Global Wrap: Ivanhoe, Rio and more

IN A big Global Wrap for this week: Ivanhoe’s Kamoa-Kakula surpasses Grasberg; Rio offloads assets; Vale full-year results; Barrick’s long-term outlook; Cobalt 27 raises; and Turquoise Hill lifts force majeure.

Global Wrap: Ivanhoe, Rio and more Global Wrap: Ivanhoe, Rio and more Global Wrap: Ivanhoe, Rio and more Global Wrap: Ivanhoe, Rio and more Global Wrap: Ivanhoe, Rio and more

Ivanhoe Mines has announced has announced a 50% increase in indicated resources at its “ultra high-grade” Kakula copper discovery in the Democratic Republic of Congo, a joint venture with Zijin Mining.

As a 3% cut-off, Kakula now has indicated resources of 174 million tonnes at 5.62% copper, as well as 9Mt at 3.66% copper in inferred.

Using a 1% cut-off boosts the indicated resource by 58% to 585Mt at 2.92% copper.

“Kakula is the most remarkable mineral discovery we have seen during our 35-plus years in the exploration industry,” Ivanhoe founder and chairman Robert Friedland said.

The combined Kamoa-Kakula indicated resource now stands at 1.03 billion tonnes...