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"Copper is the king of the 'green metals'"

Developer Ivanhoe Mines (TSX: IVN) has described copper as the king of the “green metals” in its second annual sustainability report, released yesterday.
"Copper is the king of the 'green metals'" "Copper is the king of the 'green metals'" "Copper is the king of the 'green metals'" "Copper is the king of the 'green metals'" "Copper is the king of the 'green metals'"

The Kakula copper development in the DRC

Staff reporter

"When it comes to solving the world's most pressing environmental problems, almost every single solution drives you to copper - solar power, wind power, hydro power, and pure electric and fuel-cell electric vehicles," founder and executive co-chairman Robert Friedland said in a joint statement with non-executive co-chairman Yufeng "Miles" Sun.

Ivanhoe expects its Kamoa-Kakula joint venture in the Democratic Republic of Congo, which is on track to start production in 2021, to become the world's second-largest copper mine.

It said its Kipushi restart project, also in the DRC, similarly had an increasingly important role to play thanks to its ultra-high copper and zinc grades.

In light of Vale's fatal tailings dam failure in Brazil earlier this year, Ivanhoe said it was conducting additional independent, engineering audits of its planned TSFs to further safeguard employees and neighbouring communities.

"We really are just getting started on our transformation from a mineral explorer to a leading producer, and we are excited about the significant, positive impact we will have on the areas that matter most to our stakeholders," Friedland said.

The company is also developing its majority-owned Platreef platinum, palladium, nickel, copper, gold and rhodium project in South Africa.

Its shares, which had hit a low of C$2 in August, gained 2.38% yesterday to $3.44 to capitalise it at $3.5 billion.