Ivanhoe Mines Ltd (IVPAF)

[JB3729]

Freeport McMoran’s Tenke Fungurume is the largest copper producer in the Democratic Republic of Congo (DRC). They have been producing since 2009.

Gécamines owns 20%. Gécamines SA,, is a Congolese commodity trading and mining company headquartered in Lubumbashi, in the Katanga Province of the Democratic Republic of Congo. It is a state-controlled corporation founded in 1966.
http://www.fcx.com/operations/tenke/fastfacts/Tenke_fast_facts_english.pdf


Ivanhoe -

The Kipushi Project, in the DRC's province of Haut-Katanga and southeast of the company's Kamoa discovery, is adjacent to the town of Kipushi and approximately 30 kilometres southwest of the provincial capital of Lubumbashi. Ivanhoe Mines acquired its 68% interest in the Kipushi Project in November 2011; the balance of 32% is held by the DRC's state-owned mining company, Gécamines.

The DRC government holds a 5%, non-dilutable interest in the Kamoa Project, which was transferred to the government in 2012 in accordance with the DRC Mining Code. Ivanhoe has offered to transfer an additional 15% interest to the DRC government on terms to be negotiated.