Latest news with #IvanhoeMines
Zawya
3 days ago
- Business
- Zawya
African Mining Week (AMW) to Spotlight Opportunities in South Africa's Platinum Group Metals (PGM) Market
The upcoming African Mining Week (AMW) – Africa's premier gathering for mining stakeholders, taking place from October 1-3, 2025, in Cape Town – will feature a dedicated panel exploring investment and growth opportunities within the country's platinum group metals (PGM) market. Titled, South Africa's Strategic Influence in the Global PGM Market, the panel session will spotlight national initiatives designed to strengthen the country's PGM value chain – an industry that already accounts for approximately 80% of global supplies. As South Africa strengthens its position as the world's leading producer of PGM, the session will foster greater collaboration among industry stakeholders. Speakers are expected to address challenges and opportunities across the value chain, identifying strategies for accelerating production and consolidating the country's position as a major global supplier. African Mining Week serves as a premier platform for exploring the full spectrum of mining opportunities across Africa. The event is held alongside the African Energy Week: Invest in African Energies 2025 conference from October 1-3 in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@ South Africa's PGM market offers significant opportunities for mining companies and investors. In May 2025, mining firm Ivanhoe Mines reached a significant milestone by driving underground development into the high-grade platinum, palladium, rhodium, nickel, gold and copper orebody at the Platreef Mine in Mokopane. First production at the project is targeted for Q4, 2025, followed by Phase 2 within two years after first production. The project, containing over 95 million tons of PGMs, aims to produce 450,000 ounces annually in Phase 2. Meanwhile, Canada-based Platinum Group Metals Ltd. recently announced plans to raise $1.8 billion through a private placement to advance the Waterburg Project in South Africa. The project holds proven and probable reserves of 246.2 million tons of platinum, palladium, rhodium and hold at an average grade of 2.96 grams per ton. With aims to diversify its product portfolio and enhance revenue generation, mining Group Pelagic Resources launched the development of a new PGM concentrator at its Kookfontein Mine in February this year. Designed by exploration company Nuco Chrome in early 2024, the concentrator is currently in an advanced development stage and is expected to be commissioned in the first half of 2025. Other major PGM developments in South Africa include the 40-million-ounce Bengwenyama Project by Southern Palladium, which completed a pre-feasibility study in October last year, confirming a 14% increase in PGM reserves. Meanwhile, Vanadium Resources Ltd. recently signed an agreement with China Energy Engineering International Group for the provision of engineering, procurement and construction services for the Steelpoortdrift Vanadium Project. The open pit mine and treatment facility will be developed for the exploitation of 680 million tons of vanadium resources in the Bushveld Complex. Additionally, Northam Platinum Holdings is reviving the Eland Mine Complex in the North West Province, with aims to increase PGM production from 100,000 ounces annually in 2025 to 180,000 ounces by 2028. Amid this growth, AMW will serve as a key platform to unpack these developments and explore new strategies being implemented to attract investment and boost production. The event will bring together South African regulators, mining executives and global partners to shape the future of the country's PGM sector. Distributed by APO Group on behalf of Energy Capital&Power.
Bloomberg
4 days ago
- Business
- Bloomberg
Flooded Mine in Congo Is Latest Threat to Global Copper Supply
By , Thomas Biesheuvel, and Jack Farchy Save The status of one of the world's most important copper mines remains clouded in uncertainty, more than a week after seismic activity caused widespread flooding deep below ground. Ivanhoe Mines Ltd. 's Kamoa-Kakula complex in the Democratic Republic of Congo is one of the world's top sources of copper and was on course to become the third-biggest supplier of the key energy-transition metal this year. Yet its current condition is a mystery, with contrasting messages from its biggest shareholders.
Zawya
6 days ago
- Business
- Zawya
Ivanhoe Mines President and Chief Financial Officer (CFO) to Speak at African Mining Week 2025
Marna Cloete, President and Chief Financial Officer (CFO) of Canadian mining firm Ivanhoe Mines will speak at the upcoming African Mining Week. During the event, Cloete will participate in the Women in Leadership Forum, Highlighting the vital role women are playing in driving sustainability, innovation, and inclusive growth within the mining sector. African Mining Week serves as a critical platform for advancing gender inclusivity in the sector, uniting policymakers, investors, academics, and mining stakeholders to foster a sustainable future for the industry. African Mining Week serves as a premier platform for exploring the full spectrum of mining opportunities across Africa. The event is held alongside the African Energy Week: Invest in African Energies 2025 conference from October 1-3 in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@ Cloete will join a high-level panel discussion titled Mergers, Acquisitions, and Partnerships: Building Resilience in a Consolidating Industry, exploring the role of partnerships in ensuring supply chain resilience. Under Cloete's financial leadership, Ivanhoe Mines has achieved several milestones, including partnerships with global players such as Zijin Mining, CITIC Metal, and Itochu; raising $490 million through equity in December 2023; and securing a $750 million debt package in early 2024 to support expansion. Her leadership has also been instrumental in the advancement of Ivanhoe Mines' flagship projects, including the Kamoa-Kakula Copper Complex - the world's highest-grade copper project - in the Democratic Republic of Congo (DRC). Ivanhoe Mines also reopened the Kipushi Mine, one of the largest copper deposits globally, in the DRC while expanding its African footprint by entering Zambia's copper-rich North-Western Province and developing the Flatreef platinum group metals project in South Africa. Ivanhoe's $75 million exploration budget for 2025, with a strong focus on Africa, further underscores its commitment to unlocking the continent's mineral potential. African Mining Week represents an ideal platform for Cloete to share Ivanhoe Mines' strategic investment approach, champion partnerships, and discuss the firm's ongoing contribution to African economic growth, employment, and industrialization. The event is held alongside the African Energy Week: Invest in African Energies 2025 conference from October 1-3 in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@ Distributed by APO Group on behalf of Energy Capital&Power.
News.com.au
6 days ago
- Business
- News.com.au
Lunch Wrap: ASX inches up, copper stocks rally after Ivanhoe shuts Congo mine
ASX edges up as Europe rallies on tariff truce Ivanhoe tremors jolt copper stocks higher Telstra plots leaner, meaner five-year plan The ASX tiptoed modestly higher Tuesday morning, up by just 0.15%. With Wall Street and London both closing for the long weekend, local traders took their cue from the Old Continent, where stocks jumped after Trump hit pause on his 50% EU tariff threats. Nasdaq 100 futures also climbed, feeding optimism into tech-heavy local names like WiseTech Global (ASX:WTC) and Technology One (ASX:TNE) this morning. One stock to watch this week is Nvidia. The chip king reports its results Wednesday US time, and markets will be hanging on every word to see if the AI boom still has legs. Also on deck is the all-crucial US Fed's preferred inflation gauge, the PCE index, due Friday. A soft read here could give equities another lift. Back home on the ASX, the spark this morning came from copper stocks. Capstone Copper Corp (ASX:CSC) jumped 6.5% and Sandfire Resources (ASX:SFR) added 2.5% after Canadian giant Ivanhoe Mines pulled its guidance from its flagship Congo project, Africa's biggest copper mine. Ivanhoe said underground tremors over the weekend forced another shutdown at the Kakula mine. No one was hurt, but the situation is dicey with seismic jolts still hitting. This is where things stood at about 12:30pm AEST: In large caps news, Telstra (ASX:TLS) dipped 0.5% after unveiling a new five-year plan. TLS is lifting its return-on-invested-capital target to 10% by 2030, up from 8%, and wants earnings to grow faster than costs. Insurance Australia (ASX:IAG) gave the market an early look at flood impacts from the NSW mid-north coast and Hunter region, tallying about 2,500 claims so far. It's too soon for a final bill, but the insurer noted its net costs were sitting at $900 million by end of April. ASX SMALL CAP WINNERS Here are the best performing ASX small cap stocks for May 27 : Security Description Last % Volume MktCap IFG Infocus Group 0.011 120% 58,368,339 $1,312,134 AAU Antilles Gold Ltd 0.006 100% 14,488,082 $6,379,103 BMO Bastion Minerals 0.0015 50% 3,500,000 $903,628 DTM Dart Mining NL 0.004 33% 14,968,168 $3,594,167 TKL Traka Resources 0.002 33% 500,000 $3,188,685 VPR Voltgroupltd 0.002 33% 650,000 $16,074,312 DTR Dateline Resources 0.072 31% 102,352,401 $155,089,566 SHN Sunshine Metals Ltd 0.0085 21% 8,287,232 $14,613,514 HIO Hawsons Iron Ltd 0.019 19% 1,979,893 $16,264,022 A1G African Gold Ltd. 0.16 19% 1,423,317 $64,802,677 DXN DXN Limited 0.035 17% 2,032,316 $8,961,109 TMK TMK Energy Limited 0.0035 17% 251,278 $30,667,149 YAR Yari Minerals Ltd 0.007 17% 2,803,749 $3,328,269 AUG Augustus Minerals 0.029 16% 408,484 $2,979,786 CVR Cavalier Resources 0.19 15% 62,666 $9,543,966 D3E D3 Energy Limited 0.115 15% 25,000 $7,947,501 OIL Optiscan Imaging 0.125 14% 247,732 $91,887,488 SYA Sayona Mining Ltd 0.017 13% 55,151,481 $173,149,440 BVR Bellavista Resources 0.35 13% 16,993 $31,273,592 PCK Painchek Ltd 0.054 13% 1,635,674 $88,412,102 SRI Sipa Resources Ltd 0.0135 13% 4,952,177 $4,996,780 STK Strickland Metals 0.135 13% 12,916,873 $271,483,176 TAT Tartana Minerals Ltd 0.045 13% 44,444 $8,565,836 FBM Future Battery 0.018 13% 536,953 $10,700,895 InFocus Group Holdings (ASX:IFG) has locked in a juicy US$3.25 million contract to build an end-to-end iGaming platform for Taiwanese outfit TG Solutions. It's the second big win for InFocus in the digital gaming space. The platform will be white-labelled for TG's customers and packed with features like real-time odds (inspired by Polymarket), crypto payments, tokenised rewards, digital collectibles, and AI-powered analytics. Antilles Gold (ASX:AAU) has signed two offtake deals for all the gold and copper-gold concentrate from its Nueva Sabana mine in Cuba. The buyer is a major global commodities trader, and the gold pricing has come in 12% above what was in the original feasibility study. The contracts run for the mine's 4.5-year life, with shipments expected every two weeks and fast payments based on global metal prices. Dateline Resources (ASX:DTR) has found signs the gold system at its Colosseum Project in California could run deeper and wider than first thought. New sampling west of the old pits shows strong geochemical markers pointing to hidden breccia pipes. Most of the ground has never been properly tested, and a rare earths project review is due in early June. Sunshine Metals (ASX:SHN) is picking up the high-grade Sybil gold project in Queensland, locking in a $1.225 million deal from an unrelated, private party. Sybil is near Charters Towers and has strong early hits, including 7m at 10.6g/t gold and rock chips grading up to 907g/t. It hasn't seen much action in 20 years, but SHN reckons it looks a lot like the nearby 4Moz Pajingo system. Vulcan Energy Resources (ASX:VUL) has fired up drilling on the fifth well of its Lionheart lithium project in Schleidberg. The company says full execution, including pipeline and plant works, will kick off once financing is sorted. It's aiming to pump out 24,000 tonnes of lithium hydroxide monohydrate per year. ASX SMALL CAP LOSERS Here are the worst performing ASX small cap stocks for May 27 : Code Name Price % Change Volume Market Cap LNR Lanthanein Resources 0.001 -50% 113,750 $4,887,272 AOK Australian Oil 0.002 -33% 726,153 $3,005,349 CZN Corazon Ltd 0.001 -33% 460,000 $1,776,858 ALM Alma Metals Ltd 0.003 -25% 325,110 $6,345,381 AW1 American West Metals 0.04 -22% 3,835,385 $30,382,869 HLX Helix Resources 0.002 -20% 465,000 $8,410,484 JAV Javelin Minerals Ltd 0.002 -20% 100,000 $15,115,373 FCT Firstwave Cloud Tech 0.014 -18% 258,457 $29,129,818 MEL Metgasco Ltd 0.0025 -17% 373,000 $4,372,760 OVT Ovanti Limited 0.0025 -17% 4,133,795 $8,380,545 VEN Vintage Energy 0.005 -17% 863,620 $11,982,791 VML Vital Metals Limited 0.0025 -17% 700,000 $17,685,201 BUS Bubalusresources 0.11 -15% 257,500 $7,330,047 CML Connected Minerals 0.14 -15% 70,873 $6,824,105 CBE Cobre 0.036 -14% 1,404,782 $18,464,878 AN1 Anagenics Limited 0.006 -14% 1,223,965 $3,474,243 ARV Artemis Resources 0.006 -14% 1,051,327 $17,699,705 FAU First Au Ltd 0.003 -14% 250,000 $7,251,976 GLL Galilee Energy Ltd 0.006 -14% 1,271,297 $4,950,350 RDN Raiden Resources Ltd 0.006 -14% 2,037,572 $24,156,240 TYX Tyranna Res Ltd 0.003 -14% 57,308 $11,509,489 ADG Adelong Gold Limited 0.007 -13% 2,094,296 $11,179,890 ADO Anteotech Ltd 0.007 -13% 1,544,048 $21,642,403 AX8 Accelerate Resources 0.007 -13% 110,300 $6,377,510
Yahoo
6 days ago
- Business
- Yahoo
Underground Mining Activities at Kakula Mine Suspended; Remediation Work Continues in Western Section of Kakula
Phase 1 and 2 concentrators continue operating, supplied by stockpiles Operations at Kamoa Mine and Phase 3 concentrator continue normal operations Ivanhoe Mines and Zijin committed to restore Kakula Mine back into production as soon as safely possible Kolwezi, Democratic Republic of the Congo--(Newsfile Corp. - May 26, 2025) - Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) Executive Co-Chairman Robert Friedland and President and Chief Executive Officer Marna Cloete today provide an operational update on the Kamoa-Kakula Copper Complex in the Democratic Republic of the Congo, following the temporary suspension of operations at the Kakula underground mine, as first announced by the company on May 20, 2025. Senior management and a world-class team of geotechnical experts continue to conduct a thorough investigation of the mine to understand the cause and effect of the seismic activity. Seismic activity at the Kakula underground mine has continued to occur intermittently over the past few days. Given the recent seismic activity, underground activities were suspended again on Saturday, May 25, 2025, with employees safely brought above ground and mobile equipment removed from the mine workings. The safety of employees and contractors remains paramount, and zero lost time injuries have been reported. Preliminary indications are that seismic activity at the Kakula underground could potentially continue for weeks, which would inhibit access to the mine and prolong the temporary suspension of operations at Kakula. As a result of the impact on underground pumping and electrical infrastructure, to date, there has been an increase in water inflow levels into the Kakula underground mine. Kamoa Copper, with support from Ivanhoe and Zijin Mining, is currently preparing detailed dewatering plans, including the acquisition of additional pumping equipment to increase pumping capacity and allow for dewatering from surface. Ivanhoe would like to thank its Chinese partners Zijin and CITIC Metal for their assistance in procuring additional equipment for the dewatering efforts. Ivanhoe Mines' President and Chief Executive Officer, Marna Cloete commented: "I would like to extend my profound thanks to our dedicated workforce, who have shown exceptional resilience and commitment while working under challenging conditions during the recent seismic activity. The safety of our employees is our highest priority, and it is testament to the professionalism and focus of everyone at Kamoa Copper that we have recorded no injuries in a dynamic environment. "While underground mining operations are temporarily suspended at Kakula, we are focusing our efforts on maintaining pumping and water management infrastructure, including accelerating procurement for dewatering equipment from surface. We are working around the clock with the world's foremost geotechnical experts to establish the cause of the issues we faced and how we will resolve them. "We maintain significant optionality to maintain Kakula's concentrator operations from surface stockpiles, or potentially temporarily re-deploy Kakula employees and equipment to Kamoa Mine, which continues uninterrupted." Ivanhoe Mines' Founder and Executive Co-Chairman, Robert Friedland commented: "We are going to gain wisdom and experience from the events that have unfolded in the past week. Ivanhoe, together with our partner Zijin, is operating in complex, high-grade sedimentary copper systems on a scale not seen before globally. What has transpired will give us valuable insight into managing geotechnical conditions and maintaining critical pumping infrastructure, which will allow us to future-proof and safely restart mining operations at Kakula … and such learnings will be applied in earnest to our activities at Kamoa and in the Western Forelands. "I remind readers that SpaceX - today responsible for approximately 90% of total payload launched into space by humanity - did not attain this status without numerous setbacks. Each setback brought their team new knowledge, making the mission stronger... and so we approach our operations at Kamoa-Kakula with the same mindset. Together we plan to restore operations to be safer and stronger than ever." As underground areas are deemed safe for crews to return, the initial focus will be to inspect, repair, and restart pump stations and associated piping, as well as electrical substations and associated cabling. Remediation work continues in the shallower western sections of the Kakula Mine, where current dewatering rates are approximately 1,000 litres per second (L/s). Kamoa Copper's engineering team is focused on restoring underground pumping capacity to over 3,000 L/s, which is deemed sufficient to stabilize water levels. In parallel, the management team intends to install at all of our mines high-capacity pumping systems that can operate from surface as permanent infrastructure. Surface infrastructure at Kakula, including the Phase 1 and 2 concentrators and direct-to-blister smelter, remains completely unaffected. The Phase 1 and 2 concentrators are currently processing ore from surface stockpiles. Mining activities at the Kamoa underground mine and processing at the adjacent Phase 3 concentrator continue to operate normally. Kamoa-Kakula's 2025 production and cost guidance, along with the ramp-up schedule for the direct-to-blister smelter, have been withdrawn pending review. Ivanhoe will provide further updates as more information is available. Ivanhoe and Zijin continue to work collaboratively under a strong partnership at the joint-venture level and are committed to returning Kakula back to production as soon as safely possible. About Ivanhoe Mines Ivanhoe Mines is a Canadian mining company focused on advancing its three principal projects in Southern Africa; the expansion of the Kamoa-Kakula Copper Complex in the DRC, the ramp-up of the ultra-high-grade Kipushi zinc-copper-germanium-silver mine, also in the DRC; and the phased development of the tier-one Platreef platinum-palladium-nickel-rhodium-gold-copper Mine in South Africa. Ivanhoe Mines is exploring for copper in its highly prospective, 54-100% owned exploration licences in the Western Forelands, covering an area over six times larger than the adjacent Kamoa-Kakula Copper Complex, including the high-grade discoveries in the Makoko District. Ivanhoe is also exploring for new sedimentary copper discoveries in new horizons including Angola, Kazakhstan, and Zambia. Follow Robert Friedland (@robert_ivanhoe) and Ivanhoe Mines (@IvanhoeMines_) on X. Information contact Investors Vancouver: Matthew Keevil +1.604.558.1034 London: Tommy Horton +44 7866 913 207 Media Tanya Todd +1.604.331.9834 Forward-looking statements Certain statements in this news release constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws. Such statements and information involve known and unknown risks, uncertainties, and other factors that may cause the actual results, performance, or achievements of the company, its projects, or industry results to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified using words such as "may", "would", "could", "will", "intend", "expect", "believe", "plan", "anticipate", "estimate", "scheduled", "forecast", "predict" and other similar terminology, or state that certain actions, events, or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. These statements reflect the company's current expectations regarding future events, performance, and results and speak only as of the date of this news release. Such statements include, without limitation: (i) statements that the Phase 1 and Phase 2 concentrators will continue to be supplied by stockpiles; (ii) statements that seismic activity at the Kakula underground if it continues for weeks, would inhibit access to the mine and prolong the temporary suspension of operations as Kakula; (iii) statements that once underground access is deemed safe, crews will focus on inspecting, repairing, and restarting pump stations and associated piping, as well as electrical substations and associated cabling; and, (iv) statements that Kamoa-Kakula's 2025 production and cost guidance, along with the ramp-up schedule for the direct-to-blister smelter, have been withdrawn pending review. In addition, that Ivanhoe will provide further updates as more information is available. Forward-looking statements and information involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indicators of whether such results will be achieved. Many factors could cause actual results to differ materially from the results discussed in the forward-looking statements or information, including, but not limited to; (1) uncertainty around the rate of water ingress into underground workings, (2) the ability, and speed of which, additional equipment can be secured, (3) the continuation of seismic activity, (4) the state of underground infrastructure, (5) uncertainty around when future underground access can be secured, (6) future mine stability cannot be guaranteed (7) future mining methods, may differ the impact on Kakula operations. The factors discussed above and under the "Risk Factors" section in the company's MD&A for the three months ended March 31, 2025, and its current annual information form, and elsewhere in this news release, as well as unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of parties to contracts with the company to perform as agreed; social or labour unrest; unexpected geotechnical changes to mine operations, changes in commodity prices; and the failure of exploration programs or studies to deliver anticipated results or results that would justify and support continued exploration, studies, development or operations. Although the forward-looking statements contained in this news release are based upon what management of the company believes are reasonable assumptions, the company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release. The company's actual results could differ materially from those anticipated in these forward-looking statements as a result of the factors outlined in the "Risk Factors" section in the company's MD&A for the three months ended March 31, 2025, and its current annual information form. To view the source version of this press release, please visit
