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Billionaire Robert Friedland Plans World's No. 2 Copper Mine

  • Ivanhoe Mines’ Congo deposit could produce 700,000 tons a year
  • Sanford Bernstein says mining region is world’s most exciting
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Billionaire investor Robert Friedland said the copper deposit Ivanhoe Mines Ltd. is developing in the Democratic Republic of Congo has the potential to become the world’s No. 2 mine for the metal.

“Kamoa-Kakula will become the world’s second-largest copper mine with peak annual production of more than 700,000 tons of copper metal,” Ivanhoe founder Friedland said Wednesday at a mining conference in Cape Town.