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Ivanhoe Mines Announces MOU to Commence Exports of Concentrate from Kamoa-Kakula Copper Complex via Lobito Atlantic Rail Corridor
Up to 10,000 tonnes of copper concentrate to be exported via Angolan Lobito Ocean Port in Q4 2023...
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[{"type":"text","content":"Ivanhoe Mines Announces MOU to Commence Exports of Concentrate from Kamoa-Kakula Copper Complex via Lobito Atlantic Rail CorridorUp to 10,000 tonnes of copper concentrate to be exported via Angolan Lobito Ocean Port in Q4 2023MOU is first commercial agreement under new concession for exporting metals from the DRC using the Lobito Atlantic Rail CorridorDistance from Kamoa-Kakula to Lobito Port is just over half that compared with Durban, South AfricaRail corridor passes through Ivanhoe's Western Foreland licences and within five kilometres of Kamoa-KakulaRail corridor set to transform economic and social development of the DRC, as well as its neighbouring countries, accelerating regional industrializationThe ceremony celebrating the award of the 30-year concession to new rail operator was attended by the Presidents of DRC, Angola and ZambiaKolwezi, Democratic Republic of Congo--(Newsfile Corp. - August 16, 2023) - Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) Executive Co-Chair Robert Friedland and President Marna Cloete announce today that Kamoa Copper S.A. (Kamoa Copper) has signed a memorandum of understanding (MOU) with Lobito Atlantic International SARL (\"LAI\", or the \"Consortium\"), for the transportation of Kamoa-Kakula's copper concentrate by rail to the Atlantic Ocean port of Lobito in Angola. The rail line linking the DRC Copperbelt to the port of Lobito, Angola is known as the \"Lobito Atlantic Railway Corridor\" or \"Lobito Corridor\". The rail line extends for 1,739 kilometres from Lobito to Kolwezi in the DRC, passing within five kilometres of the Kamoa-Kakula licence boundary and through the Western Foreland exploration licences (shown in Figure 2).In July 2022, the Consortium was formally awarded a 30-year concession for railway services and support logistics in Angola. LAI is a consortium comprised of leading global commodities trading group Trafigura Pte Ltd; Mota-Engil Engenharia e Construcao Africa SA (\"Mota-Engil\"), an international construction and infrastructure management company that first started operating in Angola in 1946; and Vecturis SA, an independent rail operator. The Consortium has committed to invest $455 million in Angola and up to a further $100 million in the DRC on the improvement of the Lobito Corridor's rail infrastructure, capacity and safety, including rolling stock consisting of over 1,5...