The rail corridor passes through the Western Foreland License and passes within five kilometers of the Kamoa-Kakula Copper Estate.
The distance from Kamoa-Kakula to Lobito Marine Port in Angola is about half that of Durban in South Africa, and significant improvement in logistics costs can be expected.
Other initiatives, such as the Lobito Corridor and Ivanhoe’s initiative at the Kipushi border, will transform regional logistics in the Democratic Republic of the Congo and neighboring countries.
KOLWEZI, DEMOCRATIC REPUBLIC OF THE CONGO–(Newsfile Corp. – May 24, 2023)- Ivanhoe Mine (TSX: IVN) (OTCQX: IVPAF) Executive Co-Chair Robert Friedland and President Marna Croete said in a press statement that the U.S. Government announced that during the 2023 G7 Summit in Hiroshima, Japan, the United States International Development Finance Corporation (DFC) will now fund the port-to-open-access Lobito Transatlantic Rail Corridor (Lobito Corridor) said it was conducting due diligence on a potential $250 million investment in From Lobito, Angola to the border between Angola and the Democratic Republic of the Congo.
The Transformation Economic Corridor connects Angola’s Lobito Port with the Democratic Republic of Congo’s (DRC) Copperbelt. Once fully operational, the Lobito Corridor has the potential to significantly improve the logistics costs and carbon footprint of exporting metals from the Kamoa-Kakula copper deposits and the Kipushi zinc-copper-germanium-silver mines; , the future exploitation of the copper found within that vein could also be significantly improved. Western Foreland Exploration Project.
The announcement follows the recent award of a 30-year concession with a possible 20-year extension to a consortium including Trafigura Pte Ltd., Geneva, Switzerland, and Mota-Engil, Switzerland, on the Angolan side of the Lobito Corridor. It follows. Porto, Portugal. The consortium will be responsible for the operation, management and maintenance of the rail infrastructure and rolling stock from Lobito Port to the Angola-Democratic Republic of Congo border. The deal, announced in the fourth quarter of 2022, includes a total investment of $450 million, including $166 million in infrastructure upgrades and his $70 million in vehicles. Furthermore, on January 27, 2023, the governments of Angola, the Democratic Republic of the Congo and Zambia signed the Lobito Corridor Transport Facilitation Authority Agreement (LCTTFA). The tripartite LCTTFA aims to coordinate joint development activities for the Lobito Corridor. The Lobito Corridor offers both Zambia and the Democratic Republic of the Congo an alternative strategic route to export markets that currently rely heavily on road transport for metal exports.
Link to full US government press statement: https://www.whitehouse.gov/briefing-room/statements-releases/2023/05/20/fact-sheet-partnership-for-global-infrastructor-and-investment-at-the-g7-summit/
Robert Friedland, co-executive director of Ivanhoe Mine, commented:
“The Lobito Corridor will soon become one of the most important trade routes for copper metal and other critical minerals needed for the planet’s energy transition. It underscores the need for a globally coordinated effort to upgrade infrastructure.” – Sahara Desert Africa unlocks immense potential in the region, and in the process, the Democratic Republic of the Congo and its It will generate unprecedented economic benefits for neighboring countries Angola and Zambia.
“Open rail access to Lobito’s deep water port would not have been possible without the vision and investment of our shareholders CITIC and Zijin. Our joint venture was instrumental in improving the Lobito port and railway line in 2014. Our partner Zijin is now actively involved in improving road and border infrastructure in the Democratic Republic of the Congo, from the Copperbelt to the Lobito Corridor. access and improve existing export corridors.
“International cooperation to develop responsible mineral supply chains, working with the people and communities where these mineral deposits are located, is essential if we are to meet the daunting challenge of global climate change. is.”
A freight train runs through the Lobito Corridor near the port of Lobito, Angola. Originally called the Benguela Railway, this railway corridor was first built at the turn of the 20th century.th A $1.8 billion renovation was completed in 2014. Source: Angola Ministry of Transport.
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Cargo terminal in Lobito port, Angola. Refurbished in 2014, the container and general cargo terminal has a total area of 241,540 square meters and 1,199 meters of berths with a capacity of over 600,000 tons of non-containerized cargo and 250,000 TEUs (20 foot equivalent units) . Volume of annual container cargo.
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Figure 1. Map of export routes currently in use between Kamoa and Kakula. Logistics costs account for more than 30% of Kamoa-Kakula’s total cash cost (C1) due to the long distance that exports have to travel overland to reach the port.
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Figure 2. Map of Kamoa-Kakula and Western Foreland licenses with local road and rail infrastructure.
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All figures are in US dollars unless otherwise stated.
About Ivanhoe Mine
Ivanhoe Mines is a Canadian mining company focused on advancing three major projects in Southern Africa. expansion of the Kamoa-Kakula copper complex in the Democratic Republic of the Congo; construction of a Tier 1 Platreef palladium-rhodium-platinum-nickel-copper-gold project in South Africa; And the reopening of the historic Kipushi zinc, copper, germanium, and silver mines, also located in the Democratic Republic of the Congo.
The Ivanhoe Mine is also exploring new copper discoveries spanning approximately 2,400 km.2 90-100% of the exploration licenses are held in the Western Foreland, located adjacent to or in close proximity to the Kamoa-Kakula copper property in the Democratic Republic of the Congo.
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Forward-Looking Statements
Certain statements in this news release constitute “forward-looking statements” or “forward-looking information” within the meaning of applicable securities laws. Such statements and information may cause the actual results, performance or achievements of the Company, its projects or industry performance to differ materially from any future results, performance or achievements expressed or implied. It includes known and unknown risks, uncertainties and other factors. by such forward-looking statements or information; Such statements may include “may”, “would”, “could”, “will”, “intend”, “expect”, “believe”, “plan”, ” It can be identified using words such as “expect”, “estimate”, and “”. “will”, “anticipate”, “predict” and other similar terms, or that a particular action, event or outcome “could” or “could” , “will”, “could”, or “will” or “will”. Achieved. These statements reflect our current expectations regarding future events, performance and results, and speak only as of the date of this news release.
Such statements include, but are not limited to, the timing and consequences of: (i) A statement that Lobito Seaport in Angola is about half the size of Durban in South Africa and has the potential for significant improvement in logistics costs; (ii) a statement that the Lobito Corridor could significantly improve the carbon footprint of metal exports from the Kamoa-Kakula copper deposits, the Kipushi zinc-copper-germanium-silver mines; Also mentions future development of copper discoveries within the Foreland. (iii) statements that the Lobito Corridor and other initiatives, such as the Ivanhoe initiative at the Kipushi border, will transform regional logistics in the DRC and neighboring countries, including Angola and Zambia; (iv) a statement that the Lobito Corridor will soon become one of the most important trade routes for important copper metals and other important minerals; (v) A description of future railroad spurs from Kamoa.
In addition, with respect to this specific forward-looking information regarding the operations and development of the Kamoa-Kakula Copper Area, the Kipushi Project and the Western Foreland, we base our assumptions and analyzes on certain factors that are inherently uncertain. increase. Uncertainties include: (i) Adequacy of Infrastructure. (ii) geological features; (iii) metallurgical characteristics of the mineralization; (iv) the ability to develop appropriate processing capabilities; (v) prices of copper, nickel, zinc, platinum, palladium, rhodium and gold; (vi) availability of equipment and facilities necessary to complete the development; (vii) consumables and mining and processing equipment costs; (viii) unforeseen technical and engineering problems; (ix) accidents, sabotage or acts of terrorism; (x) Currency fluctuations. (xi) Regulatory Changes. (xii) compliance with contract terms by joint venture partners; (xiii) the availability and productivity of skilled labor; (xiv) regulation of mining by various government agencies; (xv) the ability to raise sufficient funds to develop such projects; (xvi) changes in project scope or design; (xvii) recovery rate, mining rate and grade; (xviii) political factors; (xviii) water ingress into mines and their potential impact on mining operations; and (xix) power stability and availability.
Forward-looking statements and information involve significant risks and uncertainties and should not be construed as guarantees of future performance or results and do not represent whether such results will be achieved. Not necessarily an accurate indicator. Many factors could cause actual results to differ materially from those discussed in forward-looking statements or information. This includes, but is not limited to, the factors discussed above and below in the “Risk Factors” section of his MD&A for his terminated three months. March 31, 2023 and its Annual Information Forms, and elsewhere in this news release, as well as unexpected changes to laws, rules and regulations or their enforcement by applicable authorities. Failure of the parties to the contract with us to perform as agreed. Social anxiety or work anxiety. Changes in commodity prices. failure of exploration programs and studies to deliver the results expected and to justify and support continued exploration, research, development and operations;
Although the forward-looking statements contained in this news release are based on what our management believes to be reasonable assumptions, we do not expect our actual results to be consistent with these forward-looking statements. We cannot guarantee investors. These forward-looking statements are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, we undertake no obligation to update or revise any forward-looking statements contained herein to reflect events or circumstances after the date of this news release.
Our actual results may vary as a result of the factors outlined in the Risk Factors section and elsewhere in our MD&A and Annual Reports for the three months ended March 31, 2023 and may not be consistent with these forward-looking statements. It may differ materially from what is expected in the description. shape.
To view the source version of this press release, please visit: https://www.newsfilecorp.com/release/167266
