Ivanhoe Minerals' subsidiary Kipushi Holdings has signed an agreement with Gecamines, a state-owned mining company in the Democratic Republic of Congo (DRC), to resume commercial production of the ultra-high grade Kipushi zinc mine.
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Ivanhoe Mines says Kipushi is probably the world's highest-grade major zinc mine, with zinc grade averaging 36.4 percent in the first five years of production.
Gecamines Chairman Alphonse Kaputo Kalubi believes Kipushi's new partnership around "Big Zinc" will be a benchmark for successfully combining expertise, resources, unique assets and a shared desire to create value for stakeholders, the country, shareholders and neighboring communities.
Kalubi says the Kipushi zinc mine, like Ivanhoe's highly successful Kamoa-Kakula copper project, has brought new standards, job opportunities, better health and education infrastructure, and the conditions for a dynamic socio-economic structure that has emerged around Kipushi.
Gecamines operates the mine for a long time and aims to optimize its contribution to the DRC's mining sector by consolidating its partnership with Ivanhoe.
Ivanhoe President Marna Cloete said, "The new agreement will enable Kipushi Holding company to develop responsibly, efficiently and rapidly into a super premium zinc producer with great potential to discover additional zinc, copper, germanium and silver resources, paving the way for the realization of its important and enduring commitment to bring economic and social benefits to the Congolese people."
