Strong start to 2025 for copper mining industry...
Excerpt from G & M article...
Just over two weeks into 2025, it’s already shaping up to be a big year for copper, as expert researchers are predicting another run of fresh records extending into 2025. With the US presidential inauguration less than a week away, and threats of international tariffs on the horizon, traders are ramping up bets on copper futures as part of a broader escalation of the ongoing global trade war.
Meanwhile the International Monetary Fund (IMF) forecasts that copper demand will rise over 66% between 2020 through 2040. Already this bodes well for the copper mining industry, as players of all sizes are announcing big progress on their projects, including recent developments from Yukon Metals Corp. (CSE: YMC) (OTCQB: YMMCF), New Gold Inc. (NYSE-American: NGD) (TSX: NGD), Taseko Mines Limited (NYSE-American: TGB) (TSX: TKO), Ivanhoe Mines Ltd. (TSX: IVN) (OTCQX: IVPAF), and Hudbay Minerals Inc. (NYSE: HBM) (TSX: HBM).
Ivanhoe Mines Ltd. recently provided its 2024 production results, highlighting a record-breaking year for the Kamoa-Kakula Copper Complex in the Democratic Republic of Congo. Kamoa-Kakula produced 437,061 tonnes of copper in concentrate, a 12% increase over 2023, driven by the ramp-up of the Phase 3 concentrator. Fourth-quarter copper production reached 133,819 tonnes, marking a 15% increase from the prior quarter. Monthly production also set a new high in December, with 47,058 tonnes produced.
For 2025, the company has issued guidance of 520,000 to 580,000 tonnes of copper, reflecting the continued growth potential of Kamoa-Kakula, despite minor delays to smelter commissioning caused by fire damage to backup generation equipment.
Ivanhoe Mines is also advancing efforts to optimize and expand its operations. The company is targeting copper production of approximately 600,000 tonnes annually by 2026 through increased processing capacity, improved recovery rates, and the development of new mining areas.
Additionally, off-take agreements with CITIC Metal and Gold Mountains for 80% of smelter production have secured steady demand for Kamoa-Kakula’s high-grade copper.
With strong operational performance and strategic initiatives underway, Ivanhoe Mines is well-positioned to capitalize on the rising demand for copper in global markets.