KIPUSHI, DEMOCRATIC REPUBLIC CONGO – Ivanhoe Mines (TSX: IVN; OTCQX: IVPAF) President Marna Cloete is pleased to announce that Kipushi Corporation SA (KICO), a joint venture between Ivanhoe and DRC state-owned mining company Gécamines, recently hosted a breaking-ground ceremony to commemorate the start of construction of the processing plant at the historic Kipushi zinc-copper-germanium-silver mine. In addition, Ivanhoe signed a memorandum of understanding (MOU) with the provincial government of Haut-Katanga to study options for upgrading the DRC-Zambia border crossing in the town of Kipushi for commercial imports and exports.
The ground-breaking ceremony was attended by His Excellency Jean-Michel Sama Lukonde, Prime Minister of the Democratic Republic of the Congo, Her Excellency Adèle Kayinda Mahina, Minister of State and Minister of Portfolio, Her Excellency Antoinette N’Samba Kalambayi, Minister of Mines, members of the provincial government of the Haut-Katanga Province and other national, provincial and local dignitaries, in addition to representatives from Ivanhoe, Gécamines and the town of Kipushi.
Watch a short video of the breaking-ground ceremony:
The delegation was presented with the development plan for returning the Kipushi mine to production by late 2024 – one hundred years since it was first opened and 30 years since it was placed on care and maintenance.
The ceremony follows the outstanding results of the Kipushi 2022 Feasibility Study, announced in February 2022, as well as the agreement signed between Ivanhoe Mines and Gécamines to bring the Kipushi mine back into production.
Jean-Michel Sama Lukonde, Prime Minister of the Democratic Republic of the Congo (right) and the government delegation were welcomed by Marna Cloete, President of Ivanhoe Mines (centre), and Louis Watum, General Manager of KICO (left).
The Kipushi 2022 Feasibility Study evaluates the development of an 800,000-tonne-per-annum concentrator and underground mine, producing on average of 240,000 tonnes per annum of zinc contained in concentrate over a 14-year life of mine. The successful commencement of commercial production would establish Kipushi as the world’s highest-grade major zinc mine, with an average head grade of 36.4% zinc over the first five years of production.
Existing, rehabilitated surface and underground infrastructure allow for significantly lower capital costs than comparable development projects. The estimated pre-production capital cost, including contingency, is $382 million. This infrastructure also allows for a relatively short construction timeline of two years, with the principal development activities being the construction of a conventional concentrator facility and supporting infrastructure, together with the restart of mining activities underground.
At a zinc price of $1.40 per pound, the after-tax net present value (NPV) at an 8% real discount rate is $1.4 billion, with an after-tax real internal rate of return (IRR) of 54%. The current spot zinc price is $1.46 per pound.
Life-of-mine average C1 cash costs of $0.65 per pound of zinc are expected to rank Kipushi, once in production, in the second quartile of the cash cost curve for zinc producers globally.
Ordering of long-lead equipment is underway and early construction activities have commenced. Financing and offtake discussions, including a pre-payment facility of $250 million, are well advanced with several interested parties.
Unveiling the ceremonial plaque: (L-R) Jacques Kyabula Katwe, Governor Haut-Katanga Province; Antoinette N’Samba Kalambayi, Minister of Mines of the Democratic Republic of Congo; Adèle Kayinda Mahina, Minister of State and Minister of Portfolio of the Democratic Republic of Congo; Jean-Michel Sama Lukonde, Prime Minister of the Democratic Republic of Congo; Marna Cloete, President of Ivanhoe Mines; Louis Watum, General Manager of KICO; Calixte Mukasa, National Member of Parliament; and Alphonse Kaputo Kalubi, Chairman of Gécamines.
Breaking of ground: (L-R) Alphonse Kaputo Kalubi, Chairman of Gécamines; Olivier Binyingo Chairman of KICO; Calixte Mukasa, National Member of Parliament; Jean-Paul Mwenge, Provincial Member of Parliament for Haut-Katanga Province; Marna Cloete, President of Ivanhoe Mines; Jean-Michel Sama Lukonde, Prime Minister of the Democratic Republic of Congo; Jacques Kyabula Katwe, Governor of Haut-Katanga Province; Adèle Kayinda Mahina, Minister of State and Minister of Portfolio of the Democratic Republic of Congo; Antoinette N’Samba Kalambayi, Minister of Mines of the Democratic Republic of Congo; Grand Chef Kaponda, Paramount Chief of the Kaponda Chiefdom; and Louis Watum, General Manager of KICO.
Ivanhoe Mines’ President, Marna Cloete commented:
“Kipushi is exceptional, not only because of the renowned Big Zinc deposit, which is one of the world’s richest orebodies, but more importantly because of the people of Kipushi and the unique partnerships that make today’s ceremony possible. I would like to express our sincere thanks to His Excellency the Prime Minister and the assembled dignitaries, our partners Gécamines, the hard-working employees of KICO, and the people of Kipushi town for being the architects of the future for the world-class Kipushi Mine. We now have our sights clearly set on the re-start of production in 2024. The re-birth of the historic Kipushi Mine will be a great achievement for Ivanhoe Mines, our partners and shareholders, and the Democratic Republic of Congo.”
His Excellency Jean-Michel Sama Lukonde, DRC Prime Minister, commented:
“It is with great satisfaction we now see the path toward the revival of this historic mine. Kipushi started production almost one hundred years ago in 1924, and I believe today is a sign of things to come. We can make Kipushi great again! This will benefit not only KICO, but also the citizens of Kipushi and the entire Democratic Republic of Congo. This partnership also aligns well with the vision of our President, His Excellency Mr. Felix Tshisekedi.”
Memorandum of understanding signed with Province of Haut-Katanga to study the upgrade of the Kipushi border crossing
The Kipushi Mine is strategically located less than one kilometre from the DRC-Zambia border, which will be the gateway for Kipushi’s products to global export markets.
On August 24, 2022, Ivanhoe Mines and the Province of Haut-Katanga signed a MOU concerning the construction of a dedicated, commercial border post for the Kipushi Mine, together with the upgrading of the existing border post in the town of Kipushi, which currently only serves local traffic between DRC and Zambia.
The MOU signing ceremony was attended by (L-R), His Excellency Miguel Katemb, Minister of Infrastructure for Haut-Katanga Province; Jacques Kyabula Katwe Governor of Haut-Katanga Province; Marna Cloete, President, Ivanhoe Mines and Olivier Binyingo, Chairman of KICO and Vice President, Public Affairs, Ivanhoe Mines.
This new commercial border crossing will provide a significant advantage to the Kipushi Mine as a direct means of importing materials and consumables, as well as clearing customs and exporting products from the mine, and will provide socio-economic benefits to the town and Province of Haut-Katanga.
The opening of the Kipushi border crossing also is anticipated to provide ancillary benefits to Kamoa-Kakula, where work is underway to improve processes for clearing copper products for export and to open alternative export border crossings between the DRC and Zambia, in order to alleviate congestion at the existing border crossings at Kasumbalesa and Sakania in Haut-Katanga Province.
The re-birth of a mining legend; Kipushi is a significant past producer of copper, zinc, germanium and precious metals
The Kipushi Mine has a long and storied history as a major producer of copper and zinc. Built and then operated by Union Minière for 42 years, Kipushi began mining a reported 18% copper deposit from a surface open pit in 1924. It was the world’s richest copper mine at the time. The Kipushi Mine then transitioned to become Africa’s richest underground copper, zinc and germanium mine. State-owned Gécamines gained control of Kipushi in 1967 and operated the mine until 1993, when it was placed on care and maintenance due to a combination of economic and political factors.
Over a span of 69 years, Kipushi produced a total of 6.6 million tonnes of zinc and 4.0 million tonnes of copper from 60 million tonnes of ore grading 11% zinc and approximately 7% copper. It also produced 278 tonnes of germanium and 12,673 tonnes of lead between 1956 and 1978. There is no formal record of the production of precious metals as the concentrate was shipped to Belgium and the recovery of precious metals remained undisclosed during the colonial era. However, drilling by Ivanhoe Mines has encountered significant silver values within Kipushi’s current zinc- and copper-rich deposits.
Germanium is considered a technology-critical element, and is used as a semiconductor in transistors and many other electronic devices and technologies.
Currently, major end uses for germanium include fibre-optic systems, infrared optics, high-efficiency photovoltaic solar panels, and light-emitting diodes (LEDs). Germanium compounds are also used for polymerization catalysts and have most recently found use in the production of nanowires, as well as in the development of ultrafast quantum computing applications and communication technologies.
Most of Kipushi’s historical production was from the Fault Zone, a steeply-dipping ore body rich in copper and zinc that was initially mined as an open pit. The Fault Zone extends to a depth of at least 1,800 metres below surface, along the intersection of a fault in carbonaceous dolomites.
In 1924 Kipushi began mining 18% copper from a surface open pit, before transitioning to Africa’s richest underground copper and zinc mine. This picture shows the Kipushi open pit in November 1928.
Before Kipushi was idled in 1993, Gécamines discovered the Big Zinc deposit at a depth of approximately 1,250 metres below surface and adjacent to the producing Fault Zone. The Big Zinc Deposit has not been mined and is the initial target for production as outlined in the 2022 Feasibility Study.
Since acquiring its interest in the Kipushi Mine in 2011, Ivanhoe’s drilling campaigns have upgraded and expanded the mine’s zinc-rich Measured and Indicated Mineral Resources by more than double to an estimated 11.78 million tonnes grading 35.34% zinc, 0.80% copper, 23 grams/tonne (g/t) silver and 64 g/t germanium, at a 7% zinc cut-off, containing 9.2 billion pounds of zinc, 8.7 million ounces of silver and 24.4 million ounces of germanium.
In addition, Ivanhoe’s drilling expanded Kipushi’s copper-rich Measured and Indicated Mineral Resources to an additional 2.29 million tonnes at grades of 4.03% copper, 2.85% zinc, 21 g/t silver and 19 g/t germanium, at a 1.5% copper cut-off – containing 144 million pounds of copper.
The Kipushi Mine, once in operation, will be powered by clean, renewable hydro-generated electricity and is set to be among one of the world’s lowest Scope 1 and 2 greenhouse gas emitters per tonne of zinc metal produced.
Picture of the headframes for Kipushi shafts 1, 2 and 3, and the Kipushi concentrator in February 1966.
Disclosures of a scientific or technical nature on the Kipushi Project in this news release have been reviewed and approved by Stephen Torr, P.Geo., Ivanhoe Mines’ Vice President, Geosciences, 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, Geosciences of Ivanhoe Mines. Mr. Torr has verified the technical data disclosed in this news release.
Ivanhoe has also prepared an independent, NI 43-101-compliant technical report for the Kipushi Project, which is available on the company’s website and under the company’s SEDAR profile at www.sedar.com:
- • The Kipushi 2022 Feasibility Study dated February 14, 2022, prepared by OreWin Pty Ltd., MSA Group (Pty) Ltd., SRK Consulting (South Africa) (Pty) Ltd, and METC Engineering.
The technical report includes relevant information regarding the effective dates and the assumptions, parameters and methods of the mineral resource estimates on the Kipushi Project cited in this news release, as well as information regarding data verification, exploration procedures, sample preparation, analyses and security, and other matters relevant to the scientific and technical disclosure contained in this news release in respect of the Kipushi Project.
About Ivanhoe Mines
Ivanhoe Mines is a Canadian mining company focused on advancing its three principal projects in Southern Africa: the major new, mechanized, underground mines at the Kamoa-Kakula Mining Complex in the Democratic Republic of Congo, the development
of the Platreef palladium-rhodium-platinum-nickel-copper-gold discovery in South Africa; and the restart of the historic Kipushi zinc-copper-germanium-silver mine, also in the Democratic Republic of Congo.
Kamoa-Kakula Mining Complex is one of the highest grade and fastest growing major copper mining operations in the world. Copper concentrates were first produced in May 2021 and, through on-going phased expansions, it is positioned to become one of the world's largest copper producing operations by Q4 2024. The Kamoa-Kakula Mining Complex is powered by clean, renewable hydro-generated electricity and is among one of the world’s lowest greenhouse gas emitters per tonne of copper metal produced. Ivanhoe Mines has pledged to achieve net-zero operational greenhouse gas emissions (Scope 1 and 2) at the Kamoa-Kakula Mining Complex.
Ivanhoe Mines also is exploring for new copper discoveries across its circa 2,400km2 of exploration licences in the Western Foreland region in the Democratic Republic of Congo, which are located in close proximity to the Kamoa-Kakula Mining Complex.
Vancouver: Matthew Keevil +1.604.558.1034
London: Tommy Horton +44 7866 913 207
Tanya Todd +1.604.331.9834
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 a two year development timeline to bring Kipushi to commercial production; (ii) statements regarding successful commencement of commercial production would establish Kipushi as the world’s highest-grade major zinc mine with average grade of 36.4% over the first five years of production; (iii) statements regarding Kipushi having an after-tax net present value at an 8% real discount rate of $1.4 billion, with an after-tax real internal rate of return of 54%, at a zinc price of 1.40/lb.; (iv) statements regarding pre-production capital estimated at US$382 million; (v) statements regarding future mine production including life-of-mine average annual zinc production of 240,000 tonnes with C1 cash costs of US$0.65/lb of payable zinc; (vi) statements regarding a mine life of 14 years; (vii) statements regarding financing and offtake discussions, including a pre-payment facility of $250 million; (viii) statements regarding the memorandum of understanding signed with Province of Haut-Katanga for the upgrade of the Kipushi border crossing; (ix) statements regarding expected methods of mining and processing.
As well, all of the results of the Kipushi 2022 feasibility study, 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 development of the project. Furthermore, with respect to this specific forward-looking information concerning the development of the Kipushi 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; (xvi) political factors; (xvii) unforeseen delays or stoppages in shipping and transportation of goods and equipment; and (xix) that the new Kipushi joint venture agreement is executed on anticipated timelines.
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 2022 Q2 MD&A and its current annual information form.
刚果民主共和国基普什 — 艾芬豪矿业 (TSX: IVN; OTCQX: IVPAF) 总裁玛娜·克洛特 (Marna Cloete) 欣然宣布，艾芬豪与刚果(金)国有矿业公司杰卡明 (Gécamines) 的合资企业 Kipushi Corporation SA (以下简称“KICO”) 最举行重启开工仪式，纪念久负盛名的基普什 (Kipushi) 锌-铜-锗-银矿正式启动选厂建设工程。此外，艾芬豪与上加丹加省政府已签署谅解备忘录，研究对基普什镇的刚果(金)-赞比亚口岸进行升级改造的方案。
刚果民主共和国总理萨马·卢孔德·基延格 (Jean-Michel Sama Lukonde) 阁下、国务部长兼资产管理部长Adèle Kayinda Mahina阁下、矿业部长Antoinette N’Samba Kalambayi阁下、上加丹加省政府官员、其它国家与省级和地方政要，以及艾芬豪、杰卡明和基普什镇的代表出席了重启开工仪式。
艾芬豪矿业总裁玛娜·克洛特 (中) 及KICO总经理路易斯·瓦特姆 (Louis Watum) (左) 欢迎刚果民主共和国总理萨马·卢孔德·基延格 (Jean-Michel Sama Lukonde) (右) 及政府代表出席重启开工仪式。
与可比的开发项目比较，基普什利用现有、修复的地表和地下大型基础设施，可大幅降低资本性开支，并可缩短建设期至两年。估计投产前资本性开支 (包括应急费用) 为3.82亿美元。主要的建设项目是在地表建造一座常规的选厂以及配套基础设施，同时重启井下采矿活动。
以1.40美元/磅的锌价估算，项目具有14亿美元的税后净现值 (实际折现率8%) 和54%的税后内部收益率。目前的现货锌价为1.46美元/磅。
从左至右﹕上加丹加省省长Jacques Kyabula Katwe、刚果民主共和国矿业部长Antoinette N’Samba Kalambayi、刚果民主共和国国务部长兼资产管理部长Adèle Kayinda Mahina、刚果民主共和国总理萨马·卢孔德·基延格、艾芬豪矿业总裁玛娜·克洛特、KICO总经理路易斯·瓦特姆、国家议会成员Calixte Mukasa及杰卡明董事长阿尔方斯·卡普托·卡鲁比 (Alphonse Kaputo Kalubi) 出席揭幕仪式。
从左至右﹕杰卡明董事长阿尔方斯·卡普托·卡鲁比、KICO董事长奥利维尔·宾因戈 (Olivier Binyingo)、国家议会成员Calixte Mukasa、上加丹加省议会成员Jean-Paul Mwenge、艾芬豪矿业总裁玛娜·克洛特、刚果民主共和国总理萨马·卢孔德·基延格、上加丹加省省长Jacques Kyabula Katwe、刚果民主共和国国务部长兼资产管理部长Adèle Kayinda Mahina、刚果民主共和国矿业部长Antoinette N’Samba Kalambayi、Kaponda酋长领地最高酋长Kaponda酋长以及KICO总经理路易斯·瓦特姆出席动工仪式。
刚果(金)总理萨马·卢孔德·基延格阁下评论说﹕“很荣幸能够见证久负盛名的基普什矿山迈进复产之路。基普什于1924年首次投产，至今已有一百个年头，我相信今日所见预示着着未来的良好发展，缔造基普什的伟大功业，为KICO、基普什的居民以至整个刚果民主共和国带来利益。双方的合作关系也符合总统菲利克斯·齐塞克迪(Felix Tshisekedi) 的愿景。”
从左至右﹕上加丹加省基础设施部长Miguel Katemb阁下、上加丹加省省长Jacques Kyabula Katwe、艾芬豪矿业总裁玛娜·克洛特以及KICO董事长兼艾芬豪矿业公共事务副总裁奥利维尔·宾因戈出席谅解备忘录的签字仪式。
预计开放基普什口岸同时将为卡莫阿-卡库拉 (Kamoa-Kakula) 项目带来协同效应，目前正在改善出口铜产品的清关流程，并计划在刚果(金)和赞比亚之间开设新的出口过境口岸，以缓解上加丹加省 Kasumbalesa 和Sakania 现有口岸的交通拥挤问题。
本新闻稿中关于基普什项目的科学或技术性披露已经由艾芬豪矿业地质副总裁斯蒂芬·托尔 (Stephen Torr) 审查和批准。托尔先生是NI 43-101 标准下的合资格人。由于托尔先生是艾芬豪矿业的地质副总裁，因此他并不符合NI 43-101 对独立人士的界定。托尔先生已核实本新闻稿所披露的技术数据。
艾芬豪已经为基普什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﹕
- 2022年2月14日发布的基普什2022可行性研究，由OreWin Pty Ltd.、MSA Group (Pty) Ltd.、SRK Consulting (South Africa) (Pty) Ltd. 和METC Engineering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主要项目：位于刚果民主共和国的卡莫阿-卡库拉铜矿项目新扩建的机械化井下矿山开发工程、位于南非的普拉特瑞夫 (Platreef) 钯-铑-铂-镍-铜-金矿的开拓工程；以及同样位于刚果民主共和国、久负盛名的基普什锌-铜-锗-银矿的重建工程。
同时，艾芬豪矿业正在刚果民主共和国境内的西部前沿 (Western Foreland) 探矿权内寻找新的铜矿资源。西部前沿探矿权占地2,400平方公里，毗邻卡莫阿-卡库拉铜矿项目。
温哥华﹕马修·基维尔 (Matthew Keevil)，电话﹕+1.604.558.1034
伦敦﹕托米·霍顿 (Tommy Horton) ，电话﹕+44 7866 913 207
坦尼娅·托德 (Tanya Todd) ，电话﹕+1.604.331.9834
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、不确定性和其他因素，可能导致本公司的实际业绩、表现或成就、其项目或行业的业绩，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) 关于为期两年的开发方案推进基普什实现商业化生产的陈述；(ii) 关于成功开展商业化生产，将使基普什成为全球品位最高的大型锌矿，投产后前5年的平均品位达36.4%以上的陈述；(iii) 关于以锌价1.40美元/磅计算，基普什项目具有14亿美元的税后净现值和54%的内部收益率的陈述；(iv) 关于投产前资本估算为3.82亿美元的陈述；(v) 关于矿山服务年限的平均年产量达24万吨锌，C1现金成本为每磅应付锌0.65美元的陈述；(vi) 关于矿山服务年限为14年的陈述；(vii) 关于融资和包销安排的讨论，包括一项2.5亿美元预付款融资的陈述；(viii) 关于与上加丹加省签署谅解备忘录，研究升级基普什边境口岸的陈述；以及 (ix) 关于项目预期采用的开采和选矿方法的陈述。
此外，基普什2022可行性研究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、估计矿山服务年限、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，对于与基普什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；(xvi) 项目范围或设计更变；(xvii) 政治因素；(xvii) 货物及设备的航运和运输不可预见的延误或停顿；以及 (xix) 基普什新的合资企业协议按预期时间点执行的情况。