Ivanhoe Mines Ltd. - Chairman, Robert Friedland
Chairman, Robert Friedland
Source: Forbes
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Ivanhoe Mines (TSX:IVN) has released its third annual sustainability report, outlining its positive environmental and societal impacts this year
  • The report highlights Ivanhoe’s desire to become the greenest copper producer in the world, through improvements in water security, education and training and mining practices 
  • Toward this end, Ivanhoe is working to redevelop a hydroelectric plant in the Congo, that powers two of its mines 
  • Copper mining has long had a bad environmental track record, due to the use of sulphuric acid needed in the leaching process 
  • Ivanhoe Mines (IVN) is up 0.28 per cent and is trading at C$3.62 per share 

Ivanhoe Mines (TSX:IVN) has released its third annual sustainability report, outlining its positive environmental and societal impacts this year.

The report highlights Ivanhoe’s desire to become the greenest copper producer in the world, through improvements in water security, education and training and mining practices.

Copper mining in particularly has a long history of being environmentally damaging, through the use of sulphuric acid to extract the copper on the leaching pad.

This, coupled with the large amounts of water used in the mining process, has given copper mining a particularly bad environmental image.

But the Executive Co-Chair of Ivanhoe Robert-Friedland said the company had moved past this, and is building modern, mechanised underground mines that supplied raw materials for the global clean energy technology movement.

“We are blessed with incredibly high-grade copper deposits in areas with an abundance of clean, sustainable hydro-power potential.

“In a world committed to electrification and green power, we will use far less water, and produce far less carbon dioxide, than any of the other Tier 1 mines on the plant,” he said.

Ivanhoe maintains it is a world leader in water security, low carbon emissions and tailings management. 

Ivanhoe has pointed to the Mwadingusha hydro-power dam in the DR Congo, which is being used to power its mines in that country.

Ivanhoe is helping to redevelop the dam, to increase power generation to both mines, as well as nearby communities.

New President and CFO of Ivanhoe, Marna Cloete echoed those sentiments, and emphasised Ivanhoe’s work with its communities to achieve its sustainability goals.

“We are proud of the growing diversity of our workforce, and strongly believe that diversity is the key to nurturing talent and driving innovation at our operations,” she said. 

Ivanhoe Mines (IVN) is up 0.28 per cent and is trading at C$3.62 per share. 

More From The Market Herald

Great Atlantic Resources completes 2023 program at South Quarry

Great Atlantic Resources has completed its 2023 exploration program at its 100-per-cent-owned South Quarry tungsten property in Newfoundland.

One of B.C.’s top gold assets just got better

Gold penny stock Ascot Resources (TSX:AOT) provides a construction update at its Premier gold project in British Columbia’s Golden Triangle.

Barrick options microcap gold stock’s secondary property in Peru

Xali Gold (TSXV:XGC) has optioned its prospective Tres Marias property in southern Peru to Barrick Gold (TSX:ABX).

Scratching the surface of an emerging gold belt in Canada

Westhaven Gold Corp. (TSXV:WHN) is a Canadian exploration company that has four gold projects along the Spences Bridge Gold Belt in B.C.