KOLWEZI, DEMOCRATIC REPUBLIC OF CONGO – Ivanhoe Mines (TSX: IVN; OTCQX: IVPAF) Co-Chairs Robert Friedland and Yufeng “Miles” Sun are pleased to announce that the Kamoa-Kakula Mining Complex in the Democratic Republic of Congo has set a new quarterly production record in the first quarter of 2022, with 55,602 tonnes of copper in concentrate produced. Kamoa Copper milled 1.08 million ore tonnes during the quarter at an average feed grade of 5.91% copper.
The Kamoa-Kakula Phase 2, 3.8 million-tonne-per-annum concentrator plant successfully declared commercial production on April 7, 2022. In addition, Kamoa-Kakula set a new daily production record on April 8, 2022, with 25,126 tonnes milled and 1,202 tonnes of copper produced.
Management now expects that the early commissioning of the Phase 2 concentrator plant will enable Kamoa Copper to reach the upper end of its 2022 copper production guidance of 290,000 to 340,000 tonnes.
First ore was introduced into the Phase 2 milling circuit on March 21, 2022, and first copper concentrate was produced approximately four months ahead of the originally announced development schedule. The Phase 2 concentrator plant is a mirror image of the Phase 1 plant, with a design throughput of 475 dry tonnes per hour, or 3.8 million tonnes of ore per year. Over the last six months, the Phase 1 plant has consistently exceeded design ore throughput by approximately 10% to 15%.
During the first 17 days of production, Phase 2 regularly exceeded its design throughput capacity, and continues to perform at similar throughput and recovery rates as the Phase 1 concentrator.
Kamoa-Kakula’s Phase 1 and Phase 2 concentrator plants now are both in commercial production. Kamoa Copper will increase its annualized copper production rate to more than 400,000 tonnes from this month forward.
Mark Farren, Kamoa Copper’s CEO, commented: “The Phase 2 concentrator has been successfully commissioned in record time. We can expect to see a doubling of copper output for the remainder of this year, as well as further increases into 2023 as the de-bottlenecking program is executed. It has been wonderful to see how quickly Phase 2 reached commercial production, as our team leveraged prior learnings and experience from Phase 1.
“Our project team’s focus now will be firmly on Phase 3 execution. We intend to deliver the Phase 3 project once again on time, and on budget. Phase 3 is targeting first production by Q4 2024. We are proud of what our people have achieved in a very short space of time – and are equally determined to reach the next milestones along a similar trajectory.”
Mr. Friedland added: “We must again commend the operations team at Kamoa Copper for their consistent ability to exceed all expectations. Over the past three years, Ivanhoe Mines and its partners have continued to demonstrate an ability to deliver world-scale mining development projects ahead of schedule, and on budget … a real-world unicorn in this industry. In under three years, we fully expect Kamoa-Kakula to become the world’s second-largest global copper producing complex. Details will be announced later this year with the release of the Phase 3 Pre-Feasibility Study in the third quarter.
“It is certainly an exciting time to be a shareholder and employee of Ivanhoe Mines, as we embark on a period of unprecedented growth to emerge as the world's next major, diversified mining company, in close partnership with our local communities.
“The global markets are experiencing a historic, long-term, and acute shortage of the vital metals we require to achieve the electrification and decarbonization of the world economy. London Metal Exchange stocks of its six main metals (copper, aluminum, zinc, lead, tin, and nickel) are at their collective lowest level since at least 1997 … and senior management at Ivanhoe Mines sees ourselves as an integral part of the solution by providing the metals the world urgently needs for electrification … together with our joint venture partner, Zijin Mining, we are resolved to expedite future expansion phases at Kamoa-Kakula to generate stable, profitable growth and provide lasting economic and social benefits for the Congolese nation and people.”
Watch an April 2022 video highlighting Kamoa-Kakula’s Phase 1 and Phase 2 concentrator plants during Q1 2022: https://vimeo.com/697952554/758c582d48
Watch a March 2022 virtual site tour of Kamoa-Kakula from the CRU World Copper Conference: https://vimeo.com/697969450/70ff48b986
Kamoa-Kakula set a fresh daily production record of 1,202 tonnes copper on April 8, 2022. During the first 17 days of production, the Phase 2 plant regularly exceeded its design throughput capacity.
Installation of Kamoa-Kakula's third Larox Filter press from Metso Outotec of Espoo, Finland. (L-R) Ma Ying Hua, Bench Worker; Huang Ya Wen, Welder; Gaby Kabeya, Plumber; Yang Hui Ming, Bench Worker.
Details of the Phase 2 concentrator commercial ramp-up
In late March 2022, the Company announced that the Kamoa-Kakula Mine’s Phase 2 concentrator plant began hot commissioning significantly ahead of schedule. First ore was introduced into the Phase 2 milling circuit on March 21, 2022, and first copper concentrate produced approximately four months ahead of the originally announced development schedule.
Commercial production from the Phase 2 concentrator was declared on April 7, 2022. During the first 17 days of production, Phase 2 regularly exceeded its design throughput capacity. On April 8, 2022, Kamoa-Kakula set a new daily milling throughput record of 25,126 tonnes.
Kamoa Copper’s previously announced de-bottlenecking program also is progressing on schedule. The program will see Kamoa-Kakula increase the combined design processing capacity of the Phase 1 and Phase 2 concentrator plants by approximately 21%, to 9.2 million tonnes per annum, up from 7.6 million tonnes per annum.
Once completed, the de-bottlenecking program will enable the copper production from Kamoa-Kakula’s first two phases to exceed 450,000 tonnes per year by Q2 2023, positioning Kamoa Copper as the world’s fourth largest copper producer.
Updated Pre-Feasibility Study for Phase 3 scheduled for Q3 2022; Phase 3 production scheduled for late 2024
The Pre-Feasibility Study for the Phase 3 expansion is well advanced and expected to be announced during the third quarter of this year. Kamoa-Kakula's Phase 3 will consist of two new mines known as Kamoa 1 and Kamoa 2, as well as the initial decline development at Kakula West. A new, larger concentrator plant will also be established adjacent to the two new mines at Kamoa. The associated power and surface infrastructure for Phase 3 will be designed to support future expansions.
In addition, Phase 3 includes a 500,000-tonne-per-annum, direct-to-blister flash smelter to produce approximately 99% copper metal, and the replacement of turbine 5 at the Inga 2 hydroelectric power station. The turbine replacement will supply additional clean hydro-electric power for the Phase 3 expansion and smelter.
Phase 3 is achieving solid progress, with detailed design, budgeting and engineering well advanced. Construction progress on the new box cut and twin decline excavations remain on track at the Kamoa 1 and Kamoa 2 mines.
Phase 3 is expected to begin production by the end of 2024.
Excavation work, pictured as at April 2022, is advancing quickly at Kamoa-Kakula’s new box cut for the twin declines that will provide access to the Phase 3 mining areas.
Kamoa-Kakula’s enlarged concentrate storage warehouse to accommodate Phase 1 and Phase 2 production volumes.
Richardo Kanjiri (left) and Timothy Mutandwa, nozzlemen with Kongo River Construction of Lubumbashi, Democratic Republic of Congo, at the box-cut site preparing for guniting, the process of spraying a mix or mortar or concrete to a surface.
Martha Sentle, Control and Instrumentation (C&I) Engineer, at her workstation in the control room for Kamoa-Kakula's Phase 2 process optimization.
Location of the direct-to-blister flash furnace in the new smelter plant for Kamoa-Kakula's Phase 3. (L-R) Qingyue Wang, Interpreter; Changdong Liu, Kamoa Technical Executive, Smelting; Abraham Li, Kamoa Deputy General Manager; David Mitchell, Kamoa Senior Project Manager, Smelter; Ugeshan Naidoo, Kamoa Area Project Manager, Smelter Infrastructure; Jimmy Chen, Kamoa Construction Coordinator.
Photo from the first blast at the Kamoa 1 and 2 box cut, which occurred in early April. The Phase 3 expansion is targeting first production in Q4 2024.
Ivanhoe Mines to issue Q1 2022 financial results and host conference call for investors on May 10
Ivanhoe Mines will report its Q1 2022 financial results before market open on Tuesday, May 10, 2022.
The company will hold an investor conference call to discuss the Q1 2022 financial results at 10:30 a.m. Eastern time / 7:30 a.m. Pacific time on the same day. The conference call dial-in is +1-647-794-4605 or toll free 1-888-204-4368, quote “Ivanhoe Mines Q1 2022 Financial Results” if requested. Media are invited to attend on a listen-only basis.
Link to join the live audio webcast: https://bit.ly/3DTATay
An audio webcast recording of the conference call, together with supporting presentation slides, will be available on Ivanhoe Mines’ website at www.ivanhoemines.com.
After issuance, the Financial Statements and Management’s Discussion and Analysis will be available at www.ivanhoemines.com and at www.sedar.com.
Kamoa-Kakula achieved record quarterly production of 55,602 tonnes of copper in concentrate in Q1 2022, with 19,605 tonnes copper produced in March.
Construction now is underway at the Kamoa Center of Excellence, which once in operation, aims to create a sustainable and community-centered learning environment in the heart of the Democratic Republic of Congo. Kamoa Copper’s leadership team hosted the ground-breaking ceremony in December 2021.
The Kamoa Centre for Excellence will be a future-ready learning environment hosted within an adaptable campus. This community advanced training centre will create a legacy of collaboration, supporting local infrastructure and economic growth.
Disclosures of a scientific or technical nature 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 projects in Southern Africa: the development of major new, mechanized, underground mines at the Kamoa-Kakula copper discoveries in the Democratic Republic of Congo 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 Democratic Republic of Congo.
Kamoa-Kakula is the world’s fastest growing major copper mine. Kamoa-Kakula began producing copper concentrates in May 2021 and, through phased expansions, is positioned to become one of the world's largest copper producers. Kamoa-Kakula is being powered by clean, renewable hydro-generated electricity and is projected to 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. Ivanhoe also is exploring for new copper discoveries on its Western Foreland exploration licences in the Democratic Republic of Congo, near the Kamoa-Kakula Mining Complex.
About the Kamoa-Kakula Copper Mining Complex
Kamoa-Kakula is the world’s fastest growing and highest-grade major copper mining complex. 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 foremost among the world's lowest greenhouse gas emitters per unit of copper produced.
The Kamoa-Kakula Mining Complex 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%).
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: (i) statements that an updated pre-feasibility study for Phase 3 is scheduled for Q3 2022; (ii) statements regarding Kamoa-Kakula’s copper production guidance for 2022, which currently is estimated at between 290,000 tonnes and 340,000 tonnes of copper in concentrate; (iii) statements regarding first copper production from Phase 3 expected in Q4 2024; (iv) statements regarding the de-bottlenecking program will enable the copper production from Kamoa Copper’s first two phases to exceed 450,000 tonnes per year by Q2 2023; (v) statements regarding the Kamoa-Kakula’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 Kamoa-Kakula will be among the world's lowest greenhouse gas emitters per unit of copper produced; and (vii) statements regarding achieve net-zero operational greenhouse gas emissions (Scope 1 and 2) at the Kamoa-Kakula Copper Mine.
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 Q4 and Year-End 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，位于刚果民主共和国的卡莫阿-卡库拉 (Kamoa-Kakula) 铜矿项目于2022年第一季度创下全新生产纪录，生产精矿含铜金属55,602吨。卡莫阿铜业本季度共处理108万吨矿石，平均入选品位5.91%。
管理层预计II期选厂提前投产，将有利于卡莫阿铜业达到2022年铜生产指导目标 (290,000至340,000吨) 的上限。
卡莫阿铜业首席执行官马克·法伦 (Mark Farren) 表示﹕“II期选厂在创纪录的时间内成功投产。随着技改方案的进行，我们预计今年剩余时间内的铜产量将会翻倍，并于2023年进一步提升产量。我们很高兴看到，矿山团队汲取了I期选厂的经验，使II期得以在短时间内实现商业化生产。”
“目前实现世界经济电气化和脱碳所需的重要金属出现全球性的、历史性的长期严重短缺。伦敦金属交易所六种主要金属 (铜、铝、锌、铅、锡和镍) 的库存已降至1997年以来的最低水平。面对这迫切的问题，我们作为解决方案的中坚力量，提供世界走向电气化所需的铜金属。我们与合资伙伴紫金矿业携手共进，致力于加快卡莫阿-卡库拉的后续扩建，以实现盈利增长并为刚果(金)人民创造长期的经济和社会福祉。”
卡莫阿-卡库拉于2022年4月8日刷新单日纪录，生产1,202吨铜。 II 期选厂投产后前17天经常超越设计产能，并以接近 I 期选厂的产能和回收率持续运行。
卡莫阿-卡库拉新的斜坡道开口工程进展迅速，将提供III期采区的进场通道 (摄于2022年4月)。 >
刚果(金)卢本巴希Kongo River Construction公司的喷枪操作工Richardo Kanjiri (左)和Timothy Mutandwa在井口工地准备喷浆工作，将砂浆或混凝土喷射到表面的程序。
卡莫阿-卡库拉III期冶炼厂选址。翻译王清悦、卡莫阿冶炼厂技术主管刘长东、卡莫阿副总经理李志林、卡莫阿冶炼厂高级项目经理David Mitchell、卡莫阿厂区项目经理 (冶炼厂基础设施) Ugeshan Naidoo，以及卡莫阿建筑协调员陈建明。
卡莫阿1区和2区斜坡道开口于4 月初进行首次爆破作业。III期扩建计划于 2024第四季度实现投产。
公司将于同日东部时间上午10:30/西部时间上午7:30召开投资者电话会议，讨论2022年第一季度财务业绩。电话会议拨入号码为 +1-647-794-4605或免费拨号号码 1-888-204-4368，如有要求，请引述"艾芬豪矿业2022年第一季度财务业绩 (Ivanhoe Mines Q1 2022 Financial Results)"。被邀媒体将在听众列席。
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，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。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。
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主要项目：位于刚果民主共和国的卡莫阿-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；以及同样位于刚果民主共和国、久负盛名的基普什 (Kipushi) 锌-铜-锗-银矿的大型重建和改善工程。
卡莫阿-卡库拉是世界上增长最快的大型铜矿。卡莫阿-卡库拉于2021年5月实现铜精矿生产，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，艾芬豪正在刚果民主共和国境内、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。
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。
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﹕(i) 关于III期的更新版预可行性研究将于2022年第三季度发表的陈述；(ii) 关于卡莫阿-卡库拉铜矿2022年生产精矿含铜金属的指导目标为290,000吨至340,000吨的陈述；(iii) 关于预计III期扩建将于2024年第四季度实现投产的陈述；(iv) 关于技改方案完成后，预计到2023年第二季度，卡莫阿-卡库拉I期和II期的年产铜将超过45万吨的陈述；(v) 关于分期扩建方案一旦扩大至1,900万吨/年，卡莫阿-卡库拉将成为全球第二大铜矿山，最高年产铜80多万吨的陈述；(vi) 关于卡莫阿-卡库拉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；以及 (vii) 关于卡莫阿-卡库拉铜矿将致力实现净零运营温室气体排放 (范围一和二) 的陈述。
此外，卡库拉铜矿可行性研究、卡库拉-卡索科预可行性研究以及卡莫阿-卡库拉项目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、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；(xvi) 项目范围或设计更变；以及 (xvii) 政治因素。