Canadian mining company Ivanhoe Mines, which is advancing base metal and platinum group metal projects in the Democratic Republic of Congo (DRC) and South Africa, has entered into a memorandum of understanding (MoU) with the Zambia Ministry of Mines and Minerals Development on the co-development of prospective mining projects in the country.

The MoU outlines how Ivanhoe, which has applied for a significant exploration licence package in Zambia, intends to co-develop prospective projects in partnership with the Ministry to ensure the long-term sustainable development of Zambia’s mineral resources, while providing a sustainable contribution to the Zambian economy and its communities.

The MoU signing ceremony was attended by Zambia Mines and Minerals Development Minister Paul Kabuswe and Ministry Permanent Secretary Dr Hapenga Kabeta, as well as members of Ivanhoe’s senior management team.

Under the terms of the MoU, the Ministry will identify prospective land packages; provide access to existing and new geological data collected by the Zambian government, including the recently announced 750 000 km² country-wide airborne geophysical survey; provide guidance and support in relation to the application of new licences; and provide a stable and predictable fiscal and regulatory environment.

Ivanhoe intends to invest in exploration and project development activities following the same model of success that led to the discovery and development of the world-class Kamoa-Kakula Copper Complex in the DRC. Ivanhoe has committed to complying with all applicable legislation and to conduct exploration activities in collaboration with the Geological Survey of Zambia, with a view to co-developing viable projects in a joint venture with the Zambian government.

“The MoU is more than just an agreement on paper; it is a promise and commitment to work together in good faith, to build on shared interests and to strive for excellence in all our endeavours. The Zambian government, through the Ministry of Mines, remains committed to supporting investors by providing the necessary regulatory frameworks and infrastructure that will enable such investments to flourish.

“Zambia is open for business and committed to maintaining an environment that attracts and retains investment by demonstrating our readiness to work with industry leaders like Ivanhoe to realise the full potential of our natural resources," Kabuswe says.

“Ivanhoe is just getting started in expanding our global exploration footprint to discover more of the vital green metals that the world so desperately needs for advanced industrialisation and electrification. Over the past 20 years, our geologists have discovered over 50-million tonnes of copper under the western edge of the Central African Copperbelt in the DRC . . . an area we now call the Western Foreland shelf.

"Leveraging our decades of experience, and by thinking outside the box, we turned what was previously believed to be an unmineralised region, into one of the world’s newest and most prolific copper production districts. We are now entering Zambia, as well as Angola, where we have high conviction that new discoveries are waiting to be uncovered," says Ivanhoe co-chairperson Robert Friedland.