Kipushi Zinc Mine Reopening: A New Era for the DRC’s Mining Industry
The Kipushi zinc mine in the DRC officially reopened with a ceremony led by President Félix Tshisekedi, marking a significant milestone after 31 years of inactivity. This joint venture between Ivanhoe Mines and Gécamines aims to empower local communities through sustainable mining practices. Initial production estimates for 2023 range from 50,000 to 70,000 tonnes of zinc concentrate, with plans for increased output in the following years.
On Thursday, the Kipushi zinc-copper-lead-germanium mine in the Democratic Republic of the Congo (DRC) was officially reopened, following a ribbon-cutting ceremony officiated by President Félix Tshisekedi. This high-grade mining operation is a collaborative effort between Ivanhoe Mines and the state-owned mining company Gécamines. Among the dignitaries attending the ceremony were First Lady Denise Nyakeru Tshisekedi and various high-ranking government officials.
The announcement of the mine’s reopening positively impacted Ivanhoe’s stock, which rose by 2% to C$19.10, elevating the company’s market capitalization to approximately C$25.8 billion (US$18.5 billion). The Kipushi mine had been under care and maintenance for 31 years prior to this restart, coinciding with the centennial of its initial production.
Ivanhoe Mines President Marna Cloete emphasized that “the reopening of the Kipushi mine represents not only a milestone for sustainable resource development but also a promise of economic empowerment for our local communities.” Meanwhile, Gécamines Chairman Guy-Robert Lukama Nkunzi remarked on the significance of the mine for the local economy, stating, “The Kipushi mine was the beating heart of the Kipushi town since operations first began 100 years ago … Today, its heart has been revived, and the resumption of operations is an opportunity for a new economic paradigm.”
For the year 2023, Kipushi is anticipated to produce between 50,000 to 70,000 tonnes of zinc in concentrate—half of the company’s original projection. Over the next five years, it is expected that the mine’s average payable zinc production will reach approximately 278,000 tonnes.
The reopening of the Kipushi mine is significant for the DRC, a country rich in mineral resources but facing economic challenges. The collaboration between Ivanhoe Mines and Gécamines aims to enhance production capacity and contribute to local economic development. With the reopening marking a historical return to active mining operations after three decades, the mine is poised to revitalize the local economy and support sustainable resource management over the forthcoming years.
In summary, the reopening of the Kipushi zinc mine is a landmark event for both Ivanhoe Mines and the Democratic Republic of the Congo, highlighting an important step towards sustainable development and economic empowerment for local communities. The projected production figures indicate significant potential for future growth, underpinning the mine’s vital role in the region’s economic landscape.
Original Source: www.mining.com
