KOLWEZI, DEMOCRATIC REPUBLIC OF CONGOIvanhoe Mines (TSX: IVN; OTCQX:IVPAF) Co-Chairs Robert Friedland and Yufeng “Miles” Sun announced today that underground development at the Kakula Copper Mine continues to advance ahead of schedule and that more than 13.5 kilometres of underground development is now completed, which is 4.2 kilometres ahead of plan. This month, the mining team is on pace to set a new monthly development record of 1.7 kilometres of advancement ─ 562 metres ahead of plan for the month.

While Ivanhoe Mines is in a strong financial position going into this period of global uncertainty with cash and cash equivalents of US$603 million at the end of March and no significant debt, the company has identified several cost-reduction initiatives to generate cash savings of up to US$75 million through 2021. The savings will be generated through reducing discretionary spending at the company’s projects, lowering general and administrative costs and corporate overheads, voluntary salary reduction for senior management and deferral of certain exploration activities previously planned for 2020 and will be fully directed towards developing the company’s flagship Kakula Copper Mine to commercial production on schedule and on budget.

Kamoa-Kakula Project progress update

At the Kamoa-Kakula Project in the Democratic Republic of Congo (DRC), the first phase of development at the Kakula Copper Mine is in many respects exceeding the published plans. Crews now are mining and stockpiling development ore with an average grade greater than 8% copper. Almost all the underground development is in ore and, as a result, each blast in Kakula’s high-grade mining zone produces approximately 550 tonnes of ore, which is transported to a dedicated, high-grade pre-production surface stockpile. Kakula’s high-grade ore stockpile is expected to total approximately 1.5 million tonnes prior to the start of initial production.

Underground development at Kakula is 4.2 kilometres ahead of plan. More than 13.5 kilometres of underground development is now complete, against the original plan of 9.3 kilometres. The outstanding mining team has again broken the record of the previous 30 days and is on pace to set its third consecutive monthly development record with 1.7 kilometres of advancement in April ─ 560 metres ahead of plan. Approximately 29.5 kilometres of underground development is scheduled for the remainder of 2020 and 2021 until scheduled first concentrate production.

Members of Kamoa-Kakula’s multi-national team of geologists and engineers that is helping to build the Tier One Kakula Mine, in front of the mine’s high-grade ore stockpile that is expected to grow to approximately 1.5 million tonnes prior to the start of production.

(L-R) Magloire Kashiba (Production Manager), Jinha Numbi (Surveyor Assistant), Nadege Muzala (Explosive Master), Joel Maweji (Surveyor), Daniel Jila (Data Clerk), Dorcas Tabitha (JMMC Explosive Master), Amisi Mwanana (Safety Officer), Didier Masengo (Senior mine Geologist), Haram Kazadi (Ventilation observer), Wivine Mutango (Ventilation Observer Assistant), Reagan Ngandu (Surveyor Assistant) and Pontien Kalala (Mine Overseer).

In parallel with the construction of Kamoa-Kakula’s phase 1 Kakula Mine, the independent Kakula definitive feasibility study (DFS) and an updated Integrated Development Plan for the entire Kamoa-Kakula mining complex also remain on schedule for Q3 2020. The Kakula DFS will provide a high level of accuracy for the project economics for Kakula’s initial phase of mine development, as most construction contracts and orders for significant capital items have been placed at fixed prices. The Integrated Development Plan will include details on the planned expansion phases for the greater Kamoa-Kakula mining complex; incorporating updates for mineral resources, production rates and economic analysis.

Mr. Friedland commented, “The company is fully focused on bringing the Kakula Copper Mine to production on schedule and on budget. The extraordinary protective measures that we put in place to safeguard the health and safety of our employees and contractors have enabled our outstanding multi-national mining team to repeatedly set new underground development records. This accomplishment positions us to deliver a world-class copper mine fortuitously timed for the highly probable recovery of the world economy by the third quarter of 2021.”

Mr. Sun added, “We’re not just investing in a new mine, roads, hydro-power plants, power lines and other important infrastructure, we’re investing in good-paying jobs and new opportunities for people who live in the DRC.”

Two of Kakula’s 63-tonne dump trucks hauling ore to the high-grade stockpile.

(L-R) Magloire Kashiba (Production Manager), Didier Masengo (Senior Mine Geologist) and Qiao Wei (JMMC Production Manager) examine samples of ore on the high-grade stockpile with a portable Niton analyzer (X-ray fluorescence).

A high-grade piece of Kakula ore grading 21.1% copper.

(L-R) Saphot Kabangue (Boilermaker), Tresor Mwangal (Mechanical Assistant), Gustave Kasonde (Mechanical Assistant), Pierre Katshitshi (Tyre Technician) and Motheba Katayi (Environmental Services) in front of one of Kakula’s new 63-tonne Sandvik dump trucks in the newly commissioned mining fleet wash bays.

Platreef, Kipushi and Western Foreland projects update

As previously announced and in compliance with the initial 21-day, country-wide lock down imposed by the South African Government, the company has temporarily suspended site activities at its Platreef palladium-platinum-nickel-copper-gold-rhodium project in South Africa. The board of directors has allocated a reduced 2020 budget of US$41.7 million for the Platreef Project. The sinking of Platreef’s Shaft 1 will continue and be completed to facilitate a relatively quick transition to production. In addition, the company also has modestly reduced activities at the historic Kipushi zinc-copper-lead-germanium mine in the DRC and allocated a 2020 budget of US$28.7 million. Exploration activities on the Western Foreland's exploration project in DRC will continue with a budget of US$8 million.

Streamlining company offices and senior management

Following the appointment of Marna Cloete as President in March 2020, Ivanhoe Mines announced a review of its organizational structure and cost base, which has now been concluded.

The company will reduce its global office footprint and its corporate and senior management headcount, in addition to implementing several other company-wide, cash-saving measures. As a result, Toronto-based Executive Vice-Chairman Egizio Bianchini will relinquish his executive role but remain as Vice-Chairman and a Director of the company. Ivanhoe’s head office will remain in Sandton (South Africa) and be supported by satellite offices in Beijing (China) and London (United Kingdom).

In order to further optimize the management structure and strengthen Ivanhoe’s executive team, Pierre Joubert has been promoted to Executive Vice President Technical Services and will join Ivanhoe’s Executive Committee. Mr. Joubert, who was General Manager of Kipushi Corporation, is a qualified Mining Engineer and has had progressively senior responsibilities in the South African operations of Johannesburg-based Anglo American Platinum (Amplats), African Rainbow Minerals (ARM) and with Ivanhoe Mines.

The Executive Committee is led by Marna Cloete, President and CFO, and includes Dr. Patricia Makhesha, Executive Vice President, Sustainability & Special Projects; Matthieu Bos, Executive Vice President Africa; and Peter Zhou, Executive Vice President China. Warwick Morley-Jepson, Ivanhoe's Chief Operating Officer, will depart the company after a short transition period.

Finally, senior management has accepted a voluntary salary reduction of up to 35% for a period of six months and the company has suspended all short-term incentive award payments for 2020 to align itself with the short and long-term interests of all its shareholders and stakeholders.

Ms. Cloete commented, “Our initiatives announced today are designed to further build on our robust cash and cash equivalents of approximately US$600 million and essentially no debt. Through this current period of temporary uncertainty, we are acting now to protect this position all while continuing to act in the best interests of our shareholders, our employees, and our broad range of stakeholders across society.”

About Ivanhoe Mines

Ivanhoe Mines is a Canadian mining company focused on advancing its three principal joint-venture projects in Southern Africa: the development of major new mines at the Kamoa-Kakula discoveries in the Democratic Republic of Congo (DRC) and at the Platreef palladium-platinum-nickel-copper-rhodium-gold discovery in South Africa; and the extensive redevelopment and upgrading of the historic Kipushi zinc-copper-germanium-silver mine, also in the DRC. Ivanhoe also is exploring for new copper discoveries on its wholly-owned Western Foreland exploration licences in the DRC, near the Kamoa-Kakula Project.

Information contacts

Investors: Bill Trenaman +1.604.331.9834 / Media: Matthew Keevil +1.604. 558.1034

Forward-looking statements

Certain statements in this news release constitute “forward-looking statements” or “forward-looking information” within the meaning of applicable securities laws. Such statements and information involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company, its projects, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as “may”, “would”, “could”, “will”, “intend”, “expect”, “believe”, “plan”, “anticipate”, “estimate”, “scheduled”, “forecast”, “predict” and other similar terminology, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. These statements reflect the company’s current expectations regarding future events, performance and results and speak only as of the date of this news release.

Such statements include without limitation, (i) statements regarding cost reduction initiatives to generate cash savings of up to US$75 million through 2021; (ii) statements regarding Kakula’s high-grade ore stockpile is expected to total approximately 1.5 million tonnes prior to the start of initial production; (iii) statements regarding the independent Kakula definitive feasibility study and updated Integrated Development Plan for the entire Kamoa-Kakula mining complex remain on schedule for Q3 2020; (iii) statements regarding the sinking of Platreef’s Shaft 1 will continue and be completed to facilitate a relatively quick transition to production; (iv) and statements regarding planned activities and budgets for the Platreef, Kipushi and Western Foreland projects for the balance of 2020.

Forward-looking statements and information involve significant risks and uncertainties, should not be read as guarantees of future performance or results and will not necessarily be accurate indicators of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements or information, including, but not limited to, the factors discussed below and under “Risk Factors”, and elsewhere in the company’s MD&A for the year ended December 31, 2019, as well as unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of parties to contracts with the company to perform as agreed; social or labour unrest; changes in commodity prices; and the failure of exploration programs or studies to deliver anticipated results or results that would justify and support continued exploration, studies, development or operations.

Although the forward-looking statements contained in this news release are based upon what management of the company believes are reasonable assumptions, the company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release.

The company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of the factors set forth in the “Risk Factors” section of the company's Annual Information Form for the year ended December 31, 2019 and elsewhere in the company’s MD&A for the year ended December 31, 2019.

刚果民主共和国科卢韦齐 — 艾芬豪矿业 (TSX: IVN; OTCQX:IVPAF) 联席主席罗伯特 ·弗里兰德 (Robert Friedland) 与孙玉峰 (Miles Sun) 今天宣布,卡库拉铜矿的地下开发持续快速推进,目前已经完成了约13.5公里的地下开发工程,超过既定计划4.2公里。采矿团队于本月继续创下新的月度开采记录,掘进1.7公里,比月度计划领先562米。



       艾芬豪位于刚果民主共和国 (以下简称“刚果”) 的卡莫阿-卡库拉项目,其卡库拉矿山的第一阶段开发在许多方面都已超过了既定计划。目前,工作人正在开采矿石并送往堆场,平均铜品位达8%以上。由于几乎所有地下开采所得的都是矿石,因此,卡库拉高品位开采范围的每次爆破都产生约550吨矿石,然后被送到指定的高品位预生产地表堆场。预计在初步生产之前,卡库拉高品位堆场的矿石总量将高达约150万吨。



从左到右:Magloire Kashiba (生产经理)、Jinha Numbi (测量助理)、Nadege Muzala (爆破工程人员)、Joel Maweji (测量师)、Daniel Jila (数据文员)、Dorcas Tabitha (金诚信矿业管理股份有限公司爆破工程人员)、 Amisi Mwanana (职安人员)、Didier Masengo (高级矿山地质学家)、Haram Kazadi (通风系统监察员) 、Wivine Mutango (通风系统监察助理) 、Reagan Ngandu (测量助理) 和Pontien Kalala (矿区管理人)。

卡莫阿-卡库拉项目的卡库拉矿山第一阶段建设工程,与卡库拉矿山的独立最终可行性研究 (DFS) 和卡莫阿-卡库拉整个开采设施的综合开发计划更新版,将如期于2020年第三季度完成。由于大多数建设合同和重大资本项目的订单价格已定,卡库拉的独立最终可行性研究 提供的卡库拉首阶段矿山开发的项目经济数据将非常准确。综合开发计划将包括卡莫阿-卡库拉整个开采设施的扩展阶段详细计划,包含最新的矿产资源、生产率和经济分析。




从左到右:Magloire Kashiba (生产经理)、Didier Masengo (高级矿山地质学家) 及Qiao Wei (金诚信矿业管理股份有限公司生产经理) 使用便携式Niton分析仪 (X 射线荧光分析) 检查高品位堆场的矿石样品。


从左到右:Saphot Kabangue (锅炉制造人员)、Tresor Mwangal (机械助理)、Gustave Kasonde (机械助理)、Pierre Katshitshi (轮胎技工) 和Motheba Katayi (环境服务) 在卡库拉矿山刚刚投入服务的采矿车队清洗场內的,一台载重63吨的Sandvik卡车前拍照。

普拉特瑞夫、基普什和西部前沿勘探(Western Foreland) 项目的最新进展

正如早前公布及应对南非政府在全国范围内实施初步为期21天的封锁,艾芬豪位于南非的普拉特瑞夫钯-铂-镍-铜-金-铑矿项目将会暂停矿场活动,且董事会已将普拉特瑞夫项目的2020年预算调低至4,170万美元。普拉特瑞夫一号矿井将会继续进行凿井作业至工程完成,做好准备尽快重返生产轨道。另外,艾芬豪位于刚果的历史悠久基普什锌-铜-铅-锗矿将会大幅减少矿场活动,并将项目的2020年预算调低至2,870万美元。位于刚果的Western Foreland勘探项目将会继续进行勘探活动,预算为800万美元。


自2020年3月任命玛娜·科洛特(Marna Cloete)为总裁后,艾芬豪矿业宣布对其组织架构和成本概算进行审查,目前已经完成。

艾芬豪将会减少其在全球各地的办事处,以及削减企业和高管人员的人数,同时在全公司范围内实施多项现金节流措施。受此影响,驻多伦多的执行副主席伊基奇尔·比安奇尼(Egizio Bianchini)将放弃其执行管理层职务,但继续担任公司的副主席兼董事。艾芬豪的总部将以南非桑顿为中心,由位于北京和伦敦的办公室进行支持。

为了进一步优化管理层架构和加强艾芬豪的高管团队,现基普什项目公司(Kipushi Corporation)的董事总经理皮埃尔·乔伯特 (Pierre Joubert)将晋升为艾芬豪的技术服务执行副总裁并将加入艾芬豪的执行委员会。乔伯特先生是一位合资格的采矿工程师,曾效力于约翰内斯堡的英美铂金、非洲彩虹矿业和艾芬豪矿业,期间逐步晋升至高级职位,负责南非业务的运营。

艾芬豪执行委员会由总裁兼首席财务官玛娜·科洛特带领,成员包括可持续发展与特殊项目执行副总裁帕翠莎·马凯莎(Patricia Makhesha)博士、非洲业务执行副总裁马修·波斯(Matthieu Bos)、中国业务执行副总裁周超(Peter Zhou)及技术服务执行副总裁皮埃尔·乔伯特(Pierre Joubert)。艾芬豪的首席运营官沃里克·莫利·杰普森(Warwick Morley-Jepson)将在短暂的过渡期后离职。




艾芬豪矿业是一家加拿大的矿业公司,目前正推进其位于南部非洲的三大主要合资项目﹕位于刚果民主共和国 (以下简称“刚果”) 卡莫阿-卡库拉铜矿勘探区的主要新铜矿及南非普拉特瑞夫钯-铂-镍-铜-铑-金矿勘探区的开发工作;以及同样位于刚果的历史悠久基普什锌-铜-锗-银矿的大型重建和改善工程。同时,艾芬豪正在其全资拥有、位于刚果毗邻卡莫阿-卡库拉项目的西部前沿勘探许可范围内,寻找新的铜矿勘探区。


投资者:Bill Trenaman +1.604.331.9834 / 媒体:Matthew Keevil +1.604. 558.1034


本新闻稿载有的某些陈述构成了相应证券法所定义的“前瞻性陈述”或“前瞻性信息”。该等陈述及信息涉及已知和未知的风险、不明朗因素和其他因素,可能导致本公司的实际业绩、表现或成就、其项目或行业的业绩,与前瞻性陈述或信息所表达或暗示的任何未来业绩、表现或成就产生重大差异。该等陈述及信息可通过文中使用“可能”、“将会”、“会”、“将要”、“打算”、“预期”、“相信”、“计划”、“预计”、“估计”、 “安排”、“预测”、“预言”及其他类似用语,或者声明“可能”、“会”、“将会”、“可能会”或“将要”采取、发生或实现某些行动、事件或结果进行识别。这些陈述仅反映本公司于本新闻稿发布当日对于未来事件、表现和业绩的当前预期。

该等陈述包括但不限于:(i) 关于实施降低成本的举措,于2021年节省高达7,500万美元现金的陈述;(ii) 关于在初步生产之前,预计卡库拉高品位堆场的矿石总量将达约150万吨的陈述;(iii) 关于卡库拉矿山的独立最终可行性研究和卡莫阿-卡库拉整个开采设施的综合开发计划更新版将如期于2020年第三季度完成的陈述;(iv) 关于普拉特瑞夫一号矿井将会继续进行凿井作业至工程完成,做好准备尽快重返生产轨道的陈述;以及(v) 关于普拉特瑞夫、基普什和Western Foreland项目在2020年余下日子的活动计划和预算的陈述。




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