Ivanhoe in talks over Platreef
Tuesday, July 28th, 2020
Ivanhoe Mines co-chairperson Robert Friedland
The company points out that a number of mining companies have expressed an interest in advancing exploration activities at the wholly-owned Western Forelands copper project, which is adjacent to the Kamoa-Kakula licence. It adds that it is also in strategic discussions regarding its Kipushi zinc/copper/silver/lead/germanium mine, also in the DRC.
“2020 has been an extraordinary year in many ways. In our industry, it has seen a remarkable rebound in metals prices. The weighted ‘basket’ of the prices for palladium, rhodium, gold and nickel, measured in South African rand terms, is near all-time highs. Copper has hit two-year highs, silver is at seven-year highs and gold has surpassed its 2011 peak to reach an all-time high above $1 900/oz. Our tier-one projects in Africa will produce all of these metals.
“Not surprisingly in this environment, we have been receiving daily inquiries from companies across the industry and world, from the West as well as China, and from streaming companies and various bank and nonbank lenders, inquiring about investing in these great projects. That level of interest requires that we critically examine these opportunities, which we are now doing,” he adds.
The company states that it will inform shareholders in the event that the discussions lead to potential discussions.