the exceptional quality of the Kakula resource, which sits at the apex of any ranking worldwide.”
In addition, access drift 1 from Kakula’s southern decline has moved from the medium-grade ore zone (+5 copper) into the high-grade ore zone, and currently is traversing the +8% copper zone as it approaches the “holing” position in the centre of the deposit. Access drift 2 from Kakula’s southern decline currently is traversing the +5% copper zone and is expected to quickly enter the +8% copper zone (see figures 1 and 2).
“We are looking forward to achieving our first “holing” between the northern and southern declines,” said Mr. Friedland. “It will open up important high-grade copper reserves, and enable ventilation to flow through dedicated underground airways, which have been developed between Kakula’s northern and southern declines. This marriage between Kakula’s northern and southern declines will facilitate the ramp up in production and dramatically increase the efficiency of our underground logistics, and further improve safety.”
Figure 1: Underground development completed to October 18, 2020 (in black) and scheduled development (green, brown, purple) to November 30, 2020. Also shown are the +3%, +5% and +8% copper contours and the location where the northern and southern access drives are scheduled to join in November (red circle).
Figure 2: Kakula’s underground development completed to October 18, 2020 (in red). The black star shows where the northern and southern access drives are scheduled to join in November.
A Niton (portable XRF) reading on the tip of a chalcocite-rich piece of ore grading 67.8% copper from Kakula’s northern access drive spiral. Grey-colored chalcocite has the greatest percentage of copper of all the common sulphide-copper-bearing minerals ─ almost 80% copper by weight.
Mine geologist Micheline Kyenge examines the chalcocite-rich face in Kakula’s northern access drive spiral. The prevalence of the grey-coloured chalcocite accounts for the ultra-high-copper grades recently encountered.
Excellent construction progress being made on Kakula’s concentrator plant; first production now expected in July 2021, at the beginning of Q3 2021 guidance
Steve Amos, Kamoa Copper’s Head of Projects, stated: “The updated project schedule for the initial 3.8 million-tonne-per-annum (Mtpa) concentrator plant indicates that first ore now is expected at the beginning of our Q3 2021 planned window. There has been an enormous effort by the project and construction teams to not only maintain the milestone dates with the challenges presented by the pandemic, but to place ourselves in a position to commission early. We are delighted with the progress made to date.”
“It will be enormously beneficial if we can commission early,” said Rochelle De Villiers, Kamoa Copper’s Co-CFO. “We look forward to generating revenue as early as possible, which will allow us to advance the project’s Phase 2 development with internal cash flow. The long-lead items for the second 3.8 Mtpa concentrator plant have been ordered and the second phase of our development now is officially underway.”
Mark Farren, CEO of Kamoa Copper said: “We will leverage what we have learned thus far into Phase 2 construction, and expand the project at a sustainable rate that minimizes peak funding. Phases 1 and 2 combined are expected to produce approximately 400,000 tonnes of copper per year.”
“Our engineers are already planning the steps necessary to implement phases 3, 4 and 5, which would expand the project’s production rate to at least 19 million tonnes of ore a year.”
“We currently have more than 6,000 people on site, most of whom are employed by sub-contractors for the construction of the mining infrastructure and concentrator. This will transition gradually as we move into production. We expect to employ close to 2,000 permanent Kamoa Copper employees once both concentrator plants are operating and the first two mines are producing at a steady state of 7.6 million tonnes of ore a year.”
“We have a talented, young Congolese workforce who are eager to learn and grow as we develop this mine into a world-class operation. The once-in-a-century metamorphosis from a giant, greenfields discovery into a successful world-leading mining operation is inherently challenging; however, our people have the special blend of experience and commitment to do it successfully,” Mr. Farren added.
The two, 7-megawatt ball mills at Kakula’s initial 3.8 Mtpa processing plant, with the girth gears now installed. A 3D illustration of the finished ball mills (shown in green) is below, with the next two ball mills for the recently-initiated second processing plant shown in magenta.
Ongoing construction of Kakula’s initial 3.8 Mtpa processing plant, showing the assembled ball mills and the first four flotation tanks.
Kapenda Mutombo pours concrete at Kakula’s copper concentrate storage area.
Deli Mamadou installing Kakula’s tailings pipeline. Approximately one half of the mine's tailings will be sent back underground to fill mined-out voids, significantly reducing the surface tailings storage.
Yannick Kankenke (left) and Tresor Mukadi (right) servicing an Epiroc double boom drill rig at the Kakula workshop.
Kamoa-Kakula expected to be connected to the national power grid in December, providing the project with clean, renewable 220-kV hydropower
Ben Munanga, General Manager of Ivanhoe Mines Energy and a senior member of the executive management team at Kamoa Copper, stated: “We have made excellent progress upgrading the Mwadingusha hydroelectric power station and at the new Western Dispatch substation in Kolwezi. In December, we expect to tie in the 30-kilometre, 220-kilovolt (kV) power line connecting this substation to Kamoa-Kakula, and supply the mine with reliable and clean hydro-generated electricity from the national grid.”
The upgrading work at the 72-megawatt Mwadingusha hydropower plant is nearing completion and electricity from all of Mwadingusha’s six turbines is expected to be integrated into the national power grid in the first quarter of 2021. The work is being conducted by engineering firm Stucky, of Lausanne, Switzerland, under the direction of Ivanhoe Mines and its joint-venture partner, Zijin Mining Group, in conjunction with the DRC’s state-owned power company, La Société Nationale d’Electricité (SNEL).
“A long-term, sustainable supply of electricity is essential to Ivanhoe’s vision to develop Kamoa-Kakula in an environmentally and socially responsible manner,” said Mr. Friedland. “Hydropower is the cleanest energy solution for Kamoa-Kakula and will ensure the project will be among the world’s lowest greenhouse gas emitters per unit of copper produced.”
Mr. Friedland also said that a recent, independent audit of Kamoa-Kakula’s greenhouse gas intensity metrics performed by Hatch Ltd., of Mississauga, Canada, a leading, international environmental consulting firm, confirmed that Kamoa-Kakula will be among the world’s lowest greenhouse gas emitters per unit of copper produced, validating the project’s commitment to be a leader in environmentally-responsible copper mining. In addition, approximately one half of the mine’s tailings will be mixed with cement and pumped back underground to fill mined-out voids, resulting in a surface tailings containment facility that is tiny compared to other major mines.
Tresor Kalenga Musoya (top), Liang Yang (middle) and Chanzhong Yang (bottom) installing the 220-kV power line that will transport clean, renewable hydropower from the DRC national grid to the Kamoa-Kakula Project.
Contract workers from Andritz Hydro of Vevey, Switzerland, upgrading the penstocks and emergency intake valves at theMwadingusha hydropower plant.
Kamoa-Kakula’s October monthly mine progress update to be issued in early November
Ivanhoe plans to issue its regular Kamoa-Kakula monthly mine progress update for the month of October in early November, which will provide details on the project’s underground development advancement, tonnage and grade of the project’s pre-production ore stockpiles, and construction progress of the initial 3.8 Mtpa concentrator plant and associated infrastructure.
Disclosures of a scientific or technical nature regarding development at the Kamoa-Kakula Project in this news release have been reviewed and approved by Steve Amos, who is considered, by virtue of his education, experience and professional association, a Qualified Person under the terms of National Instrument 43-101 (NI 43-101). Mr. Amos is not considered independent under NI 43-101 as he is Kamoa Copper’s Head of Projects.. Mr. Amos has verified the technical data disclosed in this news release.
Other disclosures of a scientific or technical nature in this news release have been reviewed and approved by Stephen Torr, who is considered, by virtue of his education, experience and professional association, a Qualified Person under the terms of NI 43-101. Mr. Torr is not considered independent under NI 43-101 as he is the Vice President, Project Geology and Evaluation of Ivanhoe Mines. Mr. Torr has verified the other technical data disclosed in this news release.
The development grade estimates contained in this release are based upon channel sampling from underground headings. Sampling is done on one-metre increments across a full vertical profile approximately every 15 metres, with six to seven 150-gram samples taken. The samples are pulverized at the project’s onsite laboratory and analyzed used using a portable XRF (pXRF) instrument. Kamoa Copper has routinely analyzed its exploration drill core for copper using pXRF, in addition to analysis at a commercial laboratory using four acid digest and ICP-OES. This data has demonstrated that pXRF results can be relied upon for grade control and run-of-mine sampling.
Ivanhoe has prepared an independent, NI 43-101-compliant technical report for the Kamoa-Kakula Project, which is available on the company’s website and under the company’s SEDAR profile at www.sedar.com:
- The Kamoa-Kakula 2020 Resource Update dated March 25, 2020, prepared by OreWin Pty Ltd., Wood plc, DRA Global, SRK Consulting (South Africa) (Pty) Ltd and Stantec Consulting International LLC.
The technical report includes relevant information regarding the assumptions, parameters and methods of the mineral resource estimates on the Kamoa-Kakula Project cited in this news release, as well as information regarding data verification, exploration procedures and other matters relevant to the scientific and technical disclosure contained in this news release.
As announced in Ivanhoe Mines’ September 8, 2020, news release, an updated independent, NI 43-101-compliant technical report for the Kamoa-Kakula Project is being prepared and will be issued later this month.
Investors: Bill Trenaman +1.604.331.9834 / Media: Matthew Keevil +1.604.558.1034
Certain statements in this release constitute “forward-looking statements” or “forward-looking information” within the meaning of applicable securities laws. Such statements and information involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company, its projects, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as “may”, “would”, “could”, “will”, “intend”, “expect”, “believe”, “plan”, “anticipate”, “estimate”, “scheduled”, “forecast”, “predict” and other similar terminology, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. These statements reflect the company’s current expectations regarding future events, performance and results and speak only as of the date of this release.
Such statements include without limitation, the timing and results of: (i) statements regarding the northern and southern access drives at Kakula are expected to be joined in November 2020; (ii) statements regarding first production at the Kakula Mine is scheduled for July 2021; (iii) statements regarding the Kakula Mine will be powered by clean, renewable hydroelectricity and be among the world's lowest greenhouse gas emitters per unit of copper produced; (iv) statements regarding Kakula will have a relatively tiny surface footprint as approximately one half of the mine’s tailings will be pumped back into underground workings; (v) statements regarding the Kakula Mine is scheduled to be connected to the national grid with 220 kV hydro-generated power in December 2020; and (vi) statements regarding the implementation of Kamoa-Kakula phases 3, 4 and 5, would expand the project’s production rate to at least 19 million tonnes of ore a year; and (vii) statements regarding the Kamoa-Kakula monthly mine progress update is expected in early November
As well, all of the results of the pre-feasibility study for the Kakula copper mine and the updated and expanded Kamoa-Kakula Project preliminary economic assessment constitute forward-looking statements or information, and include future estimates of internal rates of return, net present value, future production, estimates of cash cost, proposed mining plans and methods, mine life estimates, cash flow forecasts, metal recoveries, estimates of capital and operating costs and the size and timing of phased development of the projects. Furthermore, with respect to this specific forward-looking information concerning the development of the Kamoa-Kakula Project, the company has based its assumptions and analysis on certain factors that are inherently uncertain. Uncertainties include: (i) the adequacy of infrastructure; (ii) geological characteristics; (iii) metallurgical characteristics of the mineralization; (iv) the ability to develop adequate processing capacity; (v) the price of copper; (vi) the availability of equipment and facilities necessary to complete development; (vii) the cost of consumables and mining and processing equipment; (viii) unforeseen technological and engineering problems; (ix) accidents or acts of sabotage or terrorism; (x) currency fluctuations; (xi) changes in regulations; (xii) the compliance by joint venture partners with terms of agreements; (xiii) the availability and productivity of skilled labour; (xiv) the regulation of the mining industry by various governmental agencies; (xv) the ability to raise sufficient capital to develop such projects; (xiv) changes in project scope or design; and (xv) political factors.
Forward-looking statements and information involve significant risks and uncertainties, should not be read as guarantees of future performance or results and will not necessarily be accurate indicators of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements or information, including, but not limited to, the factors discussed below and under “Risk Factors”, and elsewhere in this release, as well as unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of parties to contracts with the company to perform as agreed; social or labour unrest; changes in commodity prices; and the failure of exploration programs or studies to deliver anticipated results or results that would justify and support continued exploration, studies, development or operations.
Although the forward-looking statements contained in this release are based upon what management of the company believes are reasonable assumptions, the company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this release.
The company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of the factors set forth below in the “Risk Factors” section in the company’s Q2 2020 MD&A and its current annual information form.
刚果民主共和国科卢韦齐 — 艾芬豪矿业 (TSX: IVN; OTCQX:IVPAF) 联席董事长罗伯特·弗里兰德 (Robert Friedland) 与孙玉峰 (Miles Sun) 今天宣布，其位于刚果民主共和国 (以下简称“刚果”)卡库拉矿山的地下开发持续快速推进，其中一条从北面斜坡道掘进的运输通道，目前已到达铜品位高达11%的区域。
卡库拉南北两条运输通道的连接 (矿业术语称为“贯通”) 预计将于下个月完成，将可在高品位的矿段展开采掘作业。目前，距离两条运输通道贯通大约还剩余260米(见图1和2)。
卡莫阿铜业项目负责人史蒂夫·阿莫斯 (Steve Amos) 表示﹕“年处理矿量380万吨初始选矿厂的项目时间表提前，首批矿石生产将于2021年第三季度初实现。项目和施工团队付出了巨大的努力，克服了疫情期间带来的种种挑战，如期实现项目的各个里程碑，现已作好提前实现投产的准备。我们十分高兴，项目迄今为止取得的理想进展。”
卡莫阿铜业联席首席财务官罗谢尔·德维利耶 (Rochelle De Villiers) 说：“提前投产将为项目带来巨大的收益。我们希望可以尽快产生收入，使我们能够利用内部现金流推进项目第二序列的开发。目前，我们已为第二座380万吨/年选矿厂的长周期设备下订单，并已正式开始第二序列的开发工作。”
卡莫阿铜业首席执行官马克·法伦 (Mark Farren) 说﹕“我们将汲取过往的经验并将其运用在第二序列的建设上，以可持续增长的速度进行项目扩产，同时尽量减少最大投资额。预计第一和第二序列总共每年将会生产40万吨的铜金属。”
艾芬豪矿业能源总经理本·穆南加(Ben Munanga) 与卡莫阿铜业高管团队的一名资深成员表示：“我们在Mwadingusha水电厂和位于科卢韦齐新的西部调度(Western Dispatch) 变电站的改善工程进展十分理想。西部调度变电站连接的一条30公里长的220千伏电力线，预计将于12月与卡莫阿-卡库拉通电，从国家电网向矿山提供可靠和清洁的水电能源。
Mwadingusha 72兆瓦水电厂的改善工程即将完成，Mwadingusha全部6台涡轮机预计于2021年第一季度将会向国家电网提供电力供给。工程由瑞士雷恩斯的Stucky工程公司在艾芬豪矿业及其合资伙伴紫金矿业集团的指导下，与刚果国有电力公司 La Société Nationale d’Electricité (以下简称 “SNEL”) 合作施工。
本新闻稿中关于卡莫阿-卡库拉项目的科学或技术性披露已经由史蒂夫·阿莫斯审查和批准，他凭借其教育、经验和专业协会会籍被认为是NI 43-101 标准下的合资格人士。由于阿莫斯先生是卡莫阿铜业的项目负责人，因此他并不符合NI 43-101 对独立人士的界定。阿莫斯先生已核实本新闻稿所披露的技术数据。
本新闻稿中的其它科学或技术性披露已经由 Stephen Torr 审查和批准，他凭借其教育、经验和专业协会会籍被认为是 NI 43-101 条款下的合资格人士。由于 Torr 先生是艾芬豪矿业项目地质和评估副总裁，因此他并不符合NI 43-101 对独立人士的界定。 Torr 先生已核实本新闻稿所披露的其它技术数据。
本新闻稿所载的开发品位估算值是基于从地下巷道的刻槽取样，大约每15米在整个垂直剖面上按1米增量进行采样，并收集6至7个150克重的样品。样品在项目现场实验室粉碎后，使用便携式XRF (pXRF) 仪器进行分析。除了在商业实验室利用4种酸分解液和ICP-OES进行分析之外，卡莫阿铜业也经常使用pXRF分析其钻孔岩芯中的铜含量。该数据表明，pXRF结果可用于品位控制和采矿井取样。
艾芬豪已经为卡莫阿-卡库拉项目编制了一份符合NI 43-101 标准的独立技术报告，该报告可在艾芬豪网站以及SEDAR 网站上的艾芬豪页面获得，网址为www.sedar.com：
- 2020年3月25日发布的2020年卡莫阿-卡库拉资源更新，由OreWin Pty Ltd.、Wood plc、DRA Global、SRK Consulting (South Africa) (Pty) Ltd 和Stantec Consulting International LLC编制。
投资者﹕Bill Trenaman +1.604.331.9834 / 媒体﹕Matthew Keevil +1.604.558.1034
该等陈述包括但不限于下列事项的时间点和结果﹕(i) 关于卡库拉南北两条运输通道预计于2020年11月连接完成的陈述；(ii) 关于卡库拉矿山计划于2021年7月实现首产的陈述；(iii) 关于卡库拉矿山将会使用清洁、可再生的水电，并将成为全球每单位铜温室气体排放量最低的矿山之一的陈述；(iv) 关于卡库拉矿山约一半的尾矿将被泵送回地下，地表足迹因此相对较小的陈述；(v) 关于卡库拉矿山计划于2020年12月连接国家电网220千伏水电的陈述；(vi) 关于卡莫阿-卡库拉实现第三、第四和第五序列，将会提升项目的生产率至每年1,900万吨矿石以上的陈述；以及 (vii) 关于卡莫阿-卡库拉的最新月度采掘进度预计于11月初公布的陈述。
此外，卡库拉铜矿预可行性研究的所有结果以及更新和扩展的卡莫阿-卡库拉项目初步经济评估，构成了前瞻性陈述或信息，并包括内部收益率的未来估算、净现值，未来产量、现金成本估算、建议采矿方案和方法、矿山寿命估计、现金流预测、金属回收率、资本和运营成本估算，以及项目分期开发的规模和时间点。另外，对于与卡莫阿-卡库拉项目开发有关的特定前瞻性信息，公司是基于某些不确定因素而作出假设和分析。不确定因素包括：(i) 基础设施的充足性；(ii) 地质特征；(iii) 矿化的冶金特征；(iv) 发展充足选矿产能的能力；(v) 铜价格；(vi) 完成开发所需的设备和设施的可用性；(vii) 消耗品和采矿及选矿设备的费用；(viii) 不可预见的技术和工程问题；(ix) 事故或破坏或恐怖主义行为；(x) 货币波动； (xi) 法例修订；(xii) 合资伙伴对协议条款的遵守情况；(xiii) 熟练劳工的人手和生产率；(xiv) 各政府机构对矿业的监管；(xv) 筹集足够资金以发展该等项目的能力；(xiv) 项目范围或设计更变；以及 (xv) 政治因素。