Ivanhoe Mines to Commence Copper Exploration in Angola

SEATTLE (Scrap Monster): Ivanhoe Mines announced plans to commence copper exploration activities in Angola next year. The company had secured greenfield prospecting rights over an area of 22,195 square kilometres in the country’s Moxico and Cuando Cubango provinces. The team mobilization is scheduled for early 2024, with activities to commence shortly after that.

The prospecting rights have been granted for an initial period of five years, which may be further extended up to seven years. The company needs to relinquish 50% of the prospecting rights at the end of the initial five-year period. The greenfield area granted to Ivanhoe has witnessed only limited prior exploration. The other companies undertaking greenfield exploration activities in the region include AngloAmerican and Rio Tinto.

The company has committed to an initial exploration budget of approximately $10 million in Angola.

It must be noted that the company has been ramping up exploration projects in the African continent. It has already announced plans to restart Kipushi zinc mine and undertake exploration at the Western Foreland project in the DRC. Also, it is currently advancing construction of its Platreef palladium, rhodium, nickel, platinum, copper and gold project. 

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