A preliminary economic assessment released Monday by Friedland says a two-phase mine at the site could be worth US$4.3 billion in today's dollars before taxes and US$2.5 billion after taxes.
The study estimates cash costs of producing copper at the mine at US$1.18 per pound.
The Kamoa project in Democratic Republic of Congo is being developed under Ivanhoe Mines Inc. (TSX:IVN), a Toronto-listed company that Friedland founded and leads.
Friedland has a long history of developing major mining projects, including the Voissey's Bay nickel deposit in Labrador and the Oyu Tolgoi copper mining complex in Mongolia.
He says the Kamoa copper discovery in the DRC's Katanga province has a rare combination of high grade copper and large volumes that would made it a lowest-cost, major producer.Suggest a correction