Kipushi Mine

Company Description

The Kipushi Project, is situated in the southeast of the company'sKamoa discovery, adjacent to the town of Kipushi and approximately30 kilometres southKipushi Minest of the provincial capital of Lubumbashi.Ivanhoe Mines acquired its 68% interest in the Kipushi Project inNovember 2011; the balance of 32% is held by the DR Congo'sstate-owned mining company, Gacamines. The Kipushi copper mine isbased on the high-grade, underground zinc-copper mine in theCentral African Copper belt, which produced approximately 60million tonnes of ore grading 11% zinc and 7% copper between 1924and 1993. It also produced 12, 673 tonnes of lead and approximately278 tonnes of germanium between 1956 and 1978. The mine has beenmanaged on a care and maintenance basis since 1993. Historicalestimates of the Big Zinc's resources between the mine's 1, 295-and 1, 500- metre levels total 4.7 million tonnes averaging 39%zinc and 0.76% copper. Several exploration holes confirmed thecontinuation of the Big Zinc Deposit below the 1, 640-metre level.Kipushi's historical resource estimates above the 1, 500 - metrelevel total approximately 17 million tonnes averaging 16.7% zincand 2.3% copper, including the Big Zinc historical resources.