Ivanhoe Mines Eyes US Zinc Stockpile from Congo’s Kipushi Mine

Ivanhoe Mines in Talks to Supply US Zinc Stockpile

Ivanhoe Mines is negotiating with Gecamines and Mercuria to channel Kipushi zinc to the US.
The move aligns with Washington’s Project Vault, a $12 billion strategic metals stockpiling program.
Ivanhoe founder Robert Friedland attended the White House launch to support the initiative.

Project Vault aims to secure long-term critical metals, backed by $1.67 billion in private funding.
Additionally, the US Export-Import Bank provides a $10 billion loan facility to support the program.
As a result, the US strengthens supply chain security for metals like zinc, germanium, and gallium.

US-Congo Mineral Partnership and Kipushi Output

The proposed deal assigns Mercuria’s Kipushi offtake to Gecamines’ trading arm.
Gecamines could manage up to 50% of Kipushi’s output, including US-bound shipments.
Ivanhoe expects mine ramp-up later this year to increase volumes significantly.

Kipushi produces 240,000–290,000 tonnes of zinc concentrate annually, with byproducts like germanium and gallium.
These minerals are critical for semiconductors, defence, and clean-technology applications.
Meanwhile, the arrangement strengthens US-Congo ties and counters China’s dominance in African mineral markets.

Legislative Support and Market Momentum

US lawmakers plan to reauthorize Export-Import Bank funding to inject $70 billion over ten years.
The proposal would raise the bank’s lending cap from $135 billion to $205 billion.
This legislative support underscores bipartisan commitment to the US critical minerals agenda.

Western buyers, including Glencore and Orion Critical Mineral Consortium, pursue similar deals.
The moves reflect heightened competition for Africa’s strategic metals among global powers.
Consequently, Kipushi and other polymetallic mines gain strategic significance in global supply chains.

SuperMetalPrice Commentary:

Ivanhoe’s potential supply of Kipushi zinc to the US stockpile highlights growing geopolitical competition in critical minerals.
Investors should monitor Project Vault developments as US and African partnerships accelerate.
Strategic metals like zinc, germanium, and gallium will likely see heightened demand and premium pricing.