Canadian mining company Ivanhoe Mines, owner of the Kamoa-Kakula copper complex in the Democratic Republic of the Congo (DRC), wants to expand its operations in Zambia. The move, already sealed with a memorandum of understanding, was approved by the Zambian Minister of Mines Paul Kabuswe. The deal allows Ivanhoe to explore and develop mineral resources, particularly copper, in several mining basins across Zambia.
“Following successful exploration or mining licence applications, Ivanhoe Mines intends to invest in exploration and project development activities following the same model of success that led to the discovery and development of the world-class Kamoa-Kakula Copper Complex in the Democratic Republic of the Congo. Leveraging our decades of experience, and by thinking outside the box, we turned what was previously believed to be an unmineralized region, into one of the world’s newest and most prolific copper production districts. We are now entering Zambia (...) where we have high conviction that new discoveries are waiting to be uncovered,” commented Ivanhoe Mines Founder and Executive Co-Chairman Robert Friedland.
On August 14, 2024, Zambian President Hakainde Hichilema announced a high-resolution airborne geophysical survey to map the country's mineral and water resources accurately. This initiative is part of a national plan to quadruple annual copper production to 3 million tonnes by 2031, which would elevate Zambia to the world's second-largest copper producer from its current position at tenth.
The Ivanhoe model, developed in the DRC with the Kamoa-Kakula deposit, has become a leading example of discovering and developing world-class copper resources. The complex has identified over 50 million tonnes of copper, with peak production expected to reach 490,000 tonnes in 2024 and increase to 600,000 tonnes in 2025 with a new processing unit.
Ivanhoe aims to boost production at Kamoa-Kakula to 800,000 tonnes annually, making it the world’s second-largest copper mine. The project helped the DRC become the fourth-biggest copper producer worldwide in 2023; it was second in 2021.
Olivier de Souza
