Facebook Bankable LinkedIn Bankable
Twitter Bankable WhatsApp Bankable
Bankable
Bankable

MOST READ

African Economies

Kamoa-Kakula: Ivanhoe Mines Could Start Importing Power from Angola by 2030

Kamoa-Kakula: Ivanhoe Mines Could Start Importing Power from Angola by 2030

Ivanhoe Mines is considering importing hydropower from Angola to ensure optimal operations at the Kamoa-Kakula copper complex in the Democratic Republic of Congo (DRC). The Canadian company operates the complex and is one of its shareholders (39.6%), alongside Zijin Mining Group (39.6%), Crystal River (0.8%), and the Congolese state (20%).

Ivanhoe claims it could start importing the electricity by 2030, via a 2,000 MW high-voltage transmission line. The facility, yet to be built, would transport power from northern Angola to the Copperbelt in the DRC and Zambia. 

The project is being developed by Trafigura and ProMarks, which signed a Memorandum of Understanding with the Angolan government in July 2024 to study the project's technical and economic viability. The developers plan to form a joint venture to develop, finance, build, and run the line.

"The project should be financed through a combination of equity and debt. Planning, approvals and construction would take approximately four years after the final investment decision," Ivanhoe Mines indicated.

According to the Canadian operator, the Kamoa-Kakula complex requires about 240 MW to operate at full capacity (phase I, II, III, and the smelter). However, it currently uses 90 MW of domestic and imported hydroelectricity and has 160 MW of backup capacity from diesel generators. Due to insufficient electricity, the company is considering postponing the launch of the complex’s new copper smelter by three months. The smelter was initially set to start operations in March 2025. 

Ivanhoe Mines has been seeking to tackle the issue by increasing its supply capacity, focusing on green electricity, which is cheaper and less polluting. It is also looking for internal and external solutions. 

For example, the company counts on the fifth turbine of the 178 MW Inga II hydropower station, which should be commissioned in the second quarter of this year. According to Ivanhoe, “Kamoa-Kakula should initially be allocated an additional 70 MW of hydroelectricity from the grid over this period, with a gradual increase to 178 MW as grid improvement initiatives are completed.”

In the medium term, Ivanhoe Mines plans to boost electricity imports from Angola, which has significant unused hydroelectric power capacity. The African Development Bank (AfDB) notes that Angola currently has 1.5 GW of clean, unused hydroelectric power, expected to reach 3.5 GW by 2027. Besides, Sun Africa is building a 700 MW solar farm in Angola, using funds provided by the Export-Import Bank of the United States (EximBank).

The US plans to partner with Angola's National Electricity Transmission Company to develop cross-border and local transmission lines, further integrating Angola into regional power pools. The lines should also supply power to the Lobito corridor

This article was initially published in French by Aboudi Ottou

Edited in English by Ola Schad Akinocho

Subscribe to our newsletter (free)

Receive daily news and analyses from the Bankable editorial team.

 
 
cameroonian-economist-albert-zeufack-confirms-ambition-to-head-afdb-after-adesina
For months, Albert Zeufack has emerged as a potential candidate to head the African Development Bank (AfDB). However, he remained publicly silent in this...
inspiring-fifty-africa-awards-2024-trish-kalombola-among-top-50-women-in-african-tech
Trish Kalombola, President and CEO of TowerCo of Africa (TOA) DRC, is among the winners of the Inspiring Fifty Africa Awards 2024. She has been recognized...
drc-expected-in-early-2025-tradex-appoints-philipp-attang-as-managing-director-of-local-unit
Tradex, a subsidiary of Cameroon’s National Hydrocarbons Corporation (SNH), will enter the Democratic Republic of Congo (DRC) in early 2025. The...
bgfibank-drc-unit-operates-fine-says-group-ceo-henri-oyima
In an exclusive interview with Business in Cameroon (BIC), Henri-Claude Oyima, CEO of BGFIBank Group, discussed how the lender’s subsidiary in the...

African Economies

MOST READ

Please publish modules in offcanvas position.