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Ivanhoe Says Congo Copper Find May Be Africa’s Most Notable

  • Discovery at Kakula is ‘enormous,’ Ivanhoe Mines’ Watum says
  • Ivanhoe talking to government about boosting Congo’s stake
Updated on

Results from drilling at a copper deposit in the Democratic Republic of Congo being explored by Ivanhoe Mines Ltd. show what may prove to be the most significant discovery of the metal in Africa, the company said.

The find at Kakula, in the southern portion of Ivanhoe’s Kamoa project, is “enormous,” Ivanhoe Mines DRC Managing Director Louis Watum said at a conference in the capital, Kinshasa. Discussions are under way on how to adjust the development strategy to allocate sufficient funds to bring the new discovery into production as soon as possible, he said in an interview afterward.