- Ivanhoe Mines in advanced talks to supply US with critical minerals from ultra-high-grade Kipushi mine in the Democratic Republic of Congo.
- US Project Vault initiative combines $1.67 billion in private capital with $10 billion Export-Import Bank loan to stockpile strategic minerals.
- Kamoa-Kakula Copper Complex receives first 50 megawatts of renewable hydropower from refurbished Inga II Turbine #5, with total supply projected to reach 150 megawatts by 2027.
Ivanhoe Mines Executive Co-Chairman Robert Friedland joined US President Donald J. Trump at the launch of Project Vault, a $12 billion initiative to build a domestic stockpile of strategic critical minerals. The event took place on February 2, 2026, at the White House Oval Office. Also present were General Motors CEO Mary Barra and senior US government officials, including the Secretaries of Commerce, Interior, and Treasury.
Project Vault aims to strengthen US supply chain security by combining $1.67 billion in private investment with a $10 billion loan from the Export-Import Bank of the United States. The programme will procure and store critical minerals for civilian and industrial applications across the United States. Ivanhoe Mines is in advanced discussions with DRC state-owned mining company Gécamines and commodities trader Mercuria to supply minerals from the Kipushi zinc-copper-lead-germanium-gallium mine.
In related developments, Ivanhoe Mines’ Kamoa-Kakula Copper Complex in the Central African Copperbelt continues to expand its clean energy supply. The recently refurbished 178-megawatt Turbine #5 at the Inga II hydropower station has begun delivering 50 megawatts of renewable electricity to the mine, with 100 megawatts expected in early 2026 and 150 megawatts projected by 2027. These upgrades are part of a decade-long partnership with the DRC’s state-owned electricity utility, Société Nationale d’Électricité, to restore 250 megawatts of hydropower capacity at Inga facilities.
The company reports that Turbine #5 reached full output in late 2025, feeding around 180 megawatts into the national grid. Further increases will depend on grid-strengthening projects at substations in Inga and Kolwezi, including new compensators and filter banks scheduled for completion through 2027. Once complete, Kamoa-Kakula will receive a total of 150 megawatts of domestically produced renewable power, contributing to the mine’s low-carbon energy profile.
Map of the Lobito Corridor. Image credit: OSM.org
On the logistics front, the Lobito Atlantic Railway in Angola has secured $753 million in financing to rehabilitate the 1,289-kilometre rail corridor linking the Port of Lobito to the DRC border. The Development Bank of Southern Africa confirmed a $200 million loan while the US International Development Finance Corporation provides $553 million in senior debt. The upgrades, led by a consortium including Trafigura, Mota Engil, and Vecturis, are expected to increase capacity tenfold to 4.6 million tonnes per year, reduce logistics costs by up to 30 percent, and facilitate exports of copper and cobalt from the DRC to global markets.
Author: Bryan Groenendaal
