Congo miner challenges Freeport sale of Tenke mine in international court 2016-10-19Democratic Republic of Congo state miner Gecamines has challenged Freeport McMoRan Inc's sale of its majority stake in the Tenke copper mine at the International Court of Arbitration in Paris, Gecamines said on Wednesday. Gecamines Secretary-general Deogratias Ngele told Reuters that Gecamines had asserted a right of first offer following Freeport's agreement in May to sell its 56% stake in Tenke, one of the world's largest copper mines, to China Molybdenum for $2.65-billion.
Freeportâs Congo mine sale faces more objections from Gecamines 2016-09-23Gecamines, the State-owned miner in the Democratic Republic of Congo, said any decision by Lundin Mining to also withdraw from the Tenke Fungurume copper mine could present another obstacle to Freeport McMoRan’s proposed sale of its stake in the project. By exiting at the same time and transferring full ownership of the project to new parties without securing Gecamines’ approval, Lundin and Freeport would be further violating the state-owned miner’s rights, Chairman Albert Yuma said by e-mail Friday. Gecamines must be permitted to match the offers for the stake, or it could stop any deal going through, he said.
ASX: Study Confirms Potential Cobalt Production for Tiger 2016-09-08
Congo State miner submits offer for Freeport's Tenke copper project 2016-09-07Democratic Republic of Congo's State mining company Gecamines has submitted an offer to buy Freeport McMoRan's majority stake in the Tenke copper project, Gecamines' interim director-general Jacques Kamenga told Reuters on Wednesday. Freeport agreed in May to sell its 56% stake in Tenke, one of the world's largest copper mines, to China Molybdenum for $2.65-billion.
Congo State miner says to increase copper output 40% this year 2016-08-15Democratic Republic of Congo's state miner Gecamines expects to increase copper production by over 40% this year as new machinery comes online, the company said on Friday. Gecamines plans to produce 24 000 tonnes of copper this year and 50 000 tonnes next year, interim director-general Jacques Kamenga told Reuters. This is up from about 17 000 tonnes in 2015, according to central bank figures.
General 2015-05-10Ruashi Holdings (Pty) Limited owns 75 per cent (F2008: 80 per cent) of the operating company (Ruashi Mining sprl), while the remaining 25 per cent (F2008: 20 per cent) is held by the state-owned GÃ©camines. The decrease in the interest held by Ruashi Holdings (Pty) Limited is as a result of the finalisation of the contract revisitation process and the subsequent amendment to the contract of creation of Ruashi Mining sprl. During F2009, the process plant took major strides to enhance its engineering and development capacity. During plant commissioning many bottlenecks were identified and solved and a comprehensive mineral resource modelling programme was undertaken to achieve greater certainty and resolution of mineral resources and ore reserves. All costs were capitalised for the Ruashi phase II during the entire financial year.
Nearby Location News
Explor Start a Diamond Drill Program on the Chester Copper Property 2016-10-17
ROUYN-NORANDA, QUEBEC--(Marketwired - Oct. 17, 2016) - Explor Resources Inc. ("Explor" or the "Corporation") (TSX VENTURE:EXS)(OTCQX:EXSFF)(FRANKFURT:E1H1)(BERLIN:E1H1) is pleased to announce the start of a 2,000 meters diamond Drill program on the Chester Copper Property. The Chester Copper property is located in the Northumberland County, 70 km southwest of Bathurst, New Brunswick and 50 km west-northwest of Miramichi, New Brunswick, within the Bathurst Mining Camp. This area has an extensive history in base metal production from VMS deposits.
Ivanhoe Mines Files NI 43-101 Technical Report on the Preliminary Economic Assessment for the Redevelopment of the Kipushi Zinc-Copper Project in the Democratic Republic of Congo 2016-05-27
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 27, 2016) - Ivanhoe Mines (TSX:IVN) today announced that, further to its news release dated May 2, 2016, the company has filed a National Instrument 43-101 (NI 43-101) technical report on the preliminary economic assessment (PEA) for the redevelopment of the historic, high-grade, Kipushi zinc-copper-germanium-lead-silver mine. The Kipushi Project is operated by Kipushi Corporation (KICO), a joint venture between Ivanhoe Mines (68%) and Gécamines (32%), the state-owned mining company.
Ivanhoe Mines Announces a Positive Preliminary Economic Assessment for the Redevelopment of the Kipushi Zinc-Copper Project in the Democratic Republic of Congo 2016-05-02
Preliminary mine redevelopment plan focuses on Kipushi's Big Zinc Zone and includes a two-year construction period and life-of-mine average annual production rate of 530,000 tonnes of zinc concentrate
Kipushi's Big Zinc Zone has an estimated 10.2 million tonnes of Measured and Indicated Mineral Resources grading 34.9% zinc
Post-tax NPV of US$533 million and 31% IRR
Successful planned restoration of production would make Kipushi the world's highest grade major zinc mine
Ivanhoe Mines Issues 2015 Year-End Results and Review of Operations 2016-03-24
Mine construction and upgrading activities at Ivanhoe's three key development projects in Sub-Saharan Africa highlight Ivanhoe's achievements in 2015
Ivanhoe Mines Files NI 43-101 Technical Report for the Independent Mineral Resource Estimate for Its Historic Kipushi Mine in the Democratic Republic of Congo 2016-03-12
VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 11, 2016) - Ivanhoe Mines (TSX:IVN) today announced that, further to its news release dated January 27, 2016, the company has filed a National Instrument 43-101 technical report on the new, independent, Mineral Resource estimate for the company's historic, high-grade, Kipushi zinc-copper-germanium-lead-silver mine. Kipushi is a joint venture between Ivanhoe Mines (68%) and Gécamines (32%), the Democratic Republic of Congo's state-owned mining company.