KOLWEZI, DEMOCRATIC REPUBLIC OF CONGO – Ivanhoe Mines (TSX: IVN; OTCQX:IVPAF) Co-Chairs Robert Friedland and Yufeng “Miles” Sun are pleased to announce that Kamoa Copper SA – the operating company of the joint venture between Ivanhoe Mines, Zijin Mining Group, Crystal River and the Government of the Democratic Republic of Congo (DRC) – has begun exporting its copper concentrate internationally. The first truckloads of copper concentrate destined for smelters outside of the DRC departed from the mine site on Saturday, July 17th, marking a significant milestone in the ongoing ramp-up of Kamoa-Kakula’s Phase 1, 3.8 million-tonne-per-annum (Mtpa) concentrator plant.
Kamoa-Kakula’s copper concentrate for export is being transported in bags, with each bag containing approximately two tonnes of concentrate. The bags are independently weighed, sampled and sealed in the presence of representatives from the DRC's Directorate General of Customs and Excise (DGDA), then loaded onto transport trucks. Once loaded, the trucks are weighed, sealed and parked in a dedicated holding area at Kamoa-Kakula awaiting inspection and export clearance from the DGDA. The customs approval process typically takes approximately five days. Once export clearance is received, the trucks may exit the DRC and proceed on their journey to the port of Durban, South Africa.
Kamoa Copper began producing copper concentrate on May 25, 2021, and made its first delivery of bulk concentrates to the nearby Lualaba Copper Smelter, outside of Kolwezi, on June 1, 2021. Since then, deliveries of bulk concentrate from Kamoa-Kakula to the Lualaba Copper Smelter have been occurring on a daily basis. The first truckloads of Kamoa-Kakula’s blister copper ingots, containing approximately 99% copper, are scheduled to be exported from the Lualaba Copper Smelter to international markets this week.
Kamoa Copper received all necessary authorizations from the DRC government to export copper concentrate and blister copper on June 8, 2021. The mine is on track to produce between 80,000 and 95,000 tonnes of contained copper in concentrate in 2021.
In June 2021, Kamoa Copper elected to draw the US$300 million advance payment facility available under the offtake agreements. The Kamoa Holding joint venture had cash and cash equivalents on hand of approximately US$288 million as at June 30, 2021. Going forward, all Phase 1 operating costs and the majority of Phase 2 capital expenditures are expected to be funded from copper sales and facilities in place at Kamoa. Ivanhoe’s proportionate funding of Kamoa-Kakula’s Phase 2 construction capital costs for the remainder of 2021 is expected to be only US$85 million.
Marna Cloete, Ivanhoe Mines’ President and CFO, commented: “As Kamoa-Kakula’s Phase 1 concentrator plant ramps up toward steady-state production, the mine now is producing more concentrate than the nearby Lualaba Copper Smelter can process. As such, Kamoa-Kakula has begun exporting its ultra-high-grade copper concentrates to international smelters, converting the rich copper resources hidden beneath the Kalahari sands into long-lasting and meaningful benefits for all Congolese people.”
Kakula is projected to be the world’s highest-grade major copper mine, with an initial mining rate of 3.8 Mtpa, ramping up to 7.6 Mtpa in Q3 2022. Phase 1 is expected to produce approximately 200,000 tonnes of copper per year, and phases 1 and 2 combined are forecast to produce approximately 400,000 tonnes of copper per year. Based on independent benchmarking, the project’s phased expansion scenario to 19 Mtpa would position Kamoa-Kakula as the world’s second-largest copper mining complex, with peak annual copper production of more than 800,000 tonnes.
A 2020 independent audit of Kamoa-Kakula's greenhouse gas intensity metrics performed by Hatch Ltd. of Mississauga, Canada, confirmed that the project will be among the world's lowest greenhouse gas emitters per unit of copper produced.
The Kamoa-Kakula Copper Project is a joint venture between Ivanhoe Mines (39.6%), Zijin Mining Group (39.6%), Crystal River Global Limited (0.8%) and the Government of the Democratic Republic of Congo (20%).
Members of Kamoa Copper’s operations team celebrate the loading of the first transport truck with bags of ultra-high-grade copper concentrates.
Trucks loaded with bags of copper concentrate at the Kamoa-Kakula mine site awaiting customs clearance.
Leonine Kashala Tshikuta (left) and Jean Nkulu Madua at Kamoa-Kakula’s concentrate bagging plant.
The first bags of Kamoa-Kakula copper concentrate being loaded for export. Each bag contains approximately two tonnes of concentrate.
Dean-Bernard Shilunda, Concentrator Logistics Manager, at the concentrate bagging plant.
Bags of concentrate for export being loaded with the spreader-beam and crane.
Loading bulk copper concentrate for delivery to the nearby Lualaba Copper Smelter to produce blister copper ingots, containing approximately 99% copper.
Disclosures of a scientific or technical nature regarding development scenarios 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 NI 43-101. Mr. Amos is not considered independent under NI 43-101 as he is the Head of the Kamoa Project. Mr.
Amos has verified the technical data disclosed in this news release.
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:
Kamoa-Kakula Integrated Development Plan 2020 dated October 13, 2020, prepared by OreWin Pty Ltd., China Nerin Engineering Co., Ltd., DRA Global, Epoch Resources, Golder Associates Africa, KGHM Cuprum R&D Centre Ltd., Outotec Oyj, Paterson and Cooke, Stantec Consulting International LLC, SRK Consulting Inc., and Wood plc.
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.
About Ivanhoe Mines
Ivanhoe Mines is a Canadian mining company focused on advancing its three principal joint-venture projects in Southern Africa: the development of major new, mechanized, underground mines at the Kamoa-Kakula copper discoveries in the DRC and at the Platreef palladium-rhodium-platinum-nickel-copper-gold discovery in South Africa; and the extensive redevelopment and upgrading of the historic Kipushi zinc-copper- germanium-silver mine, also in the DRC.
Kamoa-Kakula began producing copper in May 2021 and, through phased expansions, is positioned to become one of the world's largest copper producers. Kamoa-Kakula and Kipushi will be powered by clean, renewable hydro-generated electricity and will be among the world’s lowest greenhouse gas emitters per unit of metal produced. Ivanhoe Mines has pledged to achieve net-zero operational greenhouse gas emissions (Scope 1 and 2) at the Kamoa-Kakula Copper Mine when large-scale electric, hydrogen and hybrid underground mining equipment become commercially available. Ivanhoe also is exploring for new copper discoveries on its Western Foreland exploration licences in the DRC, near the Kamoa-Kakula Project.
Investors: Bill Trenaman +1.604.331.9834 / Media: Matthew Keevil +1.604.558.1034
Forward-looking statements to be updated
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 ultra- high-grade, clean concentrate produced by Kamoa-Kakula is expected to contain approximately 57% copper and very low levels of impurities; (ii) statements regarding Ivanhoe’s guidance for contained copper in concentrate expected to be produced by the Kamoa-Kakula Project for the balance of 2021 of 80,000 to 95,000 tonnes; (iii) statements regarding Kakula is projected to be the world’s highest-grade
major copper mine, with an initial mining rate of 3.8 Mtpa, ramping up to 7.6 Mtpa in Q3 2022; (iv) statements regarding Kamoa-Kakula’s Phase 1 is expected to produce approximately 200,000 tonnes of copper per year, and phases 1 and 2 combined are forecast to produce approximately 400,000 tonnes of copper per year; (v) statements regarding that, based on independent benchmarking, the project’s phased expansion scenario to 19 Mtpa would position Kamoa-Kakula as the world’s second- largest copper mining complex, with peak annual copper production of more than 800,000 tonnes; (vi) statements regarding that based on a 2020 independent audit of Kamoa-Kakula's greenhouse gas intensity metrics performed by Hatch Ltd., the Kamoa-Kakula Project will be among the world's lowest greenhouse gas emitters per unit of copper produced; (vii) statements regarding Kamoa-Kakula and Kipushi will be powered by clean, renewable hydro-generated electricity and will be among the world’s lowest greenhouse gas emitters per unit of metal produced; (viii) statements regarding the first truckloads of Kamoa-Kakula’s blister copper ingots are expected to be exported from the Lualaba Copper Smelter this week; and (ix) statements regarding going forward, all Phase 1 operating costs and the majority of Phase 2 capital expenditures are expected to be funded from copper sales and facilities in place at Kamoa. Ivanhoe’s proportionate funding of Kamoa-Kakula’s Phase 2 construction capital costs for the remainder of 2021 is expected to be only US$85 million.
As well, all of the results of the Kakula definitive feasibility study, the Kakula-Kansoko pre-feasibility study and the Kamoa-Kakula 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; (xvi) changes in project scope or design; and (xvii) 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 2021 Q1 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) 欣然宣布，卡莫阿铜业已开始向国际出口铜精矿及粗铜。卡莫阿铜业是一家由艾芬豪矿业、紫金矿业集团、晶河全球及刚果民主共和国政府组建的合营企业。装载第一批铜精矿的车队已于7 月17日 (星期六) 从矿场出发，将产品发往刚果(金)境外的冶炼厂，标志着卡莫阿-卡库拉I期年处理矿石380 万吨选厂实现产能爬坡的重大里程碑。
卡莫阿-卡库拉的铜精矿以袋装运输出口，每袋约含两吨精矿。在刚果(金)海关总署 (以下简称 “DGDA”) 的人员见证下，每袋精矿经过独立称重、采样和密封后进行装车。其后卡车会被称重和密封，并停泊在卡莫阿-卡库拉的专用停候区，等待 DGDA 进行检查和清关。海关一般在五天左右完成审批流程。完成出口清关后，卡车即可离开刚果(金)并出发前往南非德班港。
卡莫阿铜业于2021年5月25日正式启动铜精矿生产，并于2021年6月1日向邻近的、位于科卢韦齐近郊的卢阿拉巴铜冶炼厂交付第一批散装精矿后，继续开展日常交付。装载第一批卡莫阿-卡库拉粗铜 (含铜约99%) 的卡车车队按计划将于本周从卢阿拉巴铜冶炼厂出发，将粗铜产品发往国际市场。
2021 年 6 月，卡莫阿铜业根据包销协议提取了 3 亿美元预付款。截至 2021 年 6 月 30 日，卡莫阿控股合资企业持有的现金和现金等价物约 2.88 亿美元。展望未来，项目I期的所有运营支出和 II期大部分的资本支出将会从铜销售和卡莫阿现有的信贷出资。在2021年剩余时间内，艾芬豪应为卡莫阿-卡库拉II期建设资本支出所提供的资金份额估计仅为 8,500 万美元。
艾芬豪矿业总裁兼首席财务官玛娜·科洛特 (Marna Cloete) 表示﹕“ 随着卡莫阿-卡库拉I期选厂逐步迈向稳产，精矿产量已超过邻近的卢阿拉巴铜冶炼厂的处理能力。因此，卡莫阿-卡库拉已开始向国际冶炼厂出口其超高品位的铜精矿，将喀拉哈里地下埋藏的富铜资源转化为刚果人民的长期福祉。”
预计卡库拉 (Kakula) 将成为全球品位最高的大型铜矿山，初期年开采矿石380万吨，其后于2022年第三季度提升产能至760万吨/年。I 期投产后预计每年将生产约20万吨铜，而I 期和 II 期投产后每年将累计生产高达40万吨铜。根据独立研究机构排名，一旦项目扩大产能至年处理1,900万吨矿石，卡莫阿-卡库拉将成为全球第二大铜矿山，最高年产80多万吨铜。2020年，加拿大Hatch有限公司对卡莫阿-卡库拉的温室气体强度指标进行了独立审核，确认项目将会成为全球单位铜温室气体排放最低的矿山之一。
卡莫阿-卡库拉铜矿项目是艾芬豪矿业 (占股39.6%)、紫金矿业集团 (占股39.6%)、晶河全球 (占股0.8%) 及刚果民主共和国政府 (占股20 %) 的合资项目。
Leonine Kashala Tshikuta (左) 和 Jean Nkulu Madua在卡莫阿-卡库拉的精矿装袋车间。
选厂物流经理 Dean-Bernard Shilunda 在精矿装袋车间。
本新闻稿中关于卡莫阿-卡库拉项目开发方案的科学或技术性披露已经由史蒂夫·阿莫斯 (Steve Amos) 审查和批准，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。由于阿莫斯先生是卡莫阿项目的负责人，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。
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10月13日发布的2020年卡莫阿-卡库拉综合开发方案，由OreWin Pty Ltd.、中国瑞林工程技术有限公司、DRA Global、Epoch Resources、Golder Associates Africa、KGHM Cuprum R&D Centre Ltd.、Outotec Oyj、Paterson and Cooke、Stantec Consulting International LLC、SRK Consulting Inc.以及Wood plc编制。
艾芬豪矿业是一家加拿大的矿业公司，正在推进旗下位于南部非洲的三大合资项目：位于刚果 (金) 的卡莫阿-卡库拉铜矿和位于南非的普拉特瑞夫 (Platreef) 钯-铑-铂-镍-铜-金矿的大型机械化地下矿山开发工程；以及同样位于刚果(金)、久富盛名的基普什 (Kipushi) 锌-铜-锗-银矿的大型重建和改善工程。
卡莫阿-卡库拉铜矿项目于2021年5月实现铜生产，未来将分阶段进行扩建，预计将会成为全球最大规模的铜生产商之一。卡莫阿-卡库拉和基普什将使用清洁、可再生的水电，并将成为世界上每单位金属温室气体排放量最低的矿山之一。艾芬豪矿业已作出承诺，卡莫阿-卡库拉铜矿将会在电、氢和混合技术的大型地下采矿设备可供商业使用时尽快引入采矿作业，致力实现净零运营温室气体排放 (范围一和二)。同时，艾芬豪正在刚果(金)境内、毗邻卡莫阿-卡库拉项目的西部前沿 (Western Foreland) 探矿权内寻找新的铜矿资源。
投资者﹕比尔·特伦曼 (Bill Trenaman)，电话﹕+1.604.331.9834 /
媒体﹕马修·基维尔 (Matthew Keevil)，电话﹕ +1.604.558.1034
本新闻稿载有的某些陈述可能构成适用证券法所订议的"前瞻性陈述"或"前瞻性信息"。这些陈述及信息涉及已知和未知的风险、不明朗因素和其它因素，可能导致本公司的实际业绩、表现或成就、项目或行业业绩与前瞻性陈述或信息所表达或暗示的任何未来业绩、表现或成就产生重大差异。这些陈述可通过文中使用"可能"、"将会"、"会"、"将要"、"打算"、"预期"、"相信"、"计划"、"预计"、"估计"、 "安排" 、"预测"、"预言"及其他类似用语，或者声明"可能"、"会"、"将会"、"可能会"或"将要"采取、发生或实现某些行动、事件或结果进行识别。这些陈述仅反映本公司于本新闻稿发布当日对于未来事件、表现和业绩的当前预期。
该等陈述包括但不限于下列事项的时间点和结果﹕(i) 关于预计卡莫阿-卡库拉将生产极高品位的清洁铜精矿，铜品位高达57%，有害元素含量极低的陈述；(ii) 关于艾芬豪的生产指导目标，预计卡莫阿-卡库拉项目在2021年剩余时间生产精矿的含铜金属量为80,000至95,000吨的陈述；(iii) 关于预计卡库拉将成为全球品位最高的大型铜矿山，初始年开采矿石380万吨，其后于2022年第三季度提升产能至760万吨/年的陈述；(iv) 关于卡莫阿-卡库拉I 期投产后预计每年将生产约20万吨铜，而I 期和II 期投产后每年将累计生产高达40万吨铜的陈述；(v) 关于根据独立研究机构排名，一旦项目扩大产能至处理矿石1,900万吨/年，卡莫阿-卡库拉将成为全球第二大铜矿山，最高年产80多万吨铜的陈述；(vi) 关于2020年，加拿大Hatch有限公司对卡莫阿-卡库拉的温室气体强度指标进行了独立审核，确认项目将会成为全球单位铜温室气体排放最低的矿山之一的陈述； (vii) 关于卡莫阿-卡库拉和基普什将由清洁、可再生的水力发电提供能源，并将成为全球每单位铜温室气体排放最低的矿山之一的陈述；(viii) 关于装载第一批卡莫阿-卡库拉粗铜的卡车车队将于本周从卢阿拉巴铜冶炼厂出口的陈述；以及(ix) 关于展望未来，项目I期的所有运营成本和II期大部分的资本支出将会从铜销售和卡莫阿现有的信贷出资。在2021年剩余时间内，艾芬豪应为卡莫阿-卡库拉II期建设资本成本所提供的资金份额估计仅为 8,500 万美元的陈述。
此外，卡库拉最终可行性研究、卡库拉-卡索科预可行性研究和卡莫阿-卡库拉初步经济评估的所有结果均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、建议开采计划和方法、矿山服务年限、现金流量预测、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) 矿化的选冶特征；(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) 合资企业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) 项目范围或设计变更；以及(xv) 政治因素。