Ivanhoe Mines Commences Exploration for Sediment-hosted Copper in Central Kazakhstan
Ivanhoe Mines has formed an Exploration Joint Venture to explore Kazakhstan's Chu-Sarysu Copper Basin, the world's third-largest sediment-hosted copper district. The venture covers a 16,000 km2 licence package, approximately 7.5 times larger than Ivanhoe's Western Forelands Project.
The company has committed $18.7 million in exploration activities over an initial two-year period, with rights to increase ownership up to 80%. The joint venture with UK-based Pallas Resources includes access to Soviet-era exploration data. Ivanhoe can earn a majority interest by spending up to $115 million over the subsequent four years.
The Chu-Sarysu Basin hosts 27 million tonnes of known copper, with the USGS estimating approximately 25 million tonnes of undiscovered copper potential. The region includes the Zhezkazgan complex, which produces about 200,000 tonnes of copper annually.
Ivanhoe Mines ha formato una Joint Venture di Esplorazione per esplorare il bacino di rame Chu-Sarysu in Kazakistan, il terzo distretto di rame ospitato da sedimenti più grande al mondo. La joint venture copre un pacchetto di licenze di 16.000 km2, circa 7,5 volte più grande del progetto Western Forelands di Ivanhoe.
L'azienda ha impegnato 18,7 milioni di dollari in attività di esplorazione per un periodo iniziale di due anni, con diritti per aumentare la proprietà fino al 80%. La joint venture con la Pallas Resources, con sede nel Regno Unito, include l'accesso ai dati di esplorazione risalenti all'era sovietica. Ivanhoe può guadagnare una partecipazione di maggioranza spendendo fino a 115 milioni di dollari nei successivi quattro anni.
Il bacino di Chu-Sarysu ospita 27 milioni di tonnellate di rame conosciuto, con l'USGS che stima circa 25 milioni di tonnellate di potenziale rame non scoperto. La regione include il complesso di Zhezkazgan, che produce circa 200.000 tonnellate di rame all'anno.
Ivanhoe Mines ha formado una Joint Venture de Exploración para explorar la cuenca de cobre Chu-Sarysu en Kazajistán, el tercer distrito de cobre hospedado en sedimentos más grande del mundo. La empresa cubre un paquete de licencias de 16,000 km2, aproximadamente 7.5 veces más grande que el Proyecto Western Forelands de Ivanhoe.
La compañía ha comprometido 18.7 millones de dólares en actividades de exploración durante un período inicial de dos años, con derechos para aumentar la propiedad hasta 80%. La joint venture con Pallas Resources, con sede en el Reino Unido, incluye acceso a datos de exploración de la era soviética. Ivanhoe puede obtener una participación mayoritaria gastando hasta 115 millones de dólares en los siguientes cuatro años.
La cuenca de Chu-Sarysu alberga 27 millones de toneladas de cobre conocido, con el USGS estimando aproximadamente 25 millones de toneladas de potencial de cobre no descubierto. La región incluye el complejo de Zhezkazgan, que produce alrededor de 200,000 toneladas de cobre anualmente.
Ivanhoe Mines는 카자흐스탄의 추-사리수 구리 분지를 탐사하기 위해 탐사 합작투자를 설립했습니다. 이는 세계에서 세 번째로 큰 퇴적물 호스트 구리 지역입니다. 이 합작투자는 약 16,000 km2의 라이센스 패키지를 포함하며, 이는 Ivanhoe의 웨스턴 포어랜즈 프로젝트보다 약 7.5배 더 큽니다.
회사는 초기 2년 동안 탐사 활동에 1,870만 달러를 투자할 것을 약속했으며, 소유권을 최대 80%까지 늘릴 수 있는 권리가 있습니다. 영국에 본사를 둔 Pallas Resources와의 합작투자는 소련 시대의 탐사 데이터에 대한 접근을 포함합니다. Ivanhoe는 이후 4년 동안 최대 1억 1,500만 달러를 지출하여 대다수의 지분을 얻을 수 있습니다.
추-사리수 분지는 2,700만 톤의 알려진 구리를 보유하고 있으며, USGS는 약 2,500만 톤의 미발견 구리 잠재력을 추정하고 있습니다. 이 지역에는 매년 약 20만 톤의 구리를 생산하는 제즈카즈간 복합체가 포함됩니다.
Ivanhoe Mines a formé une coentreprise d'exploration pour explorer le bassins de cuivre Chu-Sarysu au Kazakhstan, le troisième plus grand district de cuivre hébergé par des sédiments au monde. La coentreprise couvre un paquet de licences de 16 000 km2, environ 7,5 fois plus grand que le projet Western Forelands d'Ivanhoe.
L'entreprise s'est engagée à investir 18,7 millions de dollars dans des activités d'exploration sur une période initiale de deux ans, avec des droits d'augmenter la propriété jusqu'à 80%. La coentreprise avec Pallas Resources, basée au Royaume-Uni, inclut l'accès à des données d'exploration de l'époque soviétique. Ivanhoe peut obtenir une participation majoritaire en dépensant jusqu'à 115 millions de dollars au cours des quatre années suivantes.
Le bassin de Chu-Sarysu abrite 27 millions de tonnes de cuivre connu, l'USGS estimant environ 25 millions de tonnes de potentiel de cuivre non découvert. La région comprend le complexe de Zhezkazgan, qui produit environ 200 000 tonnes de cuivre par an.
Ivanhoe Mines hat ein Explorationsjointventure gegründet, um das Chu-Sarysu Kupferbecken in Kasachstan zu erkunden, das drittgrößte Kupfergebiet der Welt, das in Sedimenten gehostet wird. Das Joint Venture umfasst ein Lizenzpaket von 16.000 km2, das etwa 7,5-mal größer ist als Ivanhoes Western Forelands Projekt.
Das Unternehmen hat 18,7 Millionen Dollar für Explorationsaktivitäten über einen anfänglichen Zeitraum von zwei Jahren zugesagt, mit dem Recht, den Eigentumsanteil auf bis zu 80% zu erhöhen. Das Joint Venture mit dem britischen Unternehmen Pallas Resources umfasst den Zugang zu Erkundungsdaten aus der Sowjetzeit. Ivanhoe kann durch Investitionen von bis zu 115 Millionen Dollar in den folgenden vier Jahren eine Mehrheitsbeteiligung erwerben.
Das Chu-Sarysu-Becken beherbergt 27 Millionen Tonnen bekannten Kupfers, wobei das USGS etwa 25 Millionen Tonnen unentdecktes Kupferpotenzial schätzt. Die Region umfasst den Zhezkazgan-Komplex, der jährlich etwa 200.000 Tonnen Kupfer produziert.
- Access to world's third-largest sediment-hosted copper basin with 27 million tonnes of known copper
- Largest land-holding position in the region with 16,000 km² license package
- Potential to discover additional 25 million tonnes of copper according to USGS estimates
- Structured deal with initial low commitment ($18.7M) and option to increase ownership to 80%
- Significant capital expenditure required ($115M) to earn majority interest
- No exploration in the region for over 40 years, indicating potential challenges
- Region requires new exploration efforts with uncertain outcomes
Joint venture formed to explore Chu-Sarysu Basin, the world's third-largest sedimentary copper basin
Licence package of up to 16,000 km2, the largest in the Chu-Sarysu Copper Basin
Ivanhoe to leverage its decades of exploration expertise in discovering Tier-One sediment-hosted copper deposits in the Western Foreland shelf
Almaty, Kazakhstan--(Newsfile Corp. - February 12, 2025) - Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) Executive Co-Chairman Robert Friedland and President Marna Cloete announced today that an Exploration Joint Venture has been formed to explore the Chu-Sarysu Copper Basin in Kazakhstan, the world's third-largest sediment-hosted copper district.
The Joint Venture, with UK-based private company Pallas Resources, covers a highly prospective licence package of up to 16,000 km2, which spans an accumulated dataset of Soviet-era exploration data. For comparison, the licence package is approximately 7.5 times the size of Ivanhoe's Western Forelands Exploration Project.
Ivanhoe has committed to fund
Ivanhoe Founder and Executive Co-Chairman Robert Friedland commented:
"You may be wondering why we are going to Kazakhstan? It is because Kazakhstan is a major mining jurisdiction and host to the world's third largest sedimentary copper basin. The Ivanhoe Group has a long history in Kazakhstan …we love the country, we love its people and we look forward to returning to this tremendous country to further unlock the significant geological potential of the Chu-Sarysu Basin.
"We know how to find tier-one sedimentary copper deposits, and we know how to mine them. The landmark development of the Kamoa-Kakula Copper Complex and the expanding discoveries of the Western Forelands, in the Democratic Republic of Congo, are testament to this. We will be building on our successes over the past 28 years here, where we have discovered over 50 million tonnes of copper… and counting.
"Ivanhoe's strategic partnership marks an exceptional opportunity to utilize our exploration expertise in one of the world's most prospective sedimentary copper basins. With over 16,000 km² of license applications in the Chu-Sarysu Basin-the largest land-holding position in the region-we are poised to become one of the most significant global copper exploration stories.
"With a legacy of accomplishments in emerging mineral jurisdictions, including Kazakhstan, Ivanhoe takes pride in applying its expertise to generate lasting value for our shareholders and the communities in which we operate. Our commitment extends beyond discovering vital copper resources, focusing on sustainable development and creating long-lasting economic opportunities in Kazakhstan.
"This partnership marks an excellent addition to our growing copper exploration portfolio to further accompany the rapidly advancing Western Forelands licenses adjacent to Kamoa-Kakula. Western Forelands underpins the next stage of our aggressive copper production growth story, and we expect to update the market on these exciting exploration efforts in the Democratic Republic of Congo shortly."
Kazakhstan's Chu-Sarysu Basin is the world's third-largest sedimentary copper basin, after the prolific Central African Copperbelt
The Chu-Sarysu is the world's third-largest sediment-hosted copper basin, after the Central African Copperbelt and European Kupferschiefer, hosting 27 million tonnes of known copper.
It includes major deposits such as the 100-year-old Zhezkazgan complex, which contains over 22 million tonnes of copper. The vast complex produces approximately 200,000 tonnes of copper per annum, along with significant silver by-products, from one open pit mine and 6 underground mines.
The United States Geological Survey (USGS) estimates that there remains approximately 25 million tonnes of undiscovered copper in the Chu-Sarysu Basin, highlighting its untapped potential. In addition, the basin includes occurrences of lead, zinc, silver, barium and strontium. Despite its significant prospectivity, greenfield exploration has been largely neglected across the entire region for over 40 years.
The Joint Venture intends to leverage Ivanhoe Mines' decades of exploration success in discovering over 50 million tonnes of sediment-hosted copper deposits in the Western Foreland shelf of the Democratic Republic of Congo, including the Kamoa, Kakula, Makoko and Kitoko discoveries.
The world's richest sediment-hosted copper districts, with the Chu-Sarysu basin ranked as the third-largest worldwide.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3396/240537_06534c7b74e6fa64_002full.jpg
Ivanhoe searches for the next major copper discovery over a 16,000-km2 licence package, 7.5 times the size of the Western Forelands
Ivanhoe has acquired an initial
After the initial two-year period, Ivanhoe has the right to earn a majority interest by spending up to
In the event of a major new copper discovery, Ivanhoe can earn up to an
Map of Kazakhstan's major copper producing regions and major copper operations. According to USGS, the Chu-Sarysu Basin, contains approximately 25 million tonnes of undiscovered sediment-hosted copper.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3396/240537_06534c7b74e6fa64_003full.jpg
Kazakhstan is a low-cost, mining-friendly jurisdiction that is underexplored
Kazakhstan has a rich history in mining. The Central Asian country currently ranks as the world's largest uranium producer, the world's second-largest chromite producer, and is also a major producer of copper, zinc, iron ore and coal. Mining and quarrying currently account for approximately
Kazakhstan is a highly cost-effective jurisdiction for mineral exploration and mining, with a skilled workforce and a relatively low cost of operations, including labour and power.
Despite its geological potential, exploration expenditure in Kazakhstan has notably lagged behind other major mining jurisdictions. On average, approximately
About Ivanhoe Mines
Ivanhoe Mines is a Canadian mining company focused on advancing its three principal projects in Southern Africa; the expansion of the Kamoa-Kakula Copper Complex in the DRC, the ramp-up of the ultra-high-grade Kipushi zinc-copper-germanium-silver mine, also in the DRC; and, the phased development of the tier-one Platreef palladium-nickel-platinum-rhodium-copper-gold project in South Africa.
Ivanhoe Mines is also exploring across its highly prospective, 60
Information contact
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Forward-looking statements
Certain statements in this release constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws. Such statements and information involve known and unknown risks, uncertainties, and other factors that may cause the actual results, performance, or achievements of the company, its projects, or industry results, to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified using words such as "may", "would", "could", "will", "intend", "expect", "believe", "plan", "anticipate", "estimate", "scheduled", "forecast", "predict" and other similar terminology, or state that certain actions, events, or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. These statements reflect the company's current expectations regarding future events, performance, and results and speak only as of the date of this release.
Such statements include without limitation: (i) statements that the Joint Venture covers a highly prospective licence package of up to 16,000 km2, which is approximately 7.5 times the size of Ivanhoe's Western Forelands Exploration Project; (ii) statements that Ivanhoe commits to fund
Forward-looking statements and information involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indicators of whether such results will be achieved. Many factors could cause actual results to differ materially from the results discussed in the forward-looking statements or information, including, however not limited to, the factors discussed above and under the "Risk Factors" and elsewhere in the company's MD&A for the three and nine months ended September 30, 2024 and in its current annual information form, as well as unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of parties to contracts with the company to perform as agreed; social or labour unrest; changes in commodity prices; and the failure of exploration programs or studies to deliver anticipated results or results that would justify and support continued exploration, studies, development or operations.
Although the forward-looking statements contained in this release are based upon what management of the company believes are reasonable assumptions, the company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this release.
The company's actual results could differ materially from those anticipated in these forward-looking statements as a result of the factors outlined in the "Risk Factors" section in the company's MD&A for the three and nine months ended September 30, 2024 and its current annual information form.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/240537
FAQ
What is the size of Ivanhoe Mines' new license package in Kazakhstan's Chu-Sarysu Basin?
How much is IVPAF investing in the initial exploration phase in Kazakhstan?
What percentage ownership can IVPAF earn in the Kazakhstan joint venture?
How much copper is estimated to be undiscovered in the Chu-Sarysu Basin?
What is the total investment required for IVPAF to earn a majority interest?
