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Ivanhoe Mines: een metaalgigant in wording

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  1. forum rang 10 DeZwarteRidder 24 maart 2015 11:27
    March 23, 2015
    About Ivanhoe Mines

    Ivanhoe Mines, with offices in Canada, the United Kingdom and South Africa is advancing and developing its three principal projects:

    The Kamoa copper discovery in a previously unknown extension of the Central African Copperbelt in the Democratic Republic of Congo's southern Katanga province. Members of the Ivanhoe Mines exploration team recently received the prestigious Thayer Lindsley Award from the Prospectors & Developers Association of Canada for the Kamoa copper discovery, recognized as the year's top international mineral discovery.

    A multi-phased mine development on its 64%-owned Platreef discovery of platinum, palladium, nickel, copper, gold and rhodium in South Africa's Bushveld Complex. The South African beneficiaries of a broad-based, black economic empowerment structure have a 26% stake in the Platreef Project and the remaining 10% is owned by a Japanese consortium of ITOCHU Corporation; Japan Oil, Gas and Metals National Corporation; ITC Platinum Development Ltd., an ITOCHU affiliate; and Japan Gas Corporation.

    The historic, high-grade Kipushi zinc, copper and germanium mine, also on the Copperbelt in the D.R. Congo's Katanga province, which now is being drilled and upgraded by Ivanhoe following its acquisition of a majority interest in the mine in 2011. Kipushi was operated by previous owners between 1924 and 1993.

    Website: www.ivanhoemines.com
  2. forum rang 10 DeZwarteRidder 24 maart 2015 11:28
    China-based Zijin Mining Group to acquire a 9.9% stake
    in Ivanhoe Mines

    Zijin to invest approximately C$105 million to help advance
    Ivanhoe's three mine-development projects in southern Africa

    NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

    HONG KONG - Robert Friedland, Executive Chairman of Ivanhoe Mines Ltd. (TSX: IVN), and Chen Jinghe, Chairman of Zijin Mining Group Co., Ltd., jointly announced today that Zijin has agreed to make a major investment in acquiring a significant minority stake in Ivanhoe Mines.

    Under terms of the agreement signed in Hong Kong, Ivanhoe Mines will issue 76,817,020 common shares to Zijin through a private placement at a price of C$1.36 per share, yielding gross proceeds of approximately C$105 million (US$82 million). Ivanhoe Mines will use the proceeds for working capital and general corporate purposes, including the advancement of the company's projects in southern Africa.

    Approximately 9.9% of Ivanhoe Mines' issued and outstanding common shares will become owned by a wholly-owned subsidiary of Zijin when the placement is completed.

    Mr. Friedland said Zijin's decision represents the first major commitment by an international mining company to provide support for all of Ivanhoe's development-stage projects in South Africa and in the Democratic Republic of Congo.

    "We are delighted to welcome Zijin Mining both as an old friend of Ivanhoe Mines and a strategic investor that shares our long-term vision. We also have agreed to continue to explore additional opportunities to collaborate on the advancement of all three of our world-class projects," Mr. Friedland said.

    "In particular, Ivanhoe and Zijin are in detailed, friendly discussions about the strategic co-development of our Kamoa copper discovery in the Democratic Republic of Congo. Kamoa's significance was further affirmed earlier this month when Ivanhoe's Kamoa Discovery Team received the prestigious 2015 Thayer Lindsley Award from the Prospectors & Developers Association of Canada, recognizing Kamoa's distinction as the year's top global mineral discovery."

    Mr. Chen said Zijin Mining "is honoured to have the opportunity to invest in Ivanhoe Mines, which controls the world-class, high-grade Kamoa Copper Project, Platreef Platinum-Group-Metals Project and Kipushi Zinc-Copper Project, all three of which have great untapped potential. We believe these are among the most attractive undeveloped mineral deposits in the world. Robert Friedland and I have been friends for more than 10 years. As a geologist myself, I sincerely admire the achievements of his team in its significant discoveries in Africa.

    "Zijin will establish a close and strategic partnership with Ivanhoe through which we plan to closely cooperate in the development of Ivanhoe's mines. I am convinced that our partnership will turn our respective strengths into synergies, not only for the mutual benefit of both parties, but also to create significant value for both Zijin and Ivanhoe shareholders, as well as the societies in which we operate," Mr Chen added.

    Established in 1986, Zijin has acquired extensive interests across a broad range of commodities during the past 23 years. Zijin is one of the largest gold producers in China, the country's second largest primary copper producer and a major zinc producer. In addition to its portfolio of producing assets in China, Zijin also controls or has interests in existing mines in Australia, Russia, Tajikistan and Kyrgyzstan, and is participating in mine development projects in Canada, the Democratic Republic of Congo and Peru. The company's shares trade on the Shanghai and Hong Kong stock exchanges.

    The Zijin private placement is scheduled to close on or about April 20, 2015, subject to receipt of the approval of the Toronto Stock Exchange, and receipt by Zijin of approvals from the Chinese government or its relevant authorized departments.

    The shares being purchased will be subject to a statutory hold period in Canada of four months plus one day from the closing of the private placement. Conditional on the closing of the private placement, Ivanhoe Mines has agreed to grant Zijin anti-dilution rights to enable Zijin to maintain its approximately 9.9% interest in Ivanhoe Mines in the event of any future equity financings.

    Photo: Chen Jinghe, Chairman of Zijin Mining, and Robert Friedland, Executive Chairman of Ivanhoe Mines, at the strategic investment signing ceremony.
  3. forum rang 10 DeZwarteRidder 24 maart 2015 11:29
    The Kamoa Project is a newly discovered, very large, stratiform copper deposit with adjacent prospective exploration areas within the Central African Copperbelt, approximately 25 kilometres west of the town of Kolwezi and about 270 kilometres west of the provincial capital of Lubumbashi. Ivanhoe Mines holds its 95% interest in the Kamoa Project through a subsidiary company, African Minerals Barbados Limited SPRL (AMBL). A 5%, non-dilutable interest in AMBL was transferred to the government of the DRC on September 11, 2012, for no consideration, pursuant to the DRC Mining Code. The company also has offered to sell an additional 15% interest to the DRC on commercial terms to be negotiated.

    In January 2013, a new independent mineral resource estimate was prepared for the Kamoa Copper Discovery by AMEC E&C Services of Reno, Nevada. The new estimate ranks Kamoa as Africa's largest high-grade copper discovery and the world's largest undeveloped high-grade copper discovery. As of January 2013, Ivanhoe Mines had discovered Indicated Mineral Resources of 739 million tonnes grading 2.67% copper, containing 43.5 billion pounds of copper, and Inferred Mineral Resources of 227 million tonnes grading 1.96% copper, containing 9.8 billion pounds of copper. A 1% copper cut-off grade and a minimum vertical mining thickness of three metres was applied in each classification.
  4. forum rang 10 DeZwarteRidder 24 maart 2015 11:30
    Platreef Project

    The Platreef Project, in South Africa's Limpopo province, is 64%-owned by Ivanhoe and 10%-owned by a Japanese consortium of Itochu Corporation; ITC Platinum, an Itochu affiliate; Japan Oil, Gas and Metals National Corporation; and Japan Gas Corporation. The Japanese consortium's 10% interest in the Platreef Project was acquired in two tranches for a total investment of $290 million. The remaining 26% ownership interest is held by Ivanhoe's broad-based, black economic empowerment (B-BBEE) partners.

    The Platreef Project includes the underground Flatreef Deposit of thick, platinum-group elements, nickel, copper and gold mineralization in the Northern Limb of the Bushveld Complex, approximately 280 kilometres northeast of Johannesburg.

    In the Northern Limb, such mineralization primarily is hosted within the Platreef, a mineralized sequence that is traced more than 30 kilometres along strike. Ivanhoe's Platreef Project, within the southern sector of the Platreef, is comprised of three contiguous properties: Turfspruit, Macalacaskop and Rietfontein. The northernmost property, Turfspruit, is contiguous with, and along strike from, Anglo Platinum's Mogalakwena group of properties and mining operations.

    Since 2007, Ivanhoe has focused its exploration activities on defining and advancing the down-dip extension of its original Platreef discovery, now known as the Flatreef Deposit, which potentially is amenable to highly mechanized, underground mining methods. The Flatreef area lies entirely on the
    Turfspruit and Macalacaskop properties.

    In January, 2015, Ivanhoe Mines welcomed the positive findings of an independent, pre-feasibility study of the planned initial four million tonnes per annum (Mtpa) mine and concentrator in the first phase of development of the company's major Platreef Project in the heart of South Africa's Bushveld Complex, the world's premier platinum producing region.

    Ivanhoe Mines plans to develop the Platreef Mine in three phases: an initial annual rate of four Mtpa to establish an operating platform to support future expansions; followed by a doubling of production to eight Mtpa; and then a third expansion phase to a steady-state 12 Mtpa. At a projected production rate of 12 Mtpa, Platreef would be among the largest platinum-group metals mines in the world.

    The pre-feasibility study (PFS) covers the first phase of development that would include construction of a state-of-the-art underground mine, concentrator and other associated infrastructure to support initial concentrate production by 2019. As Phase 1 is being developed and commissioned, there would be opportunities to refine the timing and scope of subsequent phases of expanded production.

    Key features of the Platreef PFS include:

    Development of a large, mechanized, underground mine with an initial four-million-tonne per year concentrator and associated infrastructure.
    Planned initial average annual production rate of 433,000 ounces (oz) of platinum, palladium, rhodium and gold (3PE+Au), plus 19 million pounds of nickel and 12 million pounds of copper per year.
    Estimated pre-production capital requirement of approximately US$1.2 billion, including US$114 million in contingencies, at a ZAR:USD exchange rate of 11 to 1.
    Platreef would rank at the bottom of the cash-cost curve, at an estimated US$322 per ounce of 3PE+Au, net of by-products.
    After-tax Net Present Value (NPV) of US$972 million, at an 8% discount rate.
    After-tax Internal Rate of Return (IRR) of 13%.
  5. forum rang 10 DeZwarteRidder 24 maart 2015 11:31

    The Kipushi Project, also in the DRC's province of Katanga and southeast of the company's Kamoa discovery, is adjacent to the town of Kipushi and approximately 30 kilometres southwest of the provincial capital of Lubumbashi. Ivanhoe Mines acquired its 68% interest in the Kipushi Project in November 2011; the balance of 32% is held by the DRC's state-owned mining company, Gécamines.

    The Kipushi Project is based on the high-grade, underground zinc-copper mine in the Central African Copperbelt, which mined approximately 60 million tonnes grading 11% zinc and 7% copper between 1924 and 1993. In addition to producing copper and zinc, the mine produced 12,673 tonnes of lead and approximately 278 tonnes of germanium between 1956 and 1978. The mine has been managed on a care and maintenance basis since 1993.

    Gécamines discovered the Big Zinc Deposit before 1993 and the deposit remains unmined. Historical estimates of the Big Zinc's resources between the mine's 1,295- and 1,500-metre levels total 4.7 million tonnes averaging 39% zinc and 0.76% copper. Several exploration holes confirmed the continuation of the Big Zinc Deposit below the 1,640-metre level. Kipushi's historical resource estimates above the 1,500-metre level total approximately 17 million tonnes averaging 16.7% zinc and 2.3% copper, including the Big Zinc historical resources.

    A Qualified Person has not done sufficient work to classify the historical estimates as current Mineral Resources and Ivanhoe Mines is not treating such estimates as current Mineral Resources. The historical resources noted above are derived from an estimate prepared by Techpro Mining and Metallurgy in 1997 and are presented at an indicated level. A discussion of the material assumptions, parameters and methods relating to the historical resource estimate, as well as a discussion of relevance, reliability and other information regarding the estimate, is included in the Kipushi Technical Report dated September 2012 prepared by IMC Group Consulting Ltd. and available at www.sedar.com.
  6. forum rang 10 DeZwarteRidder 24 maart 2015 11:33
    Exploration and development drilling

    Ivanhoe's Kipushi underground drilling program is designed to confirm and update Kipushi's estimated historical resources and to further expand the resources along strike and at depth. More than 10,000 metres of drilling had been completed by the end of the third quarter.

    A total of 5,148 metres, in 37 drill holes, were completed in Q3. Drilling during the quarter initially focused on the Série Récurrente Zone, with 2,361 metres drilled in 21 holes. The focus of drilling subsequently switched to the Big Zinc as the 1,272-metre-level drill drift was dewatered and rehabilitated, with 2,787 metres completed in 16 holes.

    Série Récurrente exploration continued to test areas to the east and below the historical measured and indicated resources. A final drill section was completed from the 1,251-metre-level and three additional sections were completed from a drill station on the 1,261-metre-level. Two holes tested the Nord Riche area, where the Série Récurrente intersects the Fault Zone.

    The first assays from Ivanhoe drilling program at Kipushi were received on July 14, 2014: Among the significant results received to that date:

    Three holes drilled to validate historical models of the down-plunge continuity of Big Zinc mineralization returned zinc grades of 40.9% over 348.5 metres, 44.8% over 339.4 metres, and 33.3% over 305.8 metres. The down-plunge geometry of the holes does not allow for estimation of true widths.

    Internal zones of exceptionally rich mineralization in the first two holes, KPU001 and KPU002, returned zinc grades of 60.4% over 35.1 metres, 56.3% over 18.0 metres, and 56.6% over 71 metres. These internal zones also returned germanium grades of 87.2, 120.4 and 111.9 grams per tonne (g/t), respectively.

    An internal copper-silver-germanium rich zone in the third hole KPU003 graded 6.1% copper, 44.5% zinc, 144 g/t silver and 66.9 g/t germanium over 31 metres from 197 metres. Historical resource estimates at Kipushi excluded silver and germanium.

    The third hole, KPU003, also discovered a zone grading 58.6% zinc and 293.8 g/t germanium over 22.3 metres, approximately 180 metres below the historical measured and indicated resources. This exceptional grade intersection may represent an extension to the Big Zinc or the start of a new zinc- and germanium-rich zone, and will be followed up by ongoing drilling.

    In addition, two holes from Ivanhoe's exploratory drilling program targeting the Série Récurrente ("Recurring Series") zone at the north end of the Kipushi deposit returned very high copper and silver grades. Hole KPU008 intersected 11.4 metres (estimated true width of 11.2 metres) grading 17% copper and 89.6 g/t silver.
  7. forum rang 10 DeZwarteRidder 27 maart 2015 18:47
    March 27, 2015

    Ivanhoe Mines Issues 2014 Year-End Results
    And Review Of Operations

    Construction of first mining shaft at Platreef PGM Project highlights
    a year of significant progress at Ivanhoe's three key development
    projects in southern Africa

    TORONTO, CANADA -- Ivanhoe Mines (TSX: IVN) today announced its financial results for the year ended December 31, 2014. All figures are in US dollars unless otherwise stated.

    HIGHLIGHTS

    On November 4, 2014, South Africa's Department of Mineral Resources provided final approval of the Mining Right for the development of Ivanhoe Mines' Platreef Project, paving the way for Ivanhoe to build a new, R13.5 billion ($1.2 billion) platinum, palladium, rhodium, gold, nickel and copper underground mine just outside Mokopane, in Limpopo province.

    In January 2015, Ivanhoe completed a pre-feasibility study for Platreef which covered the first phase of development of a large, mechanized, underground mine with an initial four-million-tonnes-per-year concentrator and associated infrastructure to support initial concentrate production by 2019. The study estimates planned initial average annual production rate of 433,000 ounces of platinum, palladium, rhodium and gold (3PE+Au), plus 19 million pounds of nickel and 12 million pounds of copper per year, at an estimated $322 per ounce of 3PE+Au, net of by-products. The feasibility study for the first phase of development is expected to commence in Q2 2015.

    Ivanhoe Mines plans to develop the Platreef underground mine in three phases -- an initial annual rate of four million tonnes per year (Mtpa) to establish an operating platform to support future expansions; followed by a doubling of production to eight Mtpa; and then a third expansion phase to a steady-state 12 Mtpa. At a projected production rate of 12 Mtpa, Platreef would be among the largest platinum-group metals mines in the world.

    Construction work on a large, concrete surface collar for the 7.25-metre-diameter Shaft 1 at Platreef is advancing well and the refurbished stage and hoist winding equipment will be installed once the foundations are complete. Shaft 1, including some initial lateral, underground development work, is expected to be fully funded from dedicated funds remaining in Ivanhoe's treasury from the $280 million received in 2011 for the sale of an 8% interest in the Platreef Project to the ITOCHU-led Japanese consortium.

    Ivanhoe has awarded the contract for design and engineering of Shaft 2, the 10-metre-diameter main production shaft that will be capable of hoisting six million tonnes a year, to South Africa-based Murray & Roberts Cementation in June 2014. This will enable Ivanhoe to start Shaft 2 development works in 2015, subject to necessary approvals and funding.

    On February 11, 2015, Ivanhoe announced that its South African subsidiary, Ivanplats, was the top-ranked platinum-sector mining company in compliance with the country's black empowerment laws. Ivanplats achieved Level 3 status in its first verification assessment on the Broad-Based Black Economic Empowerment (BBBEE) scorecard. A total of 70% of the 700 permanent and contract workers currently employed by the company are from the local area. In March 2015, the Platreef Project achieved a significant operational safety milestone when it recorded the completion of 3.8 million person hours of work without incurring a lost-time injury.

    On March 3, 2015, members of the Ivanhoe Mines exploration team received the prestigious Thayer Lindsley Award from the Prospectors & Developers Association of Canada (PDAC) for the discovery of the Kamoa Copper Deposit in the Democratic Republic of Congo (DRC).

    The construction of the box cut for the first access declines to the initial planned underground mine at Kamoa was completed at the end of 2014. This enables commencement of construction of the twin declines designed to intersect the high-grade copper mineralization in the Kansoko Sud area, approximately 150 metres below surface. Ivanhoe's drilling program in this area has defined a thick, near-surface zone of high-grade copper mineralization, where a recent drill hole intercepted 15.7 metres (true width) of 7.04% copper, at a 1.5% total copper cut-off. A tender for construction of the twin declines and a raise-bore ventilation shaft was issued towards the end of 2014.

    In line with the phased approach to project development outlined in the 2013 Kamoa preliminary economic assessment, the Kamoa pre-feasibility study is progressing based on the planned first phase of the project, which will be the construction of an underground operation, producing three million tonnes per year and feeding a concentrator adjacent to the mine.

    Also in the DRC, underground drilling began in March 2014 at the Kipushi copper-zinc-germanium-lead and precious-metals mine, which is southeast of Kamoa on the Central African Copperbelt in southern Katanga Province, less than one kilometre from the Zambian border. The drilling is designed to confirm and update Kipushi's estimated historical resources and to further expand the resources on strike and at depth. More than 13,000 metres of drilling had been completed by the end of 2014.

    On February 17, 2015, Ivanhoe announced the intersection of a potential new zone of mineralization by Hole KPU072, 140 metres below the base of historical Indicated Resources of the Big Zinc. The observed intersection includes mixed massive sphalerite, chalcopyrite and minor pyrite from 417.32 metres to 420.55 metres, massive sphalerite from 420.55 metres to 468.09 metres, and massive pyrite with accessory chalcopyrite and sphalerite from 468.09 metres to 477.17 metres. The core intersection angles suggest the zone may have a true width of approximately 30 metres.

    On March 23, 2015, China-based Zijin Mining Group agreed to acquire a 9.9% stake in Ivanhoe Mines by investing approximately C$105 million to help advance Ivanhoe's three mine-development projects in Africa. Under terms of the agreement, Ivanhoe will issue 76,817,020 common shares to Zijin through a private placement at a price of C$1.36 per share. In addition, Ivanhoe and Zijin are in detailed, friendly discussions about the strategic co-development of Ivanhoe's Kamoa copper discovery in the Democratic Republic of Congo.
  8. forum rang 10 DeZwarteRidder 12 mei 2015 19:49
    May 12, 2015

    Ivanhoe Mines Announces Financial Results
    And Review Of Operations For The First Quarter Of 2015

    TORONTO, CANADA – Ivanhoe Mines (TSX: IVN) today announced its financial results for the first quarter ended March 31, 2015. All figures are in U.S. dollars unless otherwise stated.

    HIGHLIGHTS

    On April 20, 2015, China-based Zijin Mining Group acquired a 9.9% stake in Ivanhoe Mines by investing approximately C$105 million (US$85 million) to help advance Ivanhoe's three mine-development projects in Africa. Under terms of the agreement, Ivanhoe will issue 76,817,020 common shares to Zijin through a private placement at a price of C$1.36 per share. In addition, Ivanhoe and Zijin are in detailed, friendly discussions about the strategic co-development of Ivanhoe's Kamoa copper discovery in the Democratic Republic of Congo (DRC).
    On March 3, 2015, members of the Ivanhoe Mines exploration team received the prestigious Thayer Lindsley Award from the Prospectors & Developers Association of Canada (PDAC) for the discovery of the Kamoa Copper Deposit in the DRC.
    In January 2015, Ivanhoe completed a pre-feasibility study for the Platreef Project in South Africa that covered the first phase of development of a large, mechanized, underground mine with an initial four-million-tonne-per-year concentrator and associated infrastructure to support initial concentrate production by 2019. The study estimates a planned initial, average annual production rate of 433,000 ounces of platinum, palladium, rhodium and gold (3PE+Au), plus 19 million pounds of nickel and 12 million pounds of copper per year, at an estimated $322 per ounce of 3PE+Au, net of by-products. The feasibility study for the first phase of development is expected to commence within the next six weeks.
    Ivanhoe Mines plans to develop the Platreef underground mine in three phases -- an initial annual rate of four million tonnes per year (Mtpa) to establish an operating platform to support future expansions; followed by a doubling of production to eight Mtpa; and then a third expansion phase to a steady-state 12 Mtpa. At a projected production rate of 12 Mtpa, Platreef would be among the largest platinum-group metals mines in the world.
    On February 11, 2015, Ivanhoe announced that its South African subsidiary, Ivanplats, was the top-ranked platinum-sector mining company in compliance with the country's black empowerment laws. Ivanplats achieved Level 3 status in its first verification assessment on the Broad-Based Black Economic Empowerment (BBBEE) scorecard. A total of 70% of the 700 permanent and contract workers currently employed by the company are from the local area.
    In major double achievements of on-the-job health and safety management, both the Kamoa Project in the DRC and the Platreef Project in South Africa now have surpassed the total of four million accumulated person hours of work without either project incurring a single injury that caused a loss of time worked. The Platreef Project topped the four-million-hour mark in April 2015. The Kamoa Project, which ended 2014 with a lost-time-injury-free (LTIF) total of 3.9 million hours, pushed its record to 4.04 million hours by the end of March this year.
    Construction work on a large concrete surface collar for the 7.25-metre-diameter Shaft 1 at Platreef is advancing well and the refurbished stage and hoist-winding equipment will be installed once the foundations are complete. Shaft 1, including some initial lateral, underground development work, is expected to be fully funded from dedicated funds remaining in Ivanhoe's treasury from the $280 million received in 2011 from the sale of an 8% interest in the Platreef Project to the ITOCHU-led Japanese consortium.
    On February 17, 2015, Ivanhoe announced the intersection of a potential new zone of mineralization by Hole KPU072 at the Kipushi copper-zinc-germanium-lead and precious-metals mine in the DRC, 140 metres below the base of historical Indicated Resources within the Big Zinc zone. The observed intersection includes mixed massive sphalerite, chalcopyrite and minor pyrite from 417.32 metres to 420.55 metres, massive sphalerite from 420.55 metres to 468.09 metres, and massive pyrite with accessory chalcopyrite and sphalerite from 468.09 metres to 477.17 metres. The core intersection angles suggest that the zone may have a true width of approximately 30 metres.

    Principal Projects and Review of Activities

    Ivanhoe Mines is advancing and developing its three principal projects in Southern Africa:

    The Kamoa copper discovery in a previously unknown extension of the Central African Copperbelt in the DRC's Province of Katanga.
    The Platreef Discovery of platinum, palladium, nickel, copper, gold and rhodium on the Northern Limb of the Bushveld Complex in South Africa.
    The historic, high-grade Kipushi zinc-copper mine, also on the Copperbelt in the DRC and now being drilled and upgraded following a care-and-maintenance program conducted between 1993 and 2011.
  9. forum rang 10 DeZwarteRidder 26 mei 2015 18:51
    Zijin to acquire 49.5% of Ivanhoe's Kamoa stake for a total cash consideration of US$412 million Zijin holds option to acquire an additional 1% share upon successfully arranging project financing for 65% of the first phase of Kamoa's development costs

    XIAMEN, CHINA--(Marketwired - May 26, 2015) - Robert Friedland, Executive Chairman of Ivanhoe Mines Ltd. (TSX:IVN), and Lars-Eric Johansson, Chief Executive Officer, announced today that Ivanhoe and Zijin Mining Group Co., Ltd. have agreed to a strategic co-development of the Kamoa copper discovery in the Democratic Republic of Congo.

    Under terms of agreements signed in Xiamen, Zijin - through its subsidiary, Gold Mountains (H.K.) International Mining Company Limited - will buy a 49.5% share interest in Kamoa Holding Limited (Kamoa Holding), an Ivanhoe subsidiary that presently owns 95% of the Kamoa Project, for an aggregate consideration of US$412 million (approximately C$506 million).

    The purchase price will be satisfied by an initial payment of US$206 million in cash upon the closing of the transaction, which is expected on or about July 31, 2015, and is subject to Zijin's receipt of approvals by the government of the People's Republic of China, and certain other customary closing conditions.

    The agreements specify that the remaining US$206 million will be paid in five equal installments, payable every 3.5 months from closing and continuing through the remainder of 2015 and into 2016.

    In addition, Ivanhoe has agreed to sell 1% of its share interest in Kamoa Holding to Crystal River Global Limited (Crystal River) for US$8.32 million - which Crystal River will pay through a non-interest-bearing, 10-year promissory note. Crystal River is a private company incorporated in the British Virgin Islands but operated in Hong Kong and controlled by Mr. So Hon Chun. Mr. So is a Hong Kong permanent resident who had served in a number of senior capacities in natural resources development within the CITIC group for more than 10 years during the late 1990s to 2010/2011. Subsequent to his retirement, Mr. So set up his own consultancy and has been active in providing advice to large, international and People's Republic of China state-owned companies in the mining and oil and gas sectors. He also has had a long involvement with Ivanhoe Capital Corporation. In addition, Mr. So is also a long standing friend of Mr. Chen, the chairman of Zijin, and as a result, is the mutually agreeable and trusted choice of both parties to hold the 1% share interest.

    Option to acquire an additional 1% share, project financing and offtake agreement

    Zijin also has committed to use its best efforts to arrange or procure project financing for 65% of the capital required to develop the first phase of the Kamoa Project, as set out in the feasibility study, without any recourse, and on terms acceptable to Ivanhoe. Zijin will provide any and all required completion guarantees relating to the securing of project financing for the Kamoa Project.

    Upon the successful arrangement or procurement of project financing, Zijin will have the right to acquire Crystal River's 1% share interest (the 1% Option) in Kamoa Holding. If the 1% Option has not been exercised within seven years from the delivery of the feasibility study (because, for example, the project financing has not been arranged by that time), the option will expire and each of Ivanhoe and Zijin then will have the right to buy one-half of the 1% share from Crystal River, which would then result in an equivalent 50%/50% ownership split between the parties.

    The agreements also provide that upon exercise of the 1% Option, for an amount to be determined by an independent expert valuator, Zijin will be required to arrange or procure project financing for all subsequent phases of the Kamoa Project, without any recourse, and on terms acceptable to Ivanhoe. In addition, Zijin will provide any and all required completion guarantees relating to the securing of the subsequent project financing for Kamoa's development.

    Upon closing of the transaction, each shareholder is required to fund Kamoa Holding in an amount equivalent to its proportionate shareholding interest.

    In addition, since 65% of the pre-production capital required to develop the first phase of the Kamoa Project - as described in the feasibility study - is to be funded through project financing, the balance of 35% of the required capital will be funded pro rata by the shareholders. Therefore, Zijin and Ivanhoe each effectively will be required to fund 17.5% of the remaining first phase development costs.

    Following Zijin's exercise of the 1% Option, Zijin will be entitled to negotiate an offtake agreement, on commercial, arm's-length terms acceptable to Ivanhoe, to acquire up to that portion of the total production from the Kamoa Project attributable to Kamoa Holding for at least the term of the project financing.

    "This agreement with Zijin, one of the world's most accomplished miners, is further confirmation of Kamoa's distinction as one of the most significant, undeveloped mineral discoveries of our age and charts a course for the realization of significant benefits for all of Ivanhoe's and Zijin's stakeholders as well as the Congolese people. Together with the Congolese government and Zijin, we aim to meet the expectations of the Congolese people and our stakeholders in Katanga as we proceed to build a world-class, new copper mine," said Mr. Friedland.

    "The strategic partnership with Ivanhoe announced today, through which we plan to jointly develop Kamoa, will turn our respective strengths into synergies that will create significant value for both Zijin and Ivanhoe shareholders, as well as the societies in which we operate," Mr Chen added.

    Read more at www.stockhouse.com/news/press-release...
  10. forum rang 10 DeZwarteRidder 28 januari 2017 17:32
    Ivanhoe Mines considers even bigger operation in DRC after upbeat scoping study
    10:20 13 Dec 2016
    The study (PEA) focused on a 4mtpa operation at Kakula to produce 216,000 tonnes of copper annually

    Costs are a minuscule 37c per lb

    Ivanhoe Mines (TSX:IVN) will consider doubling the production capacity at the huge Kakula and Kamoa copper deposits in the DRC following a bullish scoping study.

    Kamoa-Kakula - a joint venture between Ivanhoe Mines, Zijin Mining and the DRC government – is rated the world’s largest high-grade copper discovery.

    The study (PEA) focused on a 4mtpa operation at Kakula to produce 216,000 tonnes of copper annually on average for ten years at a cost of US$0.37 per lb.

    This would cost US$1bn and payback US$3.7bn, a 272% increase on the numbers in a previous PEA

    The study also analyzed an alternative initial option that could involve a two-phase sequential expansion of production to 8 Mtpa from Kakula and also the Kansoko Mine at the adjacent Kamoa Deposit.

    Under this alternative, which would also cost US$1bn, average production would be 292,000 tonnes of copper at a mine-site cash cost of US$0.42/lb.

    Buoyed by these numbers, Ivanhoe is looking at a much larger operation that will involve an initial 8mtpa mine at Kakula and use high-grade copper mineralization plus ore from the Kansoko Sud and Kansoko Centrale areas at Kamoa to raise output to 12mtpa or even16 mtpa.

    Strategic discussions are ongoing with potential partners the company added and a new PEA is being drawn up.

    Robert Friedland, executive chairman, said: “Kamoa-Kakula is an incredibly disruptive, district-scale, Tier-One copper project that is still in its early days of discovery and development.

    "Kakula's high copper grades and thicknesses establish Kamoa-Kakula as the most remarkable and rapidly-growing mineral discovery with which I've been associated during my 30-plus years in the exploration business.

    "We've already discovered as much copper in Measured and Indicated Resources as we found with the original Ivanhoe Mines at Oyu Tolgoi, in Mongolia's South Gobi - but this time at much higher grades.

    "Significantly, both the Kamoa and Kakula discoveries are open for future expansions".

    Philip Whiterow
  11. forum rang 10 DeZwarteRidder 28 januari 2017 17:33
    Ivanhoe Mines' chairman left "speechless" by drilling results at Kakula
    09:45 23 Jan 2017
    Chairman Robert Friedland spoke at length about how the results had left him speechless

    Kakula shaker: the unfolding Kakula discovery "has caught the attention of the mining industry"

    Ivanhoe Mines Ltd (TSE:IVN) said the latest drilling results have significantly expanded the Kakula copper discovery at the Kamoa-Kakula project.

    The company has received results from samples taken from 25 drill holes at the project, which is near the mining centre of Kolwezi in the Democratic Republic of Congo (DRC).

    The Kakula Discovery remains open along a north-westerly/south-easterly strike, Ivanoe said.

    Massive potential for resource expansion is considered to remain with the Kakula discovery area.

    High-grade, chalcocite-rich copper mineralization has been outlined along a corridor that is currently around one kilometre wide and at least 5.5 kilometres long.

    According to Ivanhoe, the latest drilling results further reinforce the exceptional continuity of high-grade copper mineralization and the relatively flat-lying geometry.

    Highlights included:

    Hole DD1093: Intersected 11.1 metres (true width) of 5.82% copper at a 3.0% copper cut-off; 11.90 metres (true width) of 5.57% copper at a 2.0% copper cut-off; and 12.88 metres (true width) of 5.26% copper at a 1.0% copper cut-off
    Hole DD1080: Intersected 4.49 metres (true width) of 8.51% copper at a 3.0% copper cut-off, beginning at a downhole depth of 857.6 metres; 4.99 metres (true width) of 7.96% copper at a 2.5% copper cut-off; 4.99 metres (true width) of 7.96% copper at a 2.0% copper cut-off; and 10.23 metres (true width) of 4.75% copper at a 1.0% copper cut-off.
    Hole DD1065: Intersected 6.24 metres (true width) of 6.44% copper at a 3.0% copper cut-off, beginning at a downhole depth of 638.0 metres; 7.24 metres (true width) of 5.96% copper at a 2.5% copper cut-off; 8.39 metres (true width) of 5.43% copper at a 2.0% copper cut-off; and 8.39 metres (true width) of 5.43% copper at a 1.0% copper cut-off.

    "It is remarkable to drill a step-out hole more than 1.6 kilometres beyond the limits of the previous mineral resource boundary and intersect almost identical, high-grade, chalcocite-rich mineralization,” declared executive chairman Robert Friedland, referring to hole DD1093.

    "The open-ended nature of the extremely high-grade copper mineralization at the unfolding Kakula Discovery certainly has caught the attention of the mining industry. The ongoing results speak for themselves - and leave me speechless," he added.

    John Harrington
  12. forum rang 10 DeZwarteRidder 17 mei 2017 13:01
    May 17, 2017
    Ivanhoe Mines announces that Kakula now contains Indicated Resources of 116 million tonnes at 6.09 copper, plus Inferred Resources of 12 million tonnes at 4.45% copper, at a 3% cut-off

    The Kakula Discovery in D.R. Congo remains open for significant expansion in multiple directions Kakula's new estimate boosts combined Kamoa-Kakula Indicated Mineral Resources to approximately ONE BILLION tonnes at 3.02% copper, plus another 191 million tonnes of Inferred Resources at 2.37% copper, at a 1.4% cut-off Twelve drill rigs rapidly expanding bonanza-grade copper resources along the Kakula trend, including the new Kakula West Discovery

    KOLWEZI, DEMOCRATIC REPUBLIC OF CONGO--(Marketwired - May 17, 2017) - Robert Friedland, Executive Chairman of Ivanhoe Mines (TSX:IVN)(OTCQX:IVPAF), and Lars-Eric Johansson, Chief Executive Officer, announced today that the company has completed an independently verified, updated Mineral Resource estimate for the extremely-high-grade Kakula Discovery on the tier one Kamoa-Kakula Copper Project, near the mining centre of Kolwezi in the Democratic Republic of Congo (DRC). The Kamoa-Kakula Project is a joint venture between Ivanhoe Mines, Zijin Mining and the government of the Democratic Republic of Congo.

    The new Mineral Resource estimate covers a strike length of approximately 7.7 kilometres along the eastern section of the Kakula Discovery. It boosts the tonnage of Kakula's estimated Indicated Resources by 75% compared to the October 2016 resource estimate - which covered a strike length of 4.1 kilometres.

    Kakula's Indicated Resources increased by 50 million tonnes, to the current total of 116 million tonnes at 6.09% copper, at a 3% cut-off grade. This compares to 66 million tonnes at 6.59% copper estimated in October 2016, also at a 3% cut-off grade.

    Kakula's new estimated Inferred Resources are an additional 12 million tonnes at 4.45% copper, at a 3% cut-off.

    "With 12 rigs currently drilling at Kakula and Kakula West and another two rigs about to begin testing important new targets on the licence area, Kakula is an international story of discovery that has earned the mining world's attention," said Mr. Friedland.

    "To keep the mine-planning process driving forward, we need to provide the mining engineers with updated resource numbers for the expanded-case preliminary economic assessment due to be issued in the third quarter."

    Mr. Johansson said that the copper grades at Kakula are significantly higher than the average grades found at the adjacent, earlier Kamoa Discovery. "We're highly confident that fast-tracking mine development at Kakula will have a profound, positive impact on the economics of the overall Kamoa-Kakula Project.

    "Kakula alone already has enough resources, grading 6% copper or higher, to maintain approximately 20 years of mining at a rate of six million tonnes per year. We're also confident that Kakula West has similar potential."

    The new Kakula resource estimate covers approximately two thirds of the known strike extent of the high-grade, chalcocite-rich Kakula trend, which now is approaching 12 kilometres, and remains open along strike in both directions.

    Kamoa-Kakula geologists now are planning for a resource estimate at the newly discovered Kakula West area, located approximately three kilometres west of the new Kakula resource boundary. Excellent visual drill intercepts at Kakula West show a rapidly expanding area of shallow copper mineralization characterized by finely disseminated chalcocite in siltstone and maroon diamictite. The style and the overall geometry of mineralization at Kakula West are typical of the high-grade Kakula trend to the east.

    The Kakula Discovery is approximately 10 kilometres southwest of Kamoa's initial Kansoko Mine development. Ivanhoe and Zijin have been conducting an aggressive drilling program at the Kakula Discovery since April 2016. More than 85,000 metres of drilling have been completed. Given the outstanding success to date in delineating high-grade copper resources, the Kakula drilling program is expected to continue throughout 2017.

    Nearly 200 square kilometres of the approximately 400-square-kilometre Kamoa-Kakula Project area remain untested. The Kamoa-Kakula geology team, with the assistance of its technical advisors, has intensively evaluated the structural and stratigraphic controls on mineralization of the broader Kamoa-Kakula basin. This work has highlighted at least nine high-priority targets located in the untested areas of the Kamoa-Kakula Project that are planned to be drill tested this year.

    "The potential exists to find another Kakula. Or perhaps something even better," Mr. Friedland said.
  13. forum rang 10 DeZwarteRidder 17 mei 2017 13:04
    Highlights include:

    Indicated Mineral Resources total 349 million tonnes at a grade of 3.23% copper, containing 24.9 billion pounds of copper at a 1% copper cut-off. At a 2% copper cut-off, Indicated Mineral Resources total 210 million tonnes at a 4.41% copper grade, containing 20.4 billion pounds of copper. At a higher cut-off of 3% copper, Indicated Mineral Resources total 116 million tonnes at a grade of 6.09% copper, containing 15.6 billion pounds of copper.

    Inferred Mineral Resources total 59 million tonnes at a grade of 2.26% copper, containing 3.0 billion pounds of copper at a 1% copper cut-off. At a 2% copper cut-off, Inferred Mineral Resources total 27 million tonnes at a 3.19% copper grade, containing 1.9 billion pounds of copper. At a higher cut-off of 3% copper, Inferred Mineral Resources total 12 million tonnes at a grade of 4.45% copper, containing 1.1 billion pounds of copper.

    The average true thickness of the selective mineralized zone (SMZ) at a 1% cut-off is 12.0 metres in the Indicated Mineral Resources area and 6.4 metres in the Inferred Mineral Resources area. At a higher 3% cut-off, the average true thickness of the SMZ is 5.3 metres in the Indicated Mineral Resources area and 3.9 metres in the Inferred Mineral Resources area.
  14. forum rang 10 DeZwarteRidder 15 juni 2017 12:34
    Nieuwe eigendomsregels mijnbouw Zuid-Afrika
    7 min geleden

    PRETORIA (AFN) - Mijnbouwbedrijven in Zuid-Afrika krijgen te maken met nieuwe regels waarbij mijnen voor minstens 30 procent in handen van zwarte investeerders moeten zijn. Mijnbouwminister Mosebenzi Zwane kondigde de nieuwe regels donderdag aan. Bedrijven moeten er binnen twaalf maanden aan voldoen.

    Ook werd bepaald dat nieuwe mijnbouwprojecten voortaan voor 50 procent in zwart eigendom moeten zijn en dat 1 procent van de jaaromzet van mijnbouwers naar lokale gemeenschappen moet gaan. De mijnbouwbedrijven in Zuid-Afrika zijn tegenstander van de plannen.

    De mijnbouwindustrie is van groot belang voor Zuid-Afrika dat behoort tot 's werelds grootste producenten van goud, platina en andere grondstoffen. Het kwam in het verleden vaak tot stakingen en acties door mijnbouwwerkers waarbij zelfs doden vielen om hoger loon te eisen en ontslagen tegen te gaan.

    Op de beurs vielen de plannen van de Zuid-Afrikaanse regering niet in goede aarde. Mijnbouwers als Anglo American en Lonmin gingen flink omlaag door zorgen dat de nieuwe regels leiden tot meer onzekerheid bij investeringen.
  15. forum rang 10 DeZwarteRidder 6 juli 2017 20:40
    Ivanhoe Mines is up by almost 70% year-to-date for a good reason. The company released no negative news, on the other hand, there were several very positive news. The positive news were related especially to its world-class Kamoa-Kakula copper project. In January, Ivanhoe Mines announced that the Kakula deposit was expanded by 1.6 km. In March, it announced that further step-out drill hole intersected mineralization 3.8 km to the west along the trend (Kakula West was discovered). The exploration successes keep on increasing the potential of the Kamoa-Kakula project to become one of the biggest copper mines in the World. And in May, the Kamoa-Kakula resource estimate was updated to 80.7 billion lb copper (table below).

    Source: Ivanhoe Mines

    In February, a South African court allowed Ivanhoe Mines to relocate graves in the vicinity of the Platreef Mine project. In April, the company announced that the construction of Shaft 2 will start in Q2 2017. Shaft 2 should become the main production shaft at the Platreef PGM mine.

    seekingalpha.com/article/4086030-top-...
  16. forum rang 10 DeZwarteRidder 6 juli 2017 20:49
    The catalysts for H2 2017

    There were a lot of events in H1 2017 and many more are expected in H2 2017:

    Ivanhoe Mines:

    July - Platreef feasibility study

    Q3/Q4 - Kamoa/Kakula updated PEA

    Q3/Q4 - Kipushi PFS

    Q4 - Kakula West resource estimate

    Q3/Q4 - a lot of drill results

    Disclosure: I am/we are long IVPAF, NSU.

    I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

    Editor's Note: This article covers one or more stocks trading at less than $1 per share and/or with less than a $100 million market cap. Please be aware of the risks associated with these stocks.
  17. forum rang 10 DeZwarteRidder 12 augustus 2017 12:34
    Ivanhoe Mines: The Platreef Mine DFS Results Are Positive
    Aug. 2, 2017 8:50 AM ET|

    Peter Arendas
    Long only, commodities, research analyst
    (1,365 followers)
    Summary

    Ivanhoe Mines presented the results of the Definitive Feasibility Study for the first stage of its Platreef platinum-palladium-rhodium-gold-copper-nickel mine development.

    The 4 Mtpa operation should produce 476,000 toz of precious metals, 13 million lb nickel and 21 million lb copper per year.

    The mine is expected to become the lowest cost platinum group metals (PGM) producer in the World.

    After the third stage of development (12 Mtpa) is finished, Platreef should become the biggest PGM mine in the World.

    The debt financing of the Platreef mine CAPEX is well underway.

    Ivanhoe Mines (OTCQX:IVPAF) announced the results of the definitive feasibility study (DFS) for its 64%-owned Platreef project. The huge mine that will produce platinum, palladium, rhodium, gold, nickel, and copper is poised to become the biggest platinum group metals (PGM) mine in the world. Ivanhoe has decided for a staged approach. In the first phase, the mine will be able to process 4 million tonnes of ore per annum (4 Mtpa). Later, it will be expanded to 8 Mtpa and in the third phase, the capacity should reach the 12 Mtpa level. The recently released results of the DFS outline the economics of the first phase (4 Mtpa).

    Over the 32-year mine life, the 4 Mtpa operation should be able to produce 214,000 toz platinum, 219,000 toz palladium, 30,000 toz gold, 14,000 toz rhodium, 13 million lb nickel and 21 million lb copper per year on average. At the current metals prices of $940/toz platinum, $890/toz palladium, $1,270/toz gold, $900/toz rhodium, $4.6/lb nickel and $2.85/lb copper, the annual revenues should exceed $566 million.

    The combined average annual production of the precious metals (4E) should be 476,000 toz. The current value of 1 toz of 4E is slightly less than $939. It means that the mine should generate significant free cash-flows, given that the life of mine cash cost net of by-products and including sustaining capital is estimated at $351/toz 4E. The production costs are very low compared to most of the peers and the Platreef mine should become the lowest-cost platinum group metals producer.

    According to the DFS, the initial CAPEX is estimated at $1.54 billion. The after-tax NPV (8%) of the 4 Mtpa project is $916 million and the after-tax IRR is 14.2%. The values were calculated using life of mine average metals prices of $1,250/toz platinum, $825/toz palladium, $1,300/toz gold, $1,000/toz rhodium, $7.6/lb nickel and $3/lb copper. As can be seen in the chart below, the metals prices used in the DFS are a little higher compared to the current market prices. While the current palladium price is almost 8% higher compared to the DFS palladium price, and the gold and copper DFS prices are almost in line with the current market prices, the platinum, rhodium and nickel prices used in the DFS are notably higher compared to the current market prices. The DFS price of the precious metals basket is $1,053/toz 4E, however, the current market price is only $939/toz 4E, which is 11% lower.

    Although the metals prices used in the DFS may seem relatively optimistic, they are closer to the current market reality than the metals prices used in the PFS ($1,630/toz platinum, $815/toz palladium, $1,300/toz gold, $2,000/toz rhodium, ($1,249/toz 4E), $8.9/lb nickel, $3/lb copper). Moreover, given the expected mine life of 32 years and the current state of the metals markets, there is a good probability that the prices used in the DFS will turn out to be not only reasonable but possibly even conservative.

    The construction of the mine is underway. Shaft 1 should be completed next year and the early works on Shaft 2, the main production shaft, started in Q2. Ivanhoe Mines intends to finance its share of the 4 Mtpa Platreef CAPEX (approximately $1 billion) via debt instruments. According to the recent news release, the negotiations progress well:

    The five Initial Mandated Lead Arrangers (IMLAs) will make best efforts to arrange a total debt financing of up to US$1 billion for the development of Platreef's first-phase, four Mtpa mine. Preliminary expressions of interest now have been received for approximately US$900 million of the targeted US$1 billion financing. Negotiation of a term sheet is ongoing. In addition, preliminary discussions have commenced with leading financial institutions around the financing of the black economic empowerment partners' contribution to the development capital.

    Conclusion

    The DFS has confirmed the potential of the Platreef mine that is expected to become not only the largest but also the lowest cost PGM mine in the World. After the first phase of the mine (4 Mtpa operation) is completed, it should produce 476,000 toz of 4E, at a cash cost of $351/toz, after by-product credits and sustaining CAPEX are taken into account. Another positive news is that the financing of the mine progresses well. There is a good chance that Ivanhoe Mines will be able to finance its share of CAPEX via debt, without diluting the shareholders.

    Disclosure: I am/we are long IVPAF.

    I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
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