Canada-based Ivanhoe Mines’ Kamoa-Kakula Copper project in southern African to be completed ahead of schedule despite the COVID-19 pandemic.
The company stated that despite being in a global uncertain period, the company has strong financial position and identifies cost-reduction initiatives to generate cash savings. All the generated cash will be directed towards Kakula Copper Mine’s commercial production.
The mine is located at DRC (Democratic Republic of Congo) and is in the first phase of development. The mine has 8pc of average copper grade. Each blast produces 550mt of ore. Total production of high-grade ore is expected to reach 1.5mn mt before actual production begins.
Currently, 13.5km is completed and it is 4.2kms ahead of the scheduled plan. In February 2019, Kakula pre-feasibility study projected an average feed grade of over the first five years of operations to be 6.8pc copper, and 5.5pc copper on average over a 25-year mine life.