Ivanhoe Mines

 

CITIC Metal acquired the shares of Ivanhoe Mines Ltd., a world-re- nowned mining company, successively in 2018 and 2019 and be- came the single largest shareholder of the latter, currently holding 25.97% stake.

 

Founded in 1993, Ivanhoe Mines Ltd., headquartered in Vancouver, has evolved into a world-renowned mineral exploration and devel- opment company and successfully listed in Toronto Stock Exchange (TSX: IVN) in October 2012. Ivanhoe owns three world-class, high- grade  mining  assets,  including  Kamoa-Kalula  Copper  Mine  (“KK Copper Mine”) (39.6% equity interest), Kipushi Zinc-Copper Mine (68% equity interest) in the Democratic Republic of the Congo and Platreef PGM Polymetallic Mine (64% equity interest) in South Africa.

 

The implementation of Ivanhoe project secures stable supply of cop- per resources for China’s economic development. It demonstrates CITIC’s strong commitment to the “Belt and Road Initiative” and the “China-Africa Development Strategy”, and plays a key role for CITIC Group to achieve balanced growth between financial and non-finan- cial businesses.  Ivanhoe’s superior mining assets and the devel-opment potential is likely to become a new profit driver and a solid base for the capital market participation, also promotes the Company convert the resource advantage into capacity advantage and provide strong support to the Company’s capital operation.

 

Kipushi Zinc-Copper Mine :

Ranked as the world’s fourth-largest copper discovery, KK Copper Mine is fast growing and with highest-grade copper resources. It contains 43.69 million tons of cop- per metal at an average grade of 2.53%. As Phase I and Phase II reached commercial production, it is ex- pected an annual production of around 400k tons of copper concentrates during LOM. Phase III is under- way of construction and capacity expansion and the production is scheduled by the end of 2024. Till then, the annual capacity will be peaked to 600k tons, and KK Copper Mine will move up its ranking the third-larg- est copper mine in the world.

 

 

Kipushi Zinc-Copper Mine :

Ranked among the world's top 10, highest grade major zinc mine. It contains 4.55Mt of zinc metal at an average grade of 35.3%; and is expecting an annual production of 240k tonnes of zinc metal in concentrates during LOM.

 

Platreef PGM, Gold, Nickel and Copper Polymetallic Mine :

Ranking  among  the  world’s top ten  PGM  mines  in  terms  of production scale, the mine has 2,950 tons of mineral resources (contain- ing  platinum,  palladium,  rhodium and gold), at an average grade of 3.5g/t.  The  average  annual  pre- cious metal output (platinum, pal- ladium, rhodium and gold) during the service life of the mine is about 16 tons, which will make the mine the world’s fifth largest PGM mine.