The Kipushi zinc-copper-lead-germanium mine in the Democratic Republic of the Congo (DRC) officially reopened, with a ribbon-cutting ceremony led by President Félix Tshisekedi. This high-grade mine, which is a joint venture between Ivanhoe Mines and DRC state-owned mining company Gécamines, marks a significant milestone for both the local economy and sustainable resource development.
The ceremony was attended by notable figures including First Lady Denise Nyakeru Tshisekedi, the President of the Senate, three vice prime ministers, eight national ministers, and the governor of Haut-Katanga. The news of the mine’s reopening had a positive impact on Ivanhoe Mines’ stock, which rose 2% to C$19.10, giving the Vancouver-based company a market capitalization of C$25.8 billion ($18.5 billion).
Production at the Kipushi mine resumed in June, after being put on care and maintenance for 31 years. This marks exactly 100 years since the mine first began operations. The restart of the mine represents a pivotal moment not only for the mining sector but also for the surrounding local communities, offering new opportunities for economic growth and development.
“The reopening of the Kipushi mine represents not only a milestone for sustainable resource development but also a promise of economic empowerment for our local communities,” said Ivanhoe Mines president, Marna Cloete, in a media release.
Gécamines chairman, Guy-Robert Lukama Nkunzi, also emphasized the historical significance of the mine for the local town. “The Kipushi mine was the beating heart of Kipushi town since operations first began 100 years ago. Today, its heart has been revived, and the resumption of operations is an opportunity for a new economic paradigm,” he stated.
The Kipushi mine is expected to produce between 50,000 to 70,000 tonnes of zinc in concentrate this year, half of what Ivanhoe initially projected. Over the next five years, the mine is forecasted to average 278,000 tonnes of payable zinc production annually, helping to boost the DRC’s mining sector and support the global supply of essential metals.
