Ivanhoe Mines increases funding for 2024 exploration

We’ll continue to target the Forelands, based on our evolving proprietary database & models for copper discoveries, says Robert Friedland, Ivanhoe founder

Ivanhoe Mines is a leading diversified mining company focused on discovering, developing and producing the critical resources essential for a low-carbon future. With a portfolio of tier-one assets, we provide exposure to copper, zinc, nickel, palladium, platinum, rhodium and other green metals. We believe that mining, done right, with purpose, vision, and a commitment to environmental and social responsibility, will play a significant role in the world’s transition to clean energy.

The company is looking towards 2024 as a year for exploration, having quadrupled its exploration budget to US$90m for 2024.

“Firstly, we will continue to expand the Kitoko copper discovery with additional drill rigs, thereby increasing our knowledge of its substantial exploration opportunities,” shares Robert Friedland, Ivanhoe founder and co-chair.

“Second, we will advance our understanding of the Makoko and Kiala deposits and optimise our studies for near-term copper mine production on our majority-owned licences. Finally, we will continue to evaluate high-priority targets across the Forelands, based on our fast-evolving proprietary database and geologic models for additional tier-one, high-grade copper discoveries.”

Increased funding spurred by new discoveries

Ivanhoe announced last week a new discovery named Kitoko, a copper mineralisation is hosted in flat-lying siltstone of the lower Grand Conglomerate, similar to the geologic setting observed at the Kamoa, Kakula, Makoko and Kiala high-grade sedimentary copper discoveries

The Ivanhoe exploration model has thus been disrupted by the Kitoko discovery, significantly increasing the proportion of the Western Foreland that is prospective for world-class, high-grade sedimentary copper systems, Ivanhoe reports.

The company added that it is talking with potential strategic investors, including major international corporations and sovereign wealth funds, regarding fast-tracking the development of the Western Foreland.

*********************************************

For more insights into Mining - check out the latest edition of Mining Digital and be sure to follow us on LinkedIn.

Other magazines that may be of interest - Manufacturing Magazine & Construction Digital

*********************************************

BizClik is a global provider of B2B digital media platforms that cover Executive Communities for CEOs, CFOs, CMOs, Sustainability leaders, Procurement & Supply Chain leaders, Technology & AI leaders, Cyber leaders, FinTech & InsurTech leaders as well as covering industries such as Manufacturing, Mining, Energy, EV, Construction, Healthcare and Food.

BizClik – based in London, Dubai, and New York – offers services such as content creation, advertising & sponsorship solutions, webinars & events.

***********************************************

Share

Featured Articles

Exyn Nexys: a 3D Mapping Instrument for Mining Professionals

Exyn Technologies presents the Exyn Nexys - a modular 3D mapping tool for construction and mining professionals

S&P's Top 10 key themes to the 2024 energy outlook

S&P Global Commodity Insights has released its latest 2024 Energy Outlook, predicting uneven balances and OPEC+ resolve will remain key risks to markets

Super-accurate, fast ore analysis

Portable PPB and SciAps have forged a strategic R&D alliance to elevate elemental analysis for gold, silver, and copper technologies

Women under-represented on mining boards

Operations

Geothermal Engineering - UK’s first zero-carbon lithium

Sustainability

ABB and Bridon-Bekaert Ropes collaborate on mine hoists

Supply Chain & Operations