Kamoa Copper signs offtake agreements
2021-06-11 13:43:57 [Print]
Canada-based Ivanhoe Mines has announced that its operating company in the Democratic Republic of Congo, Kamoa Copper, has signed offtake agreements with Citic Metal and Gold Mountains International Mining Company for copper concentrate and blister copper.
Gold Mountains is a subsidiary of Zijin Mining, which is a 39.6% shareholder in Kamoa Copper.
The offtake agreements involve a 50% supply of copper products from Kamoa-Kakula's Phase 1 production each for Citic and Zijin. Kamoa Copper began producing copper concentrate months ahead of schedule on May 25, from the Kamoa-Kakula mine.
The ultrahigh-grade, clean concentrate produced by Kamoa-Kakula is expected to contain about 57% copper and very low levels of impurities. The mine's copper output will average 200,000 t/y during Phase 1 of operation and eventually approach its peak annual copper production rate of 800,000 t, in a phased approach.
Gold Mountains is a subsidiary of Zijin Mining, which is a 39.6% shareholder in Kamoa Copper.
The offtake agreements involve a 50% supply of copper products from Kamoa-Kakula's Phase 1 production each for Citic and Zijin. Kamoa Copper began producing copper concentrate months ahead of schedule on May 25, from the Kamoa-Kakula mine.
The ultrahigh-grade, clean concentrate produced by Kamoa-Kakula is expected to contain about 57% copper and very low levels of impurities. The mine's copper output will average 200,000 t/y during Phase 1 of operation and eventually approach its peak annual copper production rate of 800,000 t, in a phased approach.
Copper Conc. TC 25%min CIF China
Unit:USD/mt
China copper concentrate producers' suspension number statistics by province by month
Unit: pcs
