Name and Location
Kamoa copper project, Katanga, Democratic Republic of Congo (DRC).

Client
Ivanplats.

Project Description
Kamoa, located on the Central African Copperbelt, in the DRC’s Katanga province, ranks as Africa’s largest high-grade copper discovery and the world’s largest undeveloped high-grade copper discovery.

Key elements have been established for a new study to encourage the cost-effective development of a mine and processing plant at the Kamoa copper discovery.

Ivanplats is proposing two principal phases of development:
• The first phase will target production of high-grade copper mineralisation from shallow, underground resources to yield a high-value concentrate. Initial mill feed will come from Kansoko Sud and will lead into the Centrale area of Kamoa’s gently-dipping mineralised zones, which collectively contain estimated indicated resources of 224-million tonnes, grading 3.85% copper at a 3% copper cutoff and a minimum 3 m vertical mining thickness.
• Phase 2 entails a major expansion of the mine and mill, as well as the construction of a large smelter, supported by the full extent of the Kamoa resources.

Value
Not stated.

Duration
If confirmed by current studies and financial modelling, copper production from Kamoa’s first phase of development could start in 2017, subject to available financing.

Latest Developments
A refocused Kamoa development study, which will comply with the requirements set out in Canada’s National Instrument 43-101, is expected to result in the declaration of the first mineral reserves at Kamoa and to report on the establishment of an appropriately phased approach to achieve first production and the progressive expansion of the Kamoa project.

A recommended initial production rate will form part of the development study being prepared by Hatch. The study will be based on development of the estimated mineral resources described in the March 2013 Kamoa technical report, excluding inferred resources.

Ivanplats is committed to build a smelter that can serve other mines in the Katanga district, create hundreds of additional skilled jobs as part of the project’s major economic stimulus to the region and support government’s policy of adding in-country value to mineral production.

The Hatch development study will assess the most cost-effective smelter capacity and relevant smelting processes. It will also provide details on equipment, capital and operating costs, as part of an analysis of the scope of proposed mining and processing, to confirm Kamoa’s commercial viability.

The construction of the smelter partly depends on the provision of additional generating capacity within the DRC’s power supply grid.

Key Contracts and Suppliers
Hatch (development study).

On Budget and on Time?
Not stated.

Contact Details for Project Information
Ivanplats investor relations, Bill Trenaman, tel +1 604 688 6630 or email billtr@ivancorp.net.