Kipushi Mining Company in the Democratic Republic of Congo has signed an acquisition agreement and a $250 million financing agreement with Glencore.
Kipushi Mining Company is a joint venture between Ivanhoe Mining and G é camines, a state-owned mining company in the Democratic Republic of Congo. The current plan is that Kipushi Mine will produce the first batch of concentrate, including zinc/copper/lead/germanium ore, in the third quarter of 2024.
This acquisition is aimed at all of Kipushi's zinc concentrates, with an expected annual zinc production of between 400000 and 600000 tons over a 5-year period. The $250 million financing will be divided into two parts and drawn quarterly, subject to the conditions precedent.
Contact Person: Amy
Tel: 0086 15600215719