Canada’s Ivanhoe Mines (TSX: IVN) expects to begin mining copper from its giant Kamoa project in the Democratic Republic of Congo in late 2018, as the company foresees a looming deficit in the market and rising global demand.
Congo gives up Plans to Change Mining Code
The Democratic Republic of Congo has decided not to change its mining code as the move could have driven away investors at a time of historically low commodity prices and energy shortages that are driving down output in the country.
Rising metal prices help DR Congo miners swing back to profits
The DR Congo miners, which are due to report results this month, said they expected a net profit of between $85 million and $130 million for the six months ended this financial year, compared with a net loss of $152 million in the same period last year.