Ivanhoe Mines in talks over Congo and South Africa projects

Ivanhoe Mines in talks over Congo and South Africa projects

JOHANNESBURG (Reuters) – Ivanhoe Mines is in talks with companies interested in its Western Forelands project in Democratic Republic of Congo’s copper belt and its Platreef project in South Africa, the company said on Monday

The Canadian exploration firm said it had received several expressions of interest in the Platreef palladium, platinum, nickel, copper, rhodium and gold project from streaming companies.

Ivanhoe is also continuing strategic discussions over its Kipushi copper project in Congo.

Ivanhoe’s executive co-chairman Robert Friedland said surging copper, silver, and gold prices have triggered interest from various companies and lenders wanting to invest in the projects.

“That level of interest requires that we critically examine these opportunities, which we are now doing,” he said in a statement.

Ivanhoe’s fully-owned Western Forelands exploration licences range over 2,500 square kilometres next to the company’s Kamoa-Kakula project in Congo’s copper belt.

Ivanhoe holds 64% of the Platreef project through its subsidiary Ivanplats.

The Kipushi project, which also contains zinc, silver, lead, and germanium, is owned 68% by Ivanhoe Mines, with the remainder held by the Congo’s state-owned mining company, Gecamines.