It is accelerating work on its giant Makoko copper discovery in Democratic Republic of Congo after increasing the resource by 30 per cent, bolstering plans for what the company says is the world’s largest and highest-grade copper discovery of the past decade. The update was issued on Tuesday as rising copper prices and a dwindling pipeline of major discoveries sharpen concerns over future supply. Congo, already the world’s second-largest copper producer, is becoming increasingly central to that outlook. Ivanhoe, alongside China’s Zijin and the Congolese government, jointly owns the Kamoa-Kakula copper complex, one of Congo’s top producers. The Canadian miner said the Makoko District in its Western Forelands project now has 42 million metric tons of indicated resources grading 2.66-per-cent copper and 612 million tons of inferred resources grading 1.8-per-cent copper, containing about 12 million tons of copper. The company said the Western Forelands discoveries rank as the world’s largest and highest-grade copper finds of the past decade. Ivanhoe plans to begin a scoping study for Makoko in the first quarter of 2027 and is preparing to expand drilling further to support rapid project development. The stock is up 10% on the news https://www.ivanhoemines.com/news-stories/news-release/ivanhoe-mines-increases-the-size-of-massive-western-forelands-copper-discovery-by-30/
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6 Comments
Jesse Franklin@pinnaclewealth · 28d
Yep have had them in portfolio for over a year
CoderDonna @coderdonna · 28d
Well, I guess I'll hang on to it!
Ned @nelinjo · 28d
Only the largest and highest grade. I don't have enough of Ivanhoe i think.
