Ivanhoe Mines (TSX:IVN,OTCQX:IVPAF) and the Democratic Republic of Congo (DRC) marked a major milestone with the reopening of the Kipushi mine after a 31 year operational hiatus.
An 800,000 metric ton (MT) per year concentrator facility was completed at Kipushi in May, with first concentrate produced in June. The mine’s projected output for the year is between 50,000 and 70,000 MT of zinc in concentrate.
Over the next five years, Ivanhoe expects annual production at Kipushi to average 278,000 MT, driven by a targeted recovery rate target of 96 percent and an average concentrate grade of 55 percent contained zinc.
The reopening of the site is seen bringing economic optimism to the region. The concentrator facility’s construction and operational setup provided jobs and investment, boosting the local economy.
Situated in Haut-Katanga province, Kipushi hosts high-grade zinc, copper, lead and germanium deposits. The restart coincides with the centenary of its initial operations in 1924, adding to the event’s historical importance.
Speaking at the mine reopening, Ivanhoe Mines President Marna Cloete emphasized Kipushi’s dual role in advancing sustainable resource development and fostering community empowerment.
“Today, we are breathing new life into one of the world’s richest deposits, together proving that responsible mining can drive shared prosperity,” she said in a press release published on November 21.
Gécamines Chairman Guy-Robert Lukama Nkunzi also underscored the project’s significance for the area. He described the mine as the community’s ‘beating heart,’ with its reopening symbolizing economic opportunity.
Ivanhoe notes that output from Kipushi is poised to contribute to global zinc supply amid increasing demand for the metal, which is vital for construction, galvanization and renewable energy infrastructure.
The mine’s copper, lead and germanium production will further enhance its profile as a key resource hub.
Kipushi complements Ivanhoe’s flagship Kamoa-Kakula copper project in the DRC. The company is also in the construction phase at its Platreef palladium-nickel-platinum-rhodium-copper-gold project in South Africa.
Ivanhoe shares responded positively to the reopening, reflecting market confidence in the mine’s prospects.
The reopening ceremony was attended by national and local dignitaries, as well as President Félix Tshisekedi. He highlighted the partnership between Ivanhoe Mines and state-owned Gécamines, which jointly operate the site.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.