JOHANNESBURG (Reuters) – Ivanhoe Mines has signed an agreement with Democratic Republic of Congo’s state mining company Gecamines to bring the Kipushi zinc mine back into commercial production, the Canada-listed miner said on Monday.
Kipushi will have an average grade of 36.4% zinc over the first five years of production, Ivanhoe said.
The deal, signed by Ivanhoe’s fully-owned subsidiary Kipushi Holding, sets out commercial terms towards a new joint-venture agreement, and is subject to execution of definitive documentation, Ivanhoe said.
(Reporting by Helen Reid; editing by Jason Neely)
