Robert Friedland, the founder and executive co-chairman of Ivanhoe Mines, speaks during a conference in Santiago, Chile, on April 9, 2019.RODRIGO GARRIDO/Reuters
Ivanhoe Mines IVN-T has signed an agreement with Democratic Republic of Congo’s state mining company Gecamines to bring the Kipushi zinc mine back into commercial production, the Canada-listed miner said on Monday.
Kipushi will have an average grade of 36.4 per cent zinc over the first five years of production, Ivanhoe said.
The deal, signed by Ivanhoe’s fully-owned subsidiary Kipushi Holding, sets out commercial terms towards a new joint-venture agreement, and is subject to execution of definitive documentation, Ivanhoe said.
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