Ivanhoe Mines recently has signed a memorandum of understanding (MOU) deal in a public-private partnership with the DRC's state-owned power company La Société Nationale d'Electricité (SNEL). The agreement focuses on upgrading a major turbine present at the Inga II hydropower facility on the Congo River. The primary aim of the deal is to produce a renewable source of electricity to support Kamoa-Kakula's expansion and provide reliable electricity to local communities.
The Democratic Republic of the Congo (DRC) has several hydroelectric potentials. The deal aims to provide renewable energy sources, which is undoubtedly the most suitable type of electricity to support long-term development priorities. This deal will allow both the firms to inject additional capacity into their electrical grid and improve the living conditions of Congolese citizens by increasing their access to electricity.
Besides, the inclusion of additional power capacity to the electrical grid and the generation of more electricity will allow Kamoa-Kakula to beneficiate its mining products in the DRC. This, in turn, will generate additional revenue for the country and increased the employment rate and opportunities for its people. The bilateral cooperation between Ivanhoe Mines Energy DRC and SNEL will be a win-win partnership.