Ivanhoe Mines has reached a partnership agreement with China Nonferrous Metal Mining (CNMC) to jointly examine exploration, development and acquisition of mineral projects, along with production, smelting and logistics opportunities in the continent of Africa.
China-based nonferrous metal projects developer CNMC is engaged in exploration, construction and engineering, mining, smelting and logistical operations across more than 80 countries.
The company covers more than 40 nonferrous metals, including copper, nickel, cobalt, gold, silver, tantalum, niobium, beryllium, zinc and lead.
CNMC chairman Wang Tongzhou said: “CNMC is striving to become a world-class mining company, and Ivanhoe, one of the world’s best and fastest-growing mining companies – is an excellent role model for us to learn from. I strongly believe that cooperation is the best way to achieving the goals of both companies.”
“In these challenging times, the need to work together is more pressing than ever. Building on the opportunities created by this agreement and championing the mutually beneficial alliance, I believe that the core projects of each of our companies will soon be realized. I also believe that this agreement will create new opportunities for cooperation, so that more projects can be successfully implemented in the future.”
CNMC has recently started operations at the Deziwa Copper-Cobalt Mine
CNMC’s predecessor China Nonferrous Metal Industry’s Foreign Engineering and Construction has purchased Chambishi Copper Mine in Zambia, around 20 years ago, which marks the first international acquisition by a Chinese mining company.
The company has constantly developed the project and started operations at the Chambishi Copper Smelter in 2009, while copper production from the Chambishi South East Ore Body started in 2018.
Lualaba, a modern, large, pyro-metallurgical copper smelter located near the city of Kolwezi, in the Democratic Republic of Congo (DRC) is one among the CNMC’s varied portfolio of projects, which started commercial operations in early 2020.
Also, CNMC has recently begun operations at the Deziwa Copper-Cobalt Mine, a joint-venture with Gécamines, the DRC’s state mining company, located around 35kms east of Kolwezi.
Ivanhoe Mines president Marna Cloete said: “The team at Kamoa-Kakula has done a stellar job of keeping the development of the Kakula Copper Mine ahead of schedule, and we are confident in the team’s ability to successfully complete the remaining phases of construction and commissioning, and bring Kakula into production less than a year from now.
“It is a great time to be partnering with CNMC; an internationally-respected miner that has an established track record of notable achievements in Africa and is familiar with our various stakeholders from Africa and China. We look forward to a long and prosperous relationship with CNMC that allows both companies to create value for all of our respective stakeholders.”
