DRC: Ivanhoe Mines raises its copper investment to USD 86 million
An investment revised upward
In a global context marked by the risk of copper shortages linked to the energy transition, Ivanhoe Mines is accelerating its ambitions in the Democratic Republic of Congo through its Western Forelands exploration project.
The Canadian company now plans to invest USD 86 million in 2026 in this project located in the DRC. This budget, disclosed in its quarterly report published on May 6, represents a significant increase compared with the USD 50 million announced last February.
A strengthened exploration campaign
Ivanhoe Mines says this year’s exploration program will be the largest ever carried out on the project. It includes more than 80,000 meters of diamond core drilling as well as 16,000 meters of reverse circulation drilling.
The objective is to test new geological targets and increase confidence in the potential of the Makoko district, considered one of the most promising areas of Western Forelands. A resource update is expected in the third quarter.
Makoko among the major copper deposits
The Makoko district currently contains approximately 773,000 tonnes of copper in indicated resources and more than 8.38 million tonnes in inferred resources.
For Ivanhoe Mines, this resource base already allows Makoko to be ranked among the world’s most significant copper discoveries. The group therefore wants to accelerate planning for a future mine on the site.
A pre-feasibility study is underway and is expected to be completed by the second quarter of 2027.
Ivanhoe strengthens its presence in the DRC
“We are making great strides in the process of discovering major deposits,” said Robert Friedland, referring to a deposit whose significance continues to grow.
The development of a mine at Western Forelands would enable the group to further consolidate its presence in the DRC, where it already operates Kamoa-Kakula, the country’s largest copper mine.
Copper becomes strategic
Ivanhoe’s ambitions come in a context of strong global demand for copper, driven in particular by electric vehicles and energy infrastructure.
The United Nations Conference on Trade and Development estimates that around 80 new copper mines will need to be developed worldwide by 2030 to meet global needs.
Despite these prospects, several more years will still be needed before the economic viability of a future mine at Western Forelands can be fully confirmed.
Héritier Maila / Agence ECOFIN
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