The MOU outlines how Ivanhoe intends to co-develop potential tasks collectively in partnership with the federal government to make sure the long-term sustainable improvement of Zambia’s mineral sources, whereas offering a sustainable contribution to the Zambian economic system and its communities.
Ivanhoe stated the MOU consists of commitments by the mining ministry to share info, establish potential land packages, present entry to current and new geological information collected by the Zambian authorities (together with a just lately introduced 750,000-km2 country-wide airborne geophysical survey), and supply steerage and help in relation to the appliance of recent licences.
In parallel with the signing of the MOU, the corporate stated it has additionally utilized for a major exploration licence package deal in Zambia, with adjudication and award focused by year-end.
Following profitable utility of the licences, it intends to put money into exploration actions in collaboration with the Geological Survey of Zambia, with a view to co-developing viable mining tasks in a three way partnership with the Zambia authorities.
Ivanhoe stated its technique in Zambia is to comply with the identical mannequin of success that led to the invention and improvement of the world-class Kamoa-Kakula copper advanced within the neighbouring Democratic Republic of the Congo, the place it has found 50 million tonnes of copper over a 20-period.
“Ivanhoe Mines is simply getting began in increasing our world exploration footprint to find extra of the very important inexperienced metals that the world so desperately wants for superior industrialization and electrification,” Ivanhoe founder and govt co-chair Robert Friedland stated in a information launch.
“The spirit of this settlement is similar because the partnership we embarked upon with the federal government of the Democratic Republic of the Congo once we began exploring and creating Kamoa-Kakula, which is quick turning into the world’s third largest copper mine solely three years since we commenced manufacturing,” Friedland stated.
Additionally in Africa, Ivanhoe holds 22,195 sq. km. of greenfield prospecting rights for exploration within the Moxico and Cuando Cubango provinces of Angola. The corporate has up to now dedicated an preliminary exploration finances of $10 million for the area.