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Ivanhoe Mines and China Nonferrous Metal Mining Group Sign Strategic Partnership Agreement to Explore Cooperation Opportunities in Africa
Beijing, China--(Newsfile Corp. - August 18, 2020) - Robert Friedland and Yufeng "Miles" Sun, ...
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[{"type":"text","content":"Ivanhoe Mines and China Nonferrous Metal Mining Group Sign Strategic Partnership Agreement to Explore Cooperation Opportunities in AfricaIvanhoe gains a formidable partner in its push to become a leading supplier of critical materials for the renewable energy revolutionBeijing, China--(Newsfile Corp. - August 18, 2020) - Robert Friedland and Yufeng \"Miles\" Sun, Co-Chairmen of Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF), announced today that the company has entered into a strategic partnership agreement with China Nonferrous Metal Mining (Group) Co., Ltd. (CNMC), one of China's leading mining companies, to jointly examine exploration, development and acquisition of mineral projects, as well as production, smelting and logistics opportunities, on the African continent.CNMC, headquartered in Beijing China, is a world leader in the development of nonferrous metal projects; with exploration, construction and engineering, mining, smelting and logistical operations spanning more than 80 countries and covering more than 40 nonferrous metals, including copper, nickel, cobalt, gold, silver, tantalum, niobium, beryllium, zinc and lead.More than 20 years ago, China Nonferrous Metal Industry's Foreign Engineering and Construction Corp., the predecessor of CNMC, made the first international acquisition by a Chinese mining company with the purchase of the Chambishi Copper Mine in Zambia; an investment that was facilitated by Mr. Friedland. CNMC's continued development of the project led to the commencement of operations at the Chambishi Copper Smelter in 2009. Copper production from the Chambishi South East Ore Body began in 2018. Among CNMC's diverse portfolio of projects is the Lualaba copper smelter near the city of Kolwezi in the Democratic Republic of Congo (DRC), which began commercial operations earlier this year. Lualaba is the first modern, large, pyro-metallurgical copper smelter built in DRC, and is approximately 45 kilometres from Ivanhoe Mines' Kamoa-Kakula copper joint venture. A new, dedicated highway directly connects Kamoa-Kakula and Kolwezi. CNMC also recently began operations at the Deziwa Copper-Cobalt Mine, a joint-venture with Gécamines − the DRC's state mining company. Deziwa is approximately 35 kilometres east of Kolwezi.\"Our long-standing relationship with CNMC goes back decades to when Wu Jianchang was the ...