Canada’s Ivanhoe Mines has announced it secured an additional C$67 million ($49 million) to advance its two copper mine projects in the Democratic Republic of Congo, “Kakula and Kipushi ─ to commercial production, and significantly advance, or achieve, production at the Platreef Project” in the Republic of South Africa.
The funds were secured from China’s Zijin Mining Group which serves as Ivanhoe Mines’ joint venture partner at the Kamoa-Kakula copper project, the Canadian business said in a statement.
Ivanhoe Mines says it is focused on advancing its three main projects in Africa: the development of new mines at the Kamoa-Kakula copper discoveries in the DRC, the redevelopment and upgrading of the Kipushi zinc-copper-germanium-silver mine in the DRC, and the Platreef palladium-platinum-nickel-copper-gold discovery in the RSA.