Kamoa Copper Project — 2012 Technical Report

Executive Summary

The Kamoa Copper Project Preliminary Economic Assessment (PEA) outlines a long-term underground mining operation located in the Katanga Province of the Democratic Republic of Congo. The project is designed to process 5 million metric tonnes per annum (Mtpa) of ore, primarily utilizing a room-and-pillar mining method with initial open pit feed. The concentrator is configured with an MF2 circuit, featuring primary and secondary ball mills followed by a complex flotation circuit including roughers, scavengers, and multiple cleaner stages. The concentrate is processed on-site via a Direct to Blister Flash Smelting (DBF) technology, producing blister copper and sulphuric acid as saleable products.

Economic analysis of the project indicates a Net Present Value (NPV) of US$1.16 billion at a 10% discount rate, with an after-tax internal rate of return (IRR) of 17.0% and a payback period of 5.29 years. The mine life is estimated at 61 years based on a mineral inventory of 299 Mt. The project is currently in the development phase following the granting of an Exploitation Permit in August 2012, with a focus on further drilling and engineering studies to advance to a Feasibility Study.

Key operational parameters include a copper feed grade of 3.30% and a designed recovery of 85.4% at a concentrate grade of 32.8% Cu. The smelter has a capacity of 660,000 tpa concentrate, corresponding to 182,260 tpa copper product. Cobalt recovery is conceptually included in the smelter design but is not currently part of the revenue stream. The project relies on refurbished hydroelectric power plants and road logistics for supply chain management.

Key Commodities

• Copper
• Sulphuric Acid (By-product)
• Cobalt (Potential)

Processing Methods

• Crushing: Primary Jaw Crusher, Secondary/Tertiary Cone Crushers
• Milling: Primary Ball Mill (25 ft), Secondary Ball Mill (19 ft), IsaMill (Regrind)
• Flotation: Rougher, Scavenger, Cleaner, Re-cleaner
• Smelting: Direct to Blister Flash Smelting (DBF), Slag Cleaning Furnace (SCF), Cobalt Reduction Furnace (CoRF)

Reports

Website: https://www.ivanhoemines.com/what-we-do/operations-projects/kamoa-kakula-mining-complex/

Report Date: 2012

Region: Katanga Province, DRC

Project Status: Development

Commodity: Copper

Throughput: 5,000,000 tpa

Mine Life: 61 years

Mine Type: Underground

Ore type: