Official Reopening of Ivanhoe’s Kipushi Zinc Mine in DRC

The Kipushi mine in the DRC officially reopened on Thursday, led by President Félix Tshisekedi. The joint venture between Ivanhoe Mines and Gécamines is a significant economic milestone, projected to produce 50,000 to 70,000 tonnes of zinc this year. Notable figures attended the ceremony, and the reopening represents a revival of local economic opportunities and sustainable resource development.

On Thursday, the Kipushi zinc-copper-lead-germanium mine in the Democratic Republic of the Congo was officially reopened in a ceremony led by President Félix Tshisekedi, marking a significant milestone for the region’s mining industry. Owned jointly by Ivanhoe Mines and the state-owned mining company Gécamines, this reopening comes 31 years after production was halted, signifying the revival of a key economic resource that has served the local community for a century. The event was attended by notable dignitaries including DRC’s First Lady Denise Nyakeru Tshisekedi, several government ministers, and the governor of Haut-Katanga.

The reopening announcement resulted in a 2% increase in Ivanhoe’s stock, reaching C$19.10 by early afternoon, indicating positive market sentiment regarding the mine’s recommencement. The Kipushi mine is projected to yield between 50,000 and 70,000 tonnes of zinc in concentrate this year, which is lower than the company’s initial estimates. Over the next five years, average payable zinc production is anticipated to be around 278,000 tonnes, showcasing the mine’s long-term productivity potential.

Marna Cloete, president of Ivanhoe Mines, remarked that the reopening of Kipushi signifies a commitment to sustainable resource development and economic empowerment for local communities. Gécamines chairman Guy-Robert Lukama Nkunzi expressed optimism about the mine’s integral role in the community, likening its historical significance to that of a beating heart for the town of Kipushi. The restoration of operations promises to usher in a new economic paradigm for the region, providing both immediate and future benefits.

The Kipushi mine has a storied history, having first commenced operations one hundred years ago. After three decades of inactivity, its reopening not only revitalizes this historic site but also underscores a broader trend of reinvigorating the mining sector within the Democratic Republic of the Congo. The joint venture between Ivanhoe Mines and Gécamines highlights the importance of collaboration between private and public sectors in resource management, aiming to harness the country’s mineral wealth for local and national economic development.

The reopening of the Kipushi mine represents a significant advancement for both Ivanhoe Mines and the Democratic Republic of the Congo, promising enhanced economic opportunities and sustainable resource management. It highlights the mine’s vital history and potential future contributions to the local economy. With anticipated zinc production set to increase in the coming years, the project underscores the importance of mining in fostering economic empowerment in the region.

Original Source: www.mining.com