KOLWEZI, DEMOCRATIC REPUBLIC OF CONGO – Robert Friedland and Yufeng “Miles” Sun, Co-Chairmen of Ivanhoe Mines (TSX: IVN; OTCQX: IVPAF), announced today thatexcellent progress is being made advancing underground mine development at the Kakula Mine in the Democratic Republic of Congo (DRC), with current mining grades of up to 11% copper in one of the access drives being advanced from the northern decline.
Kakula’s northern and southern dual access drives are expected to be connected (the mining term is “holing”) next month, allowing highly-productive mining (stoping) operations to begin in high-grade zones. Approximately 260 metres of tunneling remains until the access drives are connected (see figures 1 and 2).
“Development of the dual access drives from Kakula’s northern decline has entered a zone of chalcocite-rich ore grading up to 11% copper over a height of 6.6 metres,” said Mr. Friedland. “These copper grades are extraordinary in a global context, but are not unexpected. They are real-time confirmation of the exceptional quality of the Kakula resource, which sits at the apex of any ranking worldwide.”
In addition, access drift 1 from Kakula’s southern decline has moved from the medium-grade ore zone (+5 copper) into the high-grade ore zone, and currently is traversing the +8% copper zone as it approaches the “holing” position in the centre of the deposit. Access drift 2 from Kakula’s southern decline currently is traversing the +5% copper zone and is expected to quickly enter the +8% copper zone (see figures 1 and 2).
“We are looking forward to achieving our first “holing” between the northern and southern declines,” said Mr. Friedland. “It will open up important high-grade copper reserves, and enable ventilation to flow through dedicated underground airways, which have been developed between Kakula’s northern and southern declines. This marriage between Kakula’s northern and southern declines will facilitate the ramp up in production and dramatically increase the efficiency of our underground logistics, and further improve safety.”
Figure 1: Underground development completed to October 18, 2020 (in black) and scheduled development (green, brown, purple) to November 30, 2020. Also shown are the +3%, +5% and +8% copper contours and the location where the northern and southern access drives are scheduled to join in November (red circle).
Figure 2: Kakula’s underground development completed to October 18, 2020 (in red). The black star shows where the northern and southern access drives are scheduled to join in November.
A Niton (portable XRF) reading on the tip of a chalcocite-rich piece of ore grading 67.8% copper from Kakula’s northern access drive spiral. Grey-colored chalcocite has the greatest percentage of copper of all the common sulphide-copper-bearing minerals ─ almost 80% copper by weight.
Mine geologist Micheline Kyenge examines the chalcocite-rich face in Kakula’s northern access drive spiral. The prevalence of the grey-coloured chalcocite accounts for the ultra-high-copper grades recently encountered.
Excellent construction progress being made on Kakula’s concentrator plant; first production now expected in July 2021, at the beginning of Q3 2021 guidance
Steve Amos, Kamoa Copper’s Head of Projects, stated: “The updated project schedule for the initial 3.8 million-tonne-per-annum (Mtpa) concentrator plant indicates that first ore now is expected at the beginning of our Q3 2021 planned window. There has been an enormous effort by the project and construction teams to not only maintain the milestone dates with the challenges presented by the pandemic, but to place ourselves in a position to commission early. We are delighted with the progress made to date.”
“It will be enormously beneficial if we can commission early,” said Rochelle De Villiers, Kamoa Copper’s Co-CFO. “We look forward to generating revenue as early as possible, which will allow us to advance the project’s Phase 2 development with internal cash flow. The long-lead items for the second 3.8 Mtpa concentrator plant have been ordered and the second phase of our development now is officially underway.”
Mark Farren, CEO of Kamoa Copper said: “We will leverage what we have learned thus far into Phase 2 construction, and expand the project at a sustainable rate that minimizes peak funding. Phases 1 and 2 combined are expected to produce approximately 400,000 tonnes of copper per year.”
“Our engineers are already planning the steps necessary to implement phases 3, 4 and 5, which would expand the project’s production rate to at least 19 million tonnes of ore a year.”
“We currently have more than 6,000 people on site, most of whom are employed by sub-contractors for the construction of the mining infrastructure and concentrator. This will transition gradually as we move into production. We expect to employ close to 2,000 permanent Kamoa Copper employees once both concentrator plants are operating and the first two mines are producing at a steady state of 7.6 million tonnes of ore a year.”
“We have a talented, young Congolese workforce who are eager to learn and grow as we develop this mine into a world-class operation. The once-in-a-century metamorphosis from a giant, greenfields discovery into a successful world-leading mining operation is inherently challenging; however, our people have the special blend of experience and commitment to do it successfully,” Mr. Farren added.
The two, 7-megawatt ball mills at Kakula’s initial 3.8 Mtpa processing plant, with the girth gears now installed. A 3D illustration of the finished ball mills (shown in green) is below, with the next two ball mills for the recently-initiated second processing plant shown in magenta.
Ongoing construction of Kakula’s initial 3.8 Mtpa processing plant, showing the assembled ball mills and the first four flotation tanks.
Kapenda Mutombo pours concrete at Kakula’s copper concentrate storage area.
Deli Mamadou installing Kakula’s tailings pipeline. Approximately one half of the mine's tailings will be sent back underground to fill mined-out voids, significantly reducing the surface tailings storage.
Yannick Kankenke (left) and Tresor Mukadi (right) servicing an Epiroc double boom drill rig at the Kakula workshop.
Kamoa-Kakula expected to be connected to the national power grid in December, providing the project with clean, renewable 220-kV hydropower
Ben Munanga, General Manager of Ivanhoe Mines Energy and a senior member of the executive management team at Kamoa Copper, stated: “We have made excellent progress upgrading the Mwadingusha hydroelectric power station and at the new Western Dispatch substation in Kolwezi. In December, we expect to tie in the 30-kilometre, 220-kilovolt (kV) power line connecting this substation to Kamoa-Kakula, and supply the mine with reliable and clean hydro-generated electricity from the national grid.”
The upgrading work at the 72-megawatt Mwadingusha hydropower plant is nearing completion and electricity from all of Mwadingusha’s six turbines is expected to be integrated into the national power grid in the first quarter of 2021. The work is being conducted by engineering firm Stucky, of Lausanne, Switzerland, under the direction of Ivanhoe Mines and its joint-venture partner, Zijin Mining Group, in conjunction with the DRC’s state-owned power company, La Société Nationale d’Electricité (SNEL).
“A long-term, sustainable supply of electricity is essential to Ivanhoe’s vision to develop Kamoa-Kakula in an environmentally and socially responsible manner,” said Mr. Friedland. “Hydropower is the cleanest energy solution for Kamoa-Kakula and will ensure the project will be among the world’s lowest greenhouse gas emitters per unit of copper produced.”
Mr. Friedland also said that a recent, independent audit of Kamoa-Kakula’s greenhouse gas intensity metrics performed by Hatch Ltd., of Mississauga, Canada, a leading, international environmental consulting firm, confirmed that Kamoa-Kakula will be among the world’s lowest greenhouse gas emitters per unit of copper produced, validating the project’s commitment to be a leader in environmentally-responsible copper mining. In addition, approximately one half of the mine’s tailings will be mixed with cement and pumped back underground to fill mined-out voids, resulting in a surface tailings containment facility that is tiny compared to other major mines.
Tresor Kalenga Musoya (top), Liang Yang (middle) and Chanzhong Yang (bottom) installing the 220-kV power line that will transport clean, renewable hydropower from the DRC national grid to the Kamoa-Kakula Project.
Contract workers from Andritz Hydro of Vevey, Switzerland, upgrading the penstocks and emergency intake valves at theMwadingusha hydropower plant.
Kamoa-Kakula’s October monthly mine progress update to be issued in early November
Ivanhoe plans to issue its regular Kamoa-Kakula monthly mine progress update for the month of October in early November, which will provide details on the project’s underground development advancement, tonnage and grade of the project’s pre-production ore stockpiles, and construction progress of the initial 3.8 Mtpa concentrator plant and associated infrastructure.
Disclosures of a scientific or technical nature regarding development at the Kamoa-Kakula Project in this news release have been reviewed and approved by Steve Amos, who is considered, by virtue of his education, experience and professional association, a Qualified Person under the terms of National Instrument 43-101 (NI 43-101). Mr. Amos is not considered independent under NI 43-101 as he is Kamoa Copper’s Head of Projects.. Mr. Amos has verified the technical data disclosed in this news release.
Other disclosures of a scientific or technical nature in this news release have been reviewed and approved by Stephen Torr, who is considered, by virtue of his education, experience and professional association, a Qualified Person under the terms of NI 43-101. Mr. Torr is not considered independent under NI 43-101 as he is the Vice President, Project Geology and Evaluation of Ivanhoe Mines. Mr. Torr has verified the other technical data disclosed in this news release.
The development grade estimates contained in this release are based upon channel sampling from underground headings. Sampling is done on one-metre increments across a full vertical profile approximately every 15 metres, with six to seven 150-gram samples taken. The samples are pulverized at the project’s onsite laboratory and analyzed used using a portable XRF (pXRF) instrument. Kamoa Copper has routinely analyzed its exploration drill core for copper using pXRF, in addition to analysis at a commercial laboratory using four acid digest and ICP-OES. This data has demonstrated that pXRF results can be relied upon for grade control and run-of-mine sampling.
Ivanhoe has prepared an independent, NI 43-101-compliant technical report for the Kamoa-Kakula Project, which is available on the company’s website and under the company’s SEDAR profile at www.sedar.com:
- The Kamoa-Kakula 2020 Resource Update dated March 25, 2020, prepared by OreWin Pty Ltd., Wood plc, DRA Global, SRK Consulting (South Africa) (Pty) Ltd and Stantec Consulting International LLC.
The technical report includes relevant information regarding the assumptions, parameters and methods of the mineral resource estimates on the Kamoa-Kakula Project cited in this news release, as well as information regarding data verification, exploration procedures and other matters relevant to the scientific and technical disclosure contained in this news release.
As announced in Ivanhoe Mines’ September 8, 2020, news release, an updated independent, NI 43-101-compliant technical report for the Kamoa-Kakula Project is being prepared and will be issued later this month.
Investors: Bill Trenaman +1.604.331.9834 / Media: Matthew Keevil +1.604.558.1034
Certain statements in this release constitute “forward-looking statements” or “forward-looking information” within the meaning of applicable securities laws. Such statements and information involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company, its projects, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as “may”, “would”, “could”, “will”, “intend”, “expect”, “believe”, “plan”, “anticipate”, “estimate”, “scheduled”, “forecast”, “predict” and other similar terminology, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. These statements reflect the company’s current expectations regarding future events, performance and results and speak only as of the date of this release.
Such statements include without limitation, the timing and results of: (i) statements regarding the northern and southern access drives at Kakula are expected to be joined in November 2020; (ii) statements regarding first production at the Kakula Mine is scheduled for July 2021; (iii) statements regarding the Kakula Mine will be powered by clean, renewable hydroelectricity and be among the world's lowest greenhouse gas emitters per unit of copper produced; (iv) statements regarding Kakula will have a relatively tiny surface footprint as approximately one half of the mine’s tailings will be pumped back into underground workings; (v) statements regarding the Kakula Mine is scheduled to be connected to the national grid with 220 kV hydro-generated power in December 2020; and (vi) statements regarding the implementation of Kamoa-Kakula phases 3, 4 and 5, would expand the project’s production rate to at least 19 million tonnes of ore a year; and (vii) statements regarding the Kamoa-Kakula monthly mine progress update is expected in early November
As well, all of the results of the pre-feasibility study for the Kakula copper mine and the updated and expanded Kamoa-Kakula Project preliminary economic assessment constitute forward-looking statements or information, and include future estimates of internal rates of return, net present value, future production, estimates of cash cost, proposed mining plans and methods, mine life estimates, cash flow forecasts, metal recoveries, estimates of capital and operating costs and the size and timing of phased development of the projects. Furthermore, with respect to this specific forward-looking information concerning the development of the Kamoa-Kakula Project, the company has based its assumptions and analysis on certain factors that are inherently uncertain. Uncertainties include: (i) the adequacy of infrastructure; (ii) geological characteristics; (iii) metallurgical characteristics of the mineralization; (iv) the ability to develop adequate processing capacity; (v) the price of copper; (vi) the availability of equipment and facilities necessary to complete development; (vii) the cost of consumables and mining and processing equipment; (viii) unforeseen technological and engineering problems; (ix) accidents or acts of sabotage or terrorism; (x) currency fluctuations; (xi) changes in regulations; (xii) the compliance by joint venture partners with terms of agreements; (xiii) the availability and productivity of skilled labour; (xiv) the regulation of the mining industry by various governmental agencies; (xv) the ability to raise sufficient capital to develop such projects; (xiv) changes in project scope or design; and (xv) political factors.
Forward-looking statements and information involve significant risks and uncertainties, should not be read as guarantees of future performance or results and will not necessarily be accurate indicators of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements or information, including, but not limited to, the factors discussed below and under “Risk Factors”, and elsewhere in this release, as well as unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of parties to contracts with the company to perform as agreed; social or labour unrest; changes in commodity prices; and the failure of exploration programs or studies to deliver anticipated results or results that would justify and support continued exploration, studies, development or operations.
Although the forward-looking statements contained in this release are based upon what management of the company believes are reasonable assumptions, the company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this release.
The company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of the factors set forth below in the “Risk Factors” section in the company’s Q2 2020 MD&A and its current annual information form.
剛果民主共和國科盧韋齊 — 艾芬豪礦業 (TSX: IVN; OTCQX:IVPAF) 聯席董事長羅伯特·弗里蘭德 (Robert Friedland) 與孫玉峰 (Miles Sun) 今天宣布，其位于剛果民主共和國 (以下簡稱“剛果”)卡庫拉礦山的地下開發持續快速推進，其中一條從北面斜坡道掘進的運輸通道，目前已到達銅品位高達11%的區域。
卡庫拉南北兩條運輸通道的連接 (礦業術語稱為“貫通”) 預計將于下個月完成，將可在高品位的礦段展開采掘作業。目前，距離兩條運輸通道貫通大約還剩余260米(見圖1和2)。
卡莫阿銅業項目負責人史蒂夫·阿莫斯 (Steve Amos) 表示﹕“年處理礦量380萬噸初始選礦廠的項目時間表提前，首批礦石生產將于2021年第三季度初實現。項目和施工團隊付出了巨大的努力，克服了疫情期間帶來的種種挑戰，如期實現項目的各個里程碑，現已作好提前實現投產的準備。我們十分高興，項目迄今為止取得的理想進展?！?
卡莫阿銅業聯席首席財務官羅謝爾·德維利耶 (Rochelle De Villiers) 說：“提前投產將為項目帶來巨大的收益。我們希望可以盡快產生收入，使我們能夠利用內部現金流推進項目第二序列的開發。目前，我們已為第二座380萬噸/年選礦廠的長周期設備下訂單，并已正式開始第二序列的開發工作?！?/strong>
卡莫阿銅業首席執行官馬克·法倫 (Mark Farren) 說﹕“我們將汲取過往的經驗并將其運用在第二序列的建設上，以可持續增長的速度進行項目擴產，同時盡量減少最大投資額。預計第一和第二序列總共每年將會生產40萬噸的銅金屬?！?
艾芬豪礦業能源總經理本·穆南加(Ben Munanga) 與卡莫阿銅業高管團隊的一名資深成員表示：“我們在Mwadingusha水電廠和位于科盧韋齊新的西部調度(Western Dispatch) 變電站的改善工程進展十分理想。西部調度變電站連接的一條30公里長的220千伏電力線，預計將于12月與卡莫阿-卡庫拉通電，從國家電網向礦山提供可靠和清潔的水電能源。
Mwadingusha 72兆瓦水電廠的改善工程即將完成，Mwadingusha全部6臺渦輪機預計于2021年第一季度將會向國家電網提供電力供給。工程由瑞士雷恩斯的Stucky工程公司在艾芬豪礦業及其合資伙伴紫金礦業集團的指導下，與剛果國有電力公司 La Société Nationale d’Electricité (以下簡稱 “SNEL”) 合作施工。
本新聞稿中關于卡莫阿-卡庫拉項目的科學或技術性披露已經由史蒂夫·阿莫斯審查和批準，他憑借其教育、經驗和專業協會會籍被認為是NI 43-101 標準下的合資格人士。由于阿莫斯先生是卡莫阿銅業的項目負責人，因此他并不符合NI 43-101 對獨立人士的界定。阿莫斯先生已核實本新聞稿所披露的技術數據。
本新聞稿中的其它科學或技術性披露已經由 Stephen Torr 審查和批準，他憑借其教育、經驗和專業協會會籍被認為是 NI 43-101 條款下的合資格人士。由于 Torr 先生是艾芬豪礦業項目地質和評估副總裁，因此他并不符合NI 43-101 對獨立人士的界定。 Torr 先生已核實本新聞稿所披露的其它技術數據。
本新聞稿所載的開發品位估算值是基于從地下巷道的刻槽取樣，大約每15米在整個垂直剖面上按1米增量進行采樣，并收集6至7個150克重的樣品。樣品在項目現場實驗室粉碎后，使用便攜式XRF (pXRF) 儀器進行分析。除了在商業實驗室利用4種酸分解液和ICP-OES進行分析之外，卡莫阿銅業也經常使用pXRF分析其鉆孔巖芯中的銅含量。該數據表明，pXRF結果可用于品位控制和采礦井取樣。
艾芬豪已經為卡莫阿-卡庫拉項目編制了一份符合NI 43-101 標準的獨立技術報告，該報告可在艾芬豪網站以及SEDAR 網站上的艾芬豪頁面獲得，網址為www.sedar.com：
- 2020年3月25日發布的2020年卡莫阿-卡庫拉資源更新，由OreWin Pty Ltd.、Wood plc、DRA Global、SRK Consulting (South Africa) (Pty) Ltd 和Stantec Consulting International LLC編制。
投資者﹕Bill Trenaman +1.604.331.9834 / 媒體﹕Matthew Keevil +1.604.558.1034
該等陳述包括但不限于下列事項的時間點和結果﹕(i) 關于卡庫拉南北兩條運輸通道預計于2020年11月連接完成的陳述；(ii) 關于卡庫拉礦山計劃于2021年7月實現首產的陳述；(iii) 關于卡庫拉礦山將會使用清潔、可再生的水電，并將成為全球每單位銅溫室氣體排放量最低的礦山之一的陳述；(iv) 關于卡庫拉礦山約一半的尾礦將被泵送回地下，地表足跡因此相對較小的陳述；(v) 關于卡庫拉礦山計劃于2020年12月連接國家電網220千伏水電的陳述；(vi) 關于卡莫阿-卡庫拉實現第三、第四和第五序列，將會提升項目的生產率至每年1,900萬噸礦石以上的陳述；以及 (vii) 關于卡莫阿-卡庫拉的最新月度采掘進度預計于11月初公布的陳述。
此外，卡庫拉銅礦預可行性研究的所有結果以及更新和擴展的卡莫阿-卡庫拉項目初步經濟評估，構成了前瞻性陳述或信息，并包括內部收益率的未來估算、凈現值，未來產量、現金成本估算、建議采礦方案和方法、礦山壽命估計、現金流預測、金屬回收率、資本和運營成本估算，以及項目分期開發的規模和時間點。另外，對于與卡莫阿-卡庫拉項目開發有關的特定前瞻性信息，公司是基于某些不確定因素而作出假設和分析。不確定因素包括：(i) 基礎設施的充足性；(ii) 地質特征；(iii) 礦化的冶金特征；(iv) 發展充足選礦產能的能力；(v) 銅價格；(vi) 完成開發所需的設備和設施的可用性；(vii) 消耗品和采礦及選礦設備的費用；(viii) 不可預見的技術和工程問題；(ix) 事故或破壞或恐怖主義行為；(x) 貨幣波動； (xi) 法例修訂；(xii) 合資伙伴對協議條款的遵守情況；(xiii) 熟練勞工的人手和生產率；(xiv) 各政府機構對礦業的監管；(xv) 籌集足夠資金以發展該等項目的能力；(xiv) 項目范圍或設計更變；以及 (xv) 政治因素。