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Kamoa-Kakula Begins Exporting Copper Concentrate Internationally as Production Ramps Up
Kamoa Copper draws down US$300 million advance payment facility available under the offtake a...
About this update from Ivanhoe Mines Ltd. Class A
[{"type":"text","content":"Kamoa-Kakula Begins Exporting Copper Concentrate Internationally as Production Ramps UpKamoa Copper draws down US$300 million advance payment facility available under the offtake agreements; all future Phase 1 operating costs and majority of Phase 2 capital expenditures expected to be funded from copper sales and facilities in placeDaily shipments of copper concentrate to local smelter to produce 99%-pure blister copper also continuingKolwezi, Democratic Republic of Congo--(Newsfile Corp. - July 19, 2021) - Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) Co-Chairs Robert Friedland and Yufeng \"Miles\" Sun are pleased to announce that Kamoa Copper SA - the operating company of the joint venture between Ivanhoe Mines, Zijin Mining Group, Crystal River and the Government of the Democratic Republic of Congo (DRC) - has begun exporting its copper concentrate internationally. The first truckloads of copper concentrate destined for smelters outside of the DRC departed from the mine site on Saturday, July 17th, marking a significant milestone in the ongoing ramp-up of Kamoa-Kakula's Phase 1, 3.8 million-tonne-per-annum (Mtpa) concentrator plant.Kamoa-Kakula's copper concentrate for export is being transported in bags, with each bag containing approximately two tonnes of concentrate. The bags are independently weighed, sampled and sealed in the presence of representatives from the DRC's Directorate General of Customs and Excise (DGDA), then loaded onto transport trucks. Once loaded, the trucks are weighed, sealed and parked in a dedicated holding area at Kamoa-Kakula awaiting inspection and export clearance from the DGDA. The customs approval process typically takes approximately five days. Once export clearance is received, the trucks may exit the DRC and proceed on their journey to the port of Durban, South Africa.Kamoa Copper began producing copper concentrate on May 25, 2021, and made its first delivery of bulk concentrates to the nearby Lualaba Copper Smelter, outside of Kolwezi, on June 1, 2021. Since then, deliveries of bulk concentrate from Kamoa-Kakula to the Lualaba Copper Smelter have been occurring on a daily basis. The first truckloads of Kamoa-Kakula's blister copper ingots, containing approximately 99% copper, are scheduled to be exported from the Lualaba Copper Smelter to international markets this week.Kamoa Copper received all ...