On care and maintenance since 1993, Ivanhoe says Kipushi will be one of the highest-grade zinc mines on the planet
Ivanhoe Mines announced on Feb. 14 that it has signed an agreement with Gécamines, the Democratic Republic of Congo’s state-owned mining company, to bring the Kipushi zinc mine back to production.
The mine, according to Ivanhoe, will be one of the highest-grade major zinc mines in the world. A 2022 feasibility study released by the company shows measured and indicated resources of 9.2 billion pounds of zinc from 11.78 million tonnes grading at 35.34 per cent, an after-tax net present value of US$941 million at an eight per cent discount rate based on a long-term zinc price of US$1.20 per pound and a mine life of 14 years.
Since its beginning as an open-pit mine in 1924, Kipushi has been a significant producer of copper, zinc, germanium and precious metals. In 1967, Gécamines took over the mine and operated it until 1993. According to the Office of the United Nations High Commissioner for Human Rights, the mine was shut down when political unrest and reported attacks against Kasaian civilians working at Gécamines prevented them from accessing facilities.
Kipushi has since been under care and maintenance, but progress has been made to modernize the mine to meet global industry and safety standards.
For the rest of this article: https://magazine.cim.org/en/news/2022/ivanhoe-mines-announces-rebirth-of-kipushi-mine-en/