Ivanhoe Mines – Kamoa copper deposit, DRC – September 2013
On 28 September 2013 Neil Adshead visited Ivanhoe Mines’ very large, stratiform, sediment-hosted ‘Kamoa’ copper resource ~25 km west of the established copper and cobalt mining and processing center of Kolwezi, Katanga Province, DRC. Ivanhoe owns 95% of Kamoa and the 5% partner, who can acquire another 15% on commercial terms, is the DRC government. Ivanhoe made the Tier One Kamoa discovery with diamond drill hole #1 roughly five years ago and through step-out drilling it has quickly grown into one of the largest, and highest grade, undeveloped copper projects in the world. The current Indicated resource estimate, at 2% copper cut-off, is 550 Mt at 3.04% copper, which equates to 36.9 billion pounds (16.7 million tonnes) of contained copper. Kamoa is a Tier One deposit because it has size, grade, mine life and development flexibility. Ivanhoe is currently updating a Preliminary Economic Assessment and conducting further metallurgical test work. Mining permits have been granted.
The foregoing discussions are a result of site visits and are not to be construed as a recommendation, an endorsement or as investment advice. Sprott Asset Management USA, entities that it controls, family, friends, employees, associates, and others may hold positions in these securities, may recommend them to clients, and may sell the same at any time.