Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) has successfully transported its first shipment of copper concentrate from the Kamoa-Kakula copper complex in the Democratic Republic of Congo (DRC) to the port of Lobito, located in Angola, via a newly established railway.
This trial run marked the transportation of 10,000 tonnes of copper concentrate from the DRC through Angola, specifically along the Lobito corridor. The initial 1,100 tonnes of copper concentrate commenced its journey on December 23, 2023, and reached the port of Lobito on December 31, 2023. This development signifies the potential for Ivanhoe to significantly shorten its export route from Kamoa-Kakula, streamlining logistics and reducing associated costs.
Historically, Ivanhoe Mines transported copper concentrates from Kamoa-Kakula across sub-Saharan Africa to international ports in Durban (South Africa), Dar es Salaam (Tanzania), Beira (Mozambique), and Walvis Bay (Namibia). These journeys took an average of 40 to 50 days for a round trip.
The newly established railway connecting the DRC Copperbelt to the port of Lobito in Angola is known as the Lobito Atlantic Railway Corridor.
Ivanhoe Mines Founder and Co-Chairman, Robert Friedland, emphasized the significance of this achievement, stating, “Our first trial shipment is an important milestone on the path to creating a new supply chain linking the Central African Copperbelt to world markets.”
He further highlighted the broader positive impact of establishing a reliable and modern rail link to the port of Lobito in Angola, stating, “Establishing a reliable, modern rail link to the port of Lobito in Angola will have transformational benefits for the people of the Democratic Republic of the Congo, Angola, and Zambia.”
Beyond logistical and economic advantages, the Lobito Atlantic Railway Corridor is expected to contribute to the reduction of Scope 3 emissions, thus mitigating the carbon footprint associated with Kamoa-Kakula’s copper exports.
