Ivanhoe Mines, together with its partners, announced the positive findings of an independent Integrated Development Plan (2023 IDP) for the Kamoa-Kakula copper complex.
The Canadian mining company’s partners in the project include Zijin Mining Group, Crystal River Global and the Democratic Republic of Congo (DRC).
The 2023 IDP includes a pre-feasibility study (PFS) for the Phase 3 and Phase 4 expansions of the Kamoa-Kakula Copper Complex over a mine life of 33 years.
It also includes an updated Preliminary Economic Assessment (PEA) that indicates a life-of-mine extension case to 42 years in total.
Ivanhoe Mines executive co-chairman Robert Friedland said: “In a world where it is exceedingly rare for tier-one ore bodies to be discovered, developed and mined.
“Kamoa-Kakula stands out as a beacon of what is possible given the exceptionally hard work of a ‘United Nations’ of highly dedicated people.
“This study marks the culmination of a 26-year journey that began with the conviction of visionary geologists and now has become one of the world’s leading, lowest-carbon emitting, long-life suppliers of vital copper metal, which humankind desperately requires as we transition to a more sustainable future underpinned by renewable energy.”
The PFS evaluates a staged increase in production capacity at Kamoa-Kakula from the current rate of 7.6 million tonnes per annum (Mtpa) up to a total of 19.2Mtpa by 2030.
The throughput of Phase 1 and 2 concentrators is increased to 9.2Mtpa by the imminent completion of the debottlenecking program.
The Phase 3 expansion includes the ongoing construction of a new 5Mtpa concentrator, located at Kamoa, which is targeted to be completed in Q4 2024.
With the turbine replacement, an additional 178MW of clean hydroelectric power will be supplied to the national grid and provide power for Phase 3.
Phase 4 will include the construction of an additional 5Mtpa concentrator, fed by mines in the Kamoa area, which will bring the overall production up to 19.2Mtpa.
The PEA indicates the extension of mine life by additional nine years, and maintaining production from the Phase 1-4 concentrators until beyond 2060, said the company.
Ivanhoe Mines president Marna Cloete said: “The Democratic Republic of Congo is blessed with exceptional hydropower potential, world-class geology, and a young, vibrant population ready to enter the workforce as the next generation of accomplished engineers, geologists and skilled technicians.
“Kamoa-Kakula now has generated over 12,000 jobs from its operations and construction activities, with over 95% of those positions filled by Congolese nationals.
“We are endeavouring to continue this excellent track record of local employment and training with the construction of the Kamoa Centre of Excellence. The centre will create a sustainable and community-focused higher learning environment, offering international degrees and diplomas in the heart of the Lualaba province in the DRC.”