Ivanhoe Mines (IVN) announced the company has mined over 400,000 tonnes of ore Grading 5.36 per cent Copper.
Underground ore production at the Kamoa-Kakula Copper Project also included 100,000 tonnes grading 8.70 per cent Copper from the centre of the mine.
The Kamoa-Kakula Copper Project is located in the Democratic Republic of Congo.
Kamoa-Kakula also set a fresh monthly mine development record in March, with an advancement of more than 3,100 metres, bringing total underground development to approximately 38.6 kilometres - around 13.5 kilometres ahead of schedule
Pre-production ore stockpiles at the mine hold 2.56 million tonnes grading 4.60 per cent copper, containing more than 117,000 tonnes of copper.
Overall progress of Kamoa-Kakula's first phase mining and milling operation is 92 per cent complete with commissioning of the concentrator plant underway and first copper production on track for July 2021.
"The outstanding mining rate in March was driven by improved crew efficiencies and a higher percentage of ore coming from drift-and-fill stoping operations. We are comfortable with the mining performance as we move into final commissioning of the Phase 1, 3.8-Mtpa concentrator plant.
If we consistently mine at around 400,000 tonnes per month, we will continue to add to the surface stockpiles ahead of our Phase 2, 7.6 Mtpa concentrator plant commissioning, which is expected in Q3 2022.
We will continue to monitor the mining rate to ensure there is a balance between the number of new mining crews we add to our underground operations and the surface ore stockpiles ahead of Phase 2 commissioning. The large surface ore stockpiles will give us considerable flexibility during the ramp-up of Phase 2 production," said Kamoa Copper CEO.
Ivanhoe Mines is up 4.96 per cent on the day, with shares trading C$7.26 at 2:45 pm ET.