BASE METALS

Kamoa-Kakula phase two to start copper ore processing in April

Ivanhoe Mines is set to begin processing ore through its Kamoa-Kakula phase-two concentrator plant in April, with construction set to reach 93% completion by the end of January.

Petra Witowski
 Ivanhoe's Kamoa Kakula mine in the DRC

Ivanhoe's Kamoa Kakula mine in the DRC

Construction of the 3.8 million tonne per annum concentrator plant in the Democratic Republic of Congo would enable the company to increase throughout at Kamoa-Kalula to 9 million tonnes per annum and produce up to 450,000t/y of copper concentrate. Ivanhoe had previously announced its 2022 production guidance for the site was between 290,000-340,000t of copper concentrate.

The phase-two plant is identical to the phase-one concentrator plant, which has accelerated the timeline for construction and ramp-up. The phase-one plant reached design production capacity in its fourth month of operation and was producing more than 15% above design rates.

Ivanhoe Mines also announced the resignation of Mark Farren as Kamoa Copper's CEO. He was expected to leave after the commissioning of the phase-two expansion in April.

The company plans further expansion - the phase-three plant was scheduled for commissioning in the fourth quarter of 2024.

On January 24, Ivanhoe Mines traded on the Toronto Stock Exchange at C$11.28/share. It has climbed nearly $1/share since the beginning of the year.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.

editions

Mining Journal Intelligence World Risk Report 2023 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 121 jurisdictions globally, built on 11 ‘hard risk’ metrics and an industrywide survey.

editions

Mining Journal Intelligence Global Leadership Report 2023: Social licence

Gain insights into social licence trends and best practices from interviews with 20+ top mining company executives and an industrywide survey.