Ivanhoe in talks over African Platreef and Western Forelands projects

28 July 2020 (Last Updated July 28th, 2020 11:43)

Canadian mining company Ivanhoe Mines is holding strategic talks for its Western Forelands project in the Democratic Republic of the Congo (DRC) and its Platreef project in South Africa’s Bushveld Complex.

Ivanhoe in talks over African Platreef and Western Forelands projects
Ivanhoe is also continuing to have strategic talks over its Kipushi copper project in the DRC. Credit: Alex Banner from Pixabay.

Canadian mining company Ivanhoe Mines is holding strategic talks for its Western Forelands project in the Democratic Republic of the Congo (DRC) and its Platreef project in South Africa’s Bushveld Complex.

The Canadian miner noted that it had received several expressions of interest  for the Platreef project from streaming companies.

Platreef project’s resources comprise platinum-group metals (PGMs), nickel, copper and gold.

The Western Forelands’ exploration licences are located next to Ivanhoe’s Kamoa-Kakula project in Congo’s copper belt.

Kamoa-Kakula project is a joint venture between Ivanhoe Mines (39.6%), Zijin Mining (39.6%), Crystal River Global (0.8%) and the Government of DRC (20%).

Ivanhoe is also continuing with strategic talks for its Kipushi copper project in the DRC.

Ivanhoe Mines executive co-chairman Robert Friedland said: “The unparalleled exploration potential for new high-grade copper discoveries on our wholly-owned, Western Foreland exploration licences that total more than 2,500 square kilometres; the recent progress toward putting our tier-one Platreef palladium-platinum-nickel-copper-rhodium-gold project in South Africa into production; and the unrivalled zinc, copper and silver grades in our Kipushi Project in the DRC, are each generating significant attention.

“Not surprisingly in this environment, we have been receiving daily inquiries from companies across the industry and world, from the West as well as China, and from streaming companies and various bank and non-bank lenders, inquiring about investing in these great projects. That level of interest requires that we critically examine these opportunities, which we are now doing.”

Earlier this month, Ivanhoe Mines provided an update on underground development progress of its Kakula copper mine in the DRC. The company  completed over 17km of underground development at the mine, of which 5.1km is ahead of the original schedule.

On 6 July, Ivanhoe reported that its Kamoa-Kakula project  procured a polymerize chain reaction (PCR) testing device from German company Bosch as part of its Covid-19 readiness initiatives.