Mentioned:
The global demand for copper continues to rise. And now, Ivanhoe Mines is aiming to make a new large scale discovery in Zambia.
What’s happening:
- Ivanhoe Mines (TSX: IVN) has officially been granted new exploration licenses from the Zambian government
By the numbers:
- The new licenses allow Ivanhoe Mines to explore 7,757 square kilometres in Zambia’s North-Western province
- Ivanhoe Mines will commit $50M USD into exploration, drilling and surveys
Why it matters:
- The new exploration licenses granted to Ivanhoe Mines cover large amounts of the Central African Copperbelt, which has historically contained significant deposits of high grade copper
Going deeper:
- Ivanhoe Mines has been enormously successful in making copper discoveries in the Democratic Republic of Congo, where they previously discovered more than 50M tons of high grade copper
