Ivanhoe Mines' Senior Management Meet with Top DRC Government Officials to Provide Updates on Development Progress at the Kamoa-Kakula and Kipushi Projects
Kinshasa, November 25, 2019 - Robert Friedland and Yufeng "Miles" Sun, Co-Chairmen of Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF), announced today that senior members of Ivanhoe Mines' management team met with high-ranking government officials in Kinshasa to congratulate them on their recent appointments and to provide updates on the development progress at Ivanhoe's Kamoa-Kakula and Kipushi joint-venture mining projects.
The Ivanhoe team met with Prime Minister Sylvestre Ilunga Ilukamba, Mines Minister Willy Kitobo Samsoni, and Minister of Portfolio Clément Kuete Nymi Bemuna. The three high-ranking DRC ministers were formally appointed in August in a new coalition government led by President Felix Tshisekedi. The Ivanhoe management team also had separate, constructive discussions with Albert Yuma, Chairman of the Congolese state-owned mining company Gécamines.
Ivanhoe Mines was represented in the meetings by Tony Giardini, President, Louis Watum, DRC Country Manager and President of the Board of Directors of Kamoa Copper and Kipushi Corporation, and Matthieu Bos, Senior Vice President, Corporate Development.
"The DRC government is both our regulator and a key shareholder, held through the Minister of Portfolio, in the Kamoa-Kakula Copper Project," said Mr. Giardini. "The discussions with respect to Kamoa-Kakula were extremely productive and both parties are working hard to ensure that the project starts producing copper as scheduled in the third quarter of 2021."
"All levels of government in the DRC have been helpful in ensuring that construction at the project moves ahead rapidly while maintaining high performance standards in health, safety, environment and community development."
The Kamoa-Kakula Project is a joint venture between Ivanhoe Mines (39.6%), Zijin Mining Group (39.6%), Crystal River Global Limited (0.8%) and the DRC government (20%). Ivanhoe Mines and Zijin Mining are co-funding development of the Kamoa-Kakula Copper Project.
The Kipushi Project is a joint venture between Ivanhoe Mines (68%) and Gécamines (32%). Ivanhoe Mines and Gécamines are working together to restart production at the high-grade Kipushi zinc-copper-germanium-silver mine.
About Ivanhoe Mines
Ivanhoe Mines is a Canadian mining company focused on advancing its three principal projects in Southern Africa: the development of new mines at the Kamoa-Kakula copper discoveries in the Democratic Republic of Congo (DRC) and the Platreef palladium-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. Ivanhoe also is exploring for new copper discoveries on its wholly-owned Western Foreland exploration licences in the DRC, near the Kamoa-Kakula Project.
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