Loading ...Friedland confident Congo copper project will be bigger than Grasberg
Robert Friedland is mining’s most consummate promoter and the executive chairman of Ivanhoe Mines yesterday grabbed the opportunity to advertise his latest venture – the Kamoa-Kakula project in the Congo – with his usual gusto.
Friedland transformed what could have been a set of exciting drill results into 43 holes of “global significance in the copper world”.
Not that he doesn’t have a lot to work with.
Ivanhoe’s May update lifted Kamoa-Kakula’s resource base above a billion tonnes for the first time and thanks to grades that are a distant memory for Chile’s giants, the in-situ value is an eye-watering $193 a tonne at today’s prices.
Friedland said he’s looking forward to giving shareholders a “substantial” resource expansion in time for Christmas:
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