Ivanhoe and China’s CNMC to work together in Africa
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This strategic partnership foresees joint activities in production, smelting and logistics.
Both companies are already active in Africa. Ivanhoe is currently developing the Kamoa-Kakula project, also in the Democratic Republic of Congo, as well as the Platreef project in Limpopo, South Africa.
CNMC launched Congo’s first large-scale copper smelter in January, the Lualaba smelter, which is located 45km from Ivanhoe’s Kamoa-Kakula project. CNMC is also the majority owner of the Deziwa copper and cobalt mine, which is a joint venture with the country’s state mining company Gécamines.
Robert Friedland, the co-chairman of Ivanhoe Mines, commented on the new agreement: “Our long-standing relationship with CNMC goes back decades to when Wu Jianchang was the general manager of China National Nonferrous Metals Industry Corporation − a pioneer industrial group specialising in the mining and metallurgy sector.
“Our good friends at CNMC are aware of the enormous challenges of discovering and building a new world-scale copper, nickel, zinc, or platinum-group metals mine”.
Wang Tongzhou, the chairman of CNMC, commented: “I strongly believe that cooperation is the best way to achieving the goals of both companies”.