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陈景河董事长讲述卡库拉的故事——Chen Jinghe Tells the Story of Kamoa-Kakula
2021/05/27 45328


On May 26 Beijing time, in the Democratic Republic of Congo, Zijin Mining’s Kamoa-Kakula Copper Mine produced its first batch of copper concentrate. As the concentrate rolls out of the huge, fast-running ball mills, the project’s Phase I 3.8 million-tonne-per-annum processing plant has been commissioned. The world-class, super-large Kamoa-Kakula deposit has been “sleeping” for hundreds of millions of years. Now it wakes up, and many eyes are on it.

【同期声 紫金矿业董事长陈景河】:刚果(金)的卡库拉铜矿,一期工程在股东单位跟项目建设各方的努力下,已经正式投产。在全球的铜产业来说都是非常重要的一个事情,因为卡莫阿卡库拉铜矿的话是一个世界级、超大型矿床,而且是一个高品质的矿床。

[Chen Jinghe, Chairman of Zijin Mining]: Phase I of the Kamoa-Kakula Copper Mine in the DRC has been put into operation, thanks to the efforts of the shareholders and all parties involved in project construction. This is a significant event to the world’s copper industry, because Kamoa-Kakula is a world-class, super-large deposit, and a high-grade one.


From May 26, 2015 when Zijin signed the Share Acquisition Agreement on Kamoa to May 26, 2021, after precisely 6 years, the mine started production 2 months earlier than scheduled. It looks like a coincidence. In fact, it’s been a journey of surprises and tests, a journey that reflects the vision, efficiency, wisdom, and commitment of the decision-makers and those engaged in construction.


Six years ago.


Gold and base metal prices experienced a free fall, and much market volatility similar to that in the financial markets. The mining industry faced deteriorating situations. Against this backdrop, Zijin executed its strategies to find M&A opportunities.


The Kamoa-Kakula Copper Mine was one of the investment projects that Zijin had been paying close attention to.


In November 2014, Ivanhoe’s then CEO Robert Friedland discussed with Zijin’s then Vice Chairman Lan Fusheng in Shanghai about intentions for cooperation.


A month later, in December, Zijin’s Chairman Chen Jinghe led a delegation to the DRC for a field visit.


On May 26, 2015, in Xiamen, Zijin partnered with Ivanhoe, acquiring a 49.5% interest in Kamoa Holding, a company affiliated to Ivanhoe. The two began developing the world-class, super-large copper deposit at Kamoa.

【同期声 紫金矿业董事长陈景河】:紫金矿业是在2015年投资这个项目,包括对艾芬豪的投资整个加起来,我们现在已经成为卡库拉铜业公司权益最大的股东,在2015年的时候投资这个项目,某种意义上是高于市场价去收购的。

[Chen Jinghe, Chairman of Zijin Mining]: Zijin invested in the project in 2015. If you add our investment in Ivanhoe Mines, we ultimately hold the biggest equity interest in Kamoa Copper. When we invested in the project in 2015, to a certain extent, we paid higher-than-market prices.

【同期声 艾芬豪公司董事长罗伯特】:“此前曾有47家国际大型矿业公司对卡莫阿项目表示了浓厚的兴趣。非常荣幸也非常高兴能与紫金矿业建立长期的合作关系,我本人深信紫金矿业一定能成为中国最大的矿业公司。

[Robert Friedland, Executive Co-chairman of Ivanhoe Mines]: “When Ivanhoe and Morgan Stanley started talking about this project, 47 international mining companies approached us, to become our partner. I am extremely happy to be forming this long-term cooperation between Ivanhoe and Zijin. And I sincerely believe that Zijin will become the No.1 mining company of China, the national mining champion of China.


The partnership deal also became a landmark “going global” event for the Chinese mining industry or even Chinese businesses. But what really changed the future of Kamoa is the Kakula deposit to its south, an area once considered unpromising. 


During his visit to Kamoa prior to the deal, Chen Jinghe, a geologist by training, concluded that the southern section had good metallogenic conditions, and that it had the potential for the discovery of large orebodies. After becoming involved in the Kamoa project, Chen Jinghe strongly recommended looking for deposits in Kakula.

【同期声 紫金矿业董事长陈景河】紫金投资以后,我们迅速开展了南部的地质勘查,只用了不到两年的时间,就新发现了1800多万吨的铜,其中有700万吨的铜平均品位达到6%,是一个超高品位的一个大铜矿。

[Chen Jinghe, Chairman of Zijin Mining]: Soon after Zijin invested in the project, geological exploration in the southern section started. In less than two years, another 18 million tonnes of copper were discovered, of which, 7 million tonnes has an average grade of 6%. This is indeed an ultra-high-grade, large copper deposit.


Through continued exploration, the copper resources of Kamoa-Kakula almost doubled, from 24 million tonnes to 43.69 million tonnes.


The discovery of the Kakula deposit made the whole project a world-class one. Kamoa-Kakula became the world’s fourth-largest copper deposit, and the largest high-grade, undeveloped copper mine.


The discovery completely changed the project planning of Ivanhoe. Project construction then shifted to Kakula, which has the highest copper grades.


In November 2017, Phase I of the Kakula Copper Mine, which mostly uses Chinese technology, was kicked off. Some 7,000 professionals of various disciplines from over 10 countries were brought together for its construction, all working toward the goal of building a world-class mine.


Right at the crucial stages of Phase I construction, the COVID-19 outbreak hit the world. The mobilization of personnel and supplies was hindered, posing enormous challenges for the project.


Given the circumstances, Zijin made 2021 its “Year of Project Construction” and pulled Group-wide resources to support the construction of Kakula.


At that time, international flights were mostly suspended. Zijin sent core staff members and large quantities of supplies to the mine site through chartered flights. Thanks to close cooperation between the partners, the Kakula Copper Mine quickly adopted Chinese practices in pandemic containment, enabling mine development to move forward uninterrupted. Records for development were made multiple times.


In June 2020, even during the pandemic, Kakula Copper Mine set fresh monthly record for underground development for five consecutive months.


In September 2020, underground development at the mine advanced quickly, with over 2000 meters drilled, a new monthly record.


In November 2020, the northern and southern access tunnels of the Kakula Copper Mine were connected, and the center of the high-grade deposit was reached, allowing mining crews to extract ores simultaneously from both sides of the deposit...

为此,卡莫阿铜业CEO Mark Farren专门向中方建设团队致信,对紫金建设团队在面临新冠疫情、恶劣天气下的出色表现表示感谢。

Kamoa Copper Mine’s CEO Mark Farren wrote a letter to the Chinese construction team, KKCC, for the excellent job they have done, despite the challenges of COVID-19 and harsh weather conditions.

【同期声 紫金矿业董事长陈景河】:作为一期工程确实不容易,正好碰到了新冠疫情全球蔓延,我们项目技术团队克服了很多的困难,应该说提前完成了这项项目建设,目前正在推进二期工程,预计明年下半年将会投产。

[Chen Jinghe, Chairman of Zijin Mining]: Phase I construction was indeed a tough job, done amid the global spread of the coronavirus. Our technical teams overcame many difficulties and completed construction ahead of schedule. Now we are working on Phase II of the project, which is expected to start production in the second half of 2022.


Zijin Mining and Ivanhoe see Kakula as a highly profitable mine. They also want it to become the greenest mine in the world, and a beautiful, harmonious mine promising common prosperity.


The Kakula Mine will have one of the most favorable environmental footprints of any tier-one copper mine worldwide. It will be powered by clean, renewable hydroelectricity. An independent audit of Kamoa-Kakula performed by Hatch Ltd. of Canada confirmed that the project will be among the world’s lowest greenhouse gas emitters per unit of copper produced.

【同期声 紫金矿业董事长陈景河】:在海外投资运营项目一定要按照国际的规则、国际的标准来运营。所以公司现在全面加大了ESG的这个项目的提升,在环境方面,在安全方面,在社会方面,还有公司治理方面,全面按照国际标准来做。在各方面的共同努力下,成为一流的全球化的矿业公司是可以实现的。

[Chen Jinghe, Chairman of Zijin Mining]: When you operate projects overseas you must follow international standards and norms. So Zijin has stepped up efforts on ESG, adopting international standards on environmental, safety, social, and governance fronts. With the concerted efforts of all parties involved, I think Zijin will be able to become a leading global mining business.


In the meantime, the Kakula Copper Mine has also launched a sustainable livelihoods program, creating many job opportunities for the communities within the project’s footprint. It also helps communities develop textile production, crop cultivation, fish farming, and animal husbandry.

【同期声 紫金矿业董事长陈景河】:在多年的国际化过程当中的话,我们有一个很深刻的体会,共同发展的基本理念是我们公司的一个核心的价值观。首先我们在任何一个地方搞矿业开发,我们都要得到当地政府的支持,同时我们对员工尤其是当地的员工怎么对他们更加关爱,要帮助他们的成长也是作为我们的很重要的责任。同时的话,我们对项目的协作者,也当做自己人来看待,形成一种共同发展的理念。还有一个更重要的一点——社区。我们把带动当地社区的发展,当做我们自身的责任,所以我们就在心里面去通过矿业开发来带动他们的发展,这样子这种理念做下来以后,就得到了方方面面的支持,也为企业的新的发展创造很好的条件。

[Chen Jinghe, Chairman of Zijin Mining]: Over the years, as we do business across the world, we realized that we must commit ourselves to common development. This is our core value. First, wherever we develop a mine, we must win the support of the local government. We also need to take good care of our employees, especially local employees. We should make helping them grow our important responsibility. We should also treat our project contractors and partners like ourselves, and grow together with them. Communities are even more important. We take it our own responsibility to drive the development of local communities. From the bottom of our hearts, we want to help them develop through mining. By putting these concepts into practice, we have won the support of all stakeholders. It in turn creates great conditions for the further development of our company.


At present, Kakula has surface stockpiles of about 3 million tonnes of medium- to high-grade ore, with an average copper grade of 4.74%. The project will reach the capacity of 19 Mpta, which will make Kamoa-Kakula the world’s second-largest copper mine. At its peak, it will produce 800,000 tonnes of copper per year.

【同期声 紫金矿业董事长陈景河】:目前的铜的市场非常火爆,大家对未来铜的消费都非常看好。这个项目对公司未来5年规划和十年目标实现都有重大的影响。刚果(金)应该在铜、钴等矿产资源是非常丰富的一个国家,目前开发程度总体来说还是比较低,应该说还有很多的一些机会。我们最近正在跟刚果金政府在做一些沟通,争取进一步投资或者加大对刚果金的投资。紫金的国际化是我们的既定的战略,我们现在的金铜资源70%以上在海外,海外金的产量已经超过了国内,铜的产量的话,今年海外跟国内会基本上会持平,明年将会全面超越国内。

[Chen Jinghe, Chairman of Zijin Mining]: There is now a buoyant market for copper. People are very bullish about future copper consumption. Kamoa-Kakula plays a significant role in helping turn our five-year plan and our ten-year goals into reality. The DRC is home to rich copper, cobalt resources and other minerals. Much of these resources are yet to be tapped, meaning there are still plenty of opportunities. Recently, we are in discussions with the Congolese Government about further investments in the country. Zijin pursues the strategy of Going Global. Now more than 70% of our gold and copper resources are in our overseas projects. We already produce more gold abroad than from China. This year, our copper production in and outside of China will be about the same. But next year, we will produce much more copper overseas.


编辑:李凌生  审核:刘星  总编:汪洁