Ivanhoe accelerates Kamoa-Kakula expansion to 7.6Mt/y
Toronto-listed Ivanhoe Mines is accelerating its Kamoa-Kakula expansion in the Democratic Republic of Congo to prepare for an expected surge in copper demand that will outstrip supply.
The expansion of Kakula processing plant from 3.8-million tonnes a year to 7.6-million tonnes a year would be brought forward from the first quarter of 2023 to the second quarter of 2022, the company announced on Monday.
In order to accelerate the Kamoa-Kakula joint venture would order long-lead items with a total commitment value of $100-million within the coming weeks, of which an estimated $25-million would be spent this year.