Ivanhoe Mines (TSX: IVN) said on Monday it planned to kick off exploration activities in Angola next year as it has secured rights over an area the size of Switzerland for an initial period of five years.
The Canadian miner has been granted 22,195 square kilometres of prospecting rights for exploration in the country’s Moxico and Cuando Cubango provinces, covering what Ivanhoe calls “highly prospective”, greenfield copper exploration ground. Activities are expected to commence following team mobilization in early 2024, the company said.
Ivanhoe can extend the permit to a maximum of seven years, but it will have to relinquish 50% of the prospecting rights at the end of the initial period of five years.
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