Ivanplats Signs MOU to Secure Additional Power Supply for Kamoa

Ivanplats (TSX:IVP) announced that they have signed an MOU with DRC’s state-owned power company, La Société Nation, to secure an additional power supply for their Kamoa copper discovery in Katanga province.

As quoted in the press release:

Following the signing of the memorandum of understanding (MOU) this week, Ivanplats and La Société Nationale d’Electricité (SNEL) plan to conduct a Feasibility Study to assess the scope of work, and cost of restoring Nzilo 1 to its design capacity of 111 megawatts (MW).

Ivanplats’ Chairman, Robert Friedland, said:

As is the case with any major mine development project, a dependable supply of electricity is a key consideration in planning production rates at Kamoa.

To view the whole press release, click here.