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

Ivanhoe's Kamoa Kakula mine in the DRC

Petra Witowski

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.