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World Needs Congo Copper to Kick Fossil Fuels, Billionaire Says

  • Friedland’s Ivanhoe plans to develop world’s No. 2 copper mine
  • Mining magnate compares DRC with Saudi Arabia in the 1950s
Ivanhoe started producing concentrates late last month at its Kamoa-Kakula venture with partners Zijin Mining Group Co. and the DRC government.
Ivanhoe started producing concentrates late last month at its Kamoa-Kakula venture with partners Zijin Mining Group Co. and the DRC government.

Source: Ivanhoe

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An African nation emerging from decades of conflict and corruption holds the key to greening the global economy.

That’s the view of mining magnate Robert Friedland, whose Kamoa-Kakula venture just started producing copper in the Democratic Republic of the Congo. After scouring 59 countries over more than three decades, the Canadian billionaire says Congo has the world’s best deposits of the metal used in everything from electric cars to solar panels and power grids.