Ivanhoe Mines of Canada is considering a cheaper way to ship the copper it mines in southern Congo-Kinshasa for export to China, Reuters says.
The company is thinking about transporting copper from its Kamoa-Kakula mine to a port in Angola for onward shipment to China, instead of trucking it to the South African port of Durban, the news agency reported on Wednesday, quoting Ivanhoe Mines Co-chairman Robert Friedland.
Mr Friedland said the Angolan route was one-third of the length of the South African route, and added: “A new Angolan railroad is going to move us much closer to the ocean.”
He said 29 per cent the costs incurred by his company in the fourth quarter of last year were incurred in transporting copper to China.
Ivanhoe Mines and its Chinese partner, Zijin Mining Group Co. Ltd, are working together to cut costs, Reuters quotes Mr Friedland as saying.