Ivanhoe Mines Ltd.’s
Kamoa-Kakula mine commenced phase 1 commercial copper concentrate production this month, 24 years after initial exploration on the property. While phase 1 is expected to produce approximately 200,000 tonnes of copper a year, once the full expansion is complete the mine is expected to reach peak production of 800,000 tonnes a year. Ivanhoe has a 39.6-per-cent stake in the project. As production became a reality, insiders were buying. Between May 19-21, two directors bought 32,500 shares at an average price of $8.61.