The Biden administration has commited $250 million to revitalize the century-old rail line linking key African mines to the Atlantic Ocean port of Lobito. It’s also funding a study to connect the railway into Zambia, as part of another project expected to cost $1.6 billion.
The agreement with Ivanhoe gives it the right to transport between 120,000 and 240,000 tonnes of blister-anode or concentrate per year from Kamoa-Kakula along the Lobito Corridor.
It outlines a minimum term for the agreement of five years starting in 2025, following a ramp-up year in 2024.
Ivanhoe sent in January a trial shipment of copper concentrate from its Kamoa-Kakula copper complex in the DRC to the port of Lobito using the new railway.
The deals inked today extend the initial trial shipments, announced in August…
