Development of Ivanplats' Kamoa Copper Discovery Not Affected by Reported DRC
Decree Banning Exports of Copper Concentrate
LONDON, UNITED KINGDOM -- (Marketwired) -- 04/17/13 -- The following
statement was issued today in response to questions received
following the publication in international media of comments
attributed to the Mines Minister for the Democratic Republic of
Ivanplats Limited (TSX:IVP) said today the company's planned
development of its Kamoa copper discovery would not be negatively
impacted by a reported decree, signed by two cabinet ministers of the
Democratic Republic of Congo, to prohibit exports of cobalt and
Ivanplats will seek clarification of the comments attributed to the
DRC's Mines Minister, Martin Kabwelulu, in which the minister
reportedly stated that mining companies will be required to add value
to concentrates through further processing within three months.
Based on information presently available, such a reported new policy,
if eventually confirmed and detailed under law, will not affect
Ivanplats' Kamoa Project.
Investors should note the following relevant considerations, as
previously reported by Ivanplats in its Kamoa Technical Report and
other disclosure documents filed on the SEDAR website at
-- Ivanplats' Kamoa Project is approximately three years away from its
planned initial production of copper concentrate.
-- Ivanplats' development plans always have included what would become the
DRC's first smelter, which would produce an upgraded product other than
concentrate, plus sulphuric acid that is required by the domestic
Congolese copper industry to process oxide copper concentrate.
-- The DRC's mining code presently permits the export of concentrate if the
export can be shown to be beneficial to the DRC and also with the
payment of applicable taxes to the DRC government.
Ivanplats (TSX:IVP), with offices in Canada, the United Kingdom and
South Africa, is advancing and developing its three principal
-- The Kamoa copper discovery in a previously unknown extension of the
Central African Copperbelt in the DRC.
-- The Platreef Discovery of platinum-group elements, nickel, copper and
gold on the Northern Limb of the Bushveld Complex in South Africa.
-- The historic, high-grade Kipushi zinc-copper mine, also on the
Copperbelt in the DRC and now being dewatered and upgraded to support a
future return to production of copper, zinc and other metals following a
care-and-maintenance program conducted between 1993 and 2011.
Ivanplats also is evaluating other opportunities as part of its
objective to become a broadly based international mining company.
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