
(3 Minutes Read)
Ivanhoe Mines has acquired a substantial set of new exploration licenses from the Zambian government, encompassing 7,757 square kilometers in the North-Western Province—an area thought to extend the Central African Copperbelt.
This initiative follows a memorandum of understanding (MOU) signed on September 10, 2024, between Ivanhoe Mines and Zambia’s Ministry of Mines and Minerals Development. The MOU facilitated the identification of promising licenses and provided geological survey data.
Strategically positioned between Ivanhoe’s Western Forelands Project in the DRC and its Angolan license package, the Zambian licenses are more than three times the size of the Western Forelands area. Ivanhoe intends to explore various mineralisation systems, such as Basement Domes, sediment-hosted copper, and iron-oxide-copper-gold (IOCG) deposits, bolstered by geological evidence indicating the continuation of copper-rich Nguba Group sediments into Zambia.
Simultaneously, Ivanhoe is advancing its USD 50 million exploration program in the Western Forelands. The 2025 campaign will include 102,000 meters of diamond drilling and 18,000 meters of RC drilling, with an updated Mineral Resource Estimate for Makoko, Kitoko, and Makoko West anticipated soon.
The Zambian license area, previously surveyed by BHP in the 2000s, has remained largely unexplored since 2015. An ongoing airborne geophysical survey by Zambia’s Ministry of Mines is expediting the data collection process for Ivanhoe. Exploration activities are slated to commence in Q2 2025, beginning with environmental baseline studies and community engagement, followed by detailed geophysical and geochemical surveys to map the expansive area and direct future diamond drilling.
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Friedland expressed enthusiasm for the proactive support and collaborative spirit shown by the Zambian government, highlighting the partnership’s role in enhancing regional hydroelectric power supply and distribution. Ivanhoe is optimistic that its Zambian and Angolan licenses exhibit significant geological similarities to its record-setting discoveries in the DRC, believing these efforts will reveal the next major copper deposits globally.