Canadian mining company Ivanhoe Mines has announced the discovery of high-grade copper reserves in the Democratic Republic of Congo.
Dubbed the Kitoko discovery, the copper deposits are situated within the joint venture licenses recently acquired by Ivanhoe Mines in the Western Foreland, spanning an expansive area of 247 km².
Located in close proximity to the firm’s current production projects – the Kakula and Makoko Mines -, the deposit has been pinpointed at depths ranging from 1,000 to 1,140 meters below the surface.
Robert Friedland, Founder and CEO of Ivanhoe Mines, said the discovery “confirms the effectiveness of our exploration model for identifying tier-one copper mineralization across the Western Foreland.”
He added that the firm will expand its investments and exploration efforts in the project to gain a comprehensive understanding of the copper reserves available. The company owns a 10% interest in the license and plans to increase its stake to 60% by bolstering investments in exploration and drilling activities in the project in 2024.
