- Ivanhoe Mines’ (TSX:IVN) Phase 3 concentrator at its Kamoa-Kakula Copper Complex has reached commercial production
- Located in the Democratic Republic of the Congo, Kamoa-Kakula’s Phase 1, 2 and 3 concentrators achieved a combined monthly production record of 35,941 tonnes of copper in July
- As 2024 continues, production guidance at Kamoa Kakula remains between 450,000 to more than 600,000 tons of copper in concentrate
- Ivanhoe Mines Ltd. opened trading at C$17.15 per share
Ivanhoe Mines’ (TSX:IVN) Phase 3 concentrator at its Kamoa-Kakula Copper Complex has reached commercial production.
Located in the Democratic Republic of the Congo, Kamoa-Kakula’s Phase 1, 2 and 3 concentrators achieved a combined monthly production record of 35,941 tonnes of copper in July.
“Kamoa-Kakula’s record-setting production in July marks the onset of rapid copper growth over the second half of 2024,” Robert Friedland, founder and executive co-chairman of Ivanhoe Mines, said in a statement. “We are also pursuing avenues to maximize copper production from Kamoa-Kakula’s current operating footprint, with recoveries anticipated to increase via our ‘Project 95’ program, and overall throughput to also increase through the near-term debottlenecking of the Phase 3 concentrator.”
The Phase 3 concentrator was completed ahead of schedule on May 28, 2024, with copper concentrate production commencing a few weeks later. Since first production, the Phase 3 concentrator has produced more than 11,000 tonnes of copper in concentrate.
As 2024 continues, production guidance at Kamoa Kakula remains between 450,000 to more than 600,000 tons of copper in concentrate. Moving forward, however, the company is exploring its options to increase copper production towards its next goal of 800,000 tons per year.
After the completion of Phase 3, the company’s engineering team will look to accelerate the project’s planned phase 4 expansion, which will be adjacent to the Phase 3 concentrator.
An updated life-of-mine integrated development plan for the Kamoa-Kakula Copper Complex including the Phase 3 expansion, smelter and Project 95 and the planned Phase 4 expansion are expected to be completed by the end of 2024.
The company’s engineering team intends to begin study work targeting an increase in the Phase 3 concentrator’s recovery rate to more than 90 per cent, as well as a further increase in processing capacity.
Ivanhoe Mines is a Canadian mining company focused on advancing its three principal projects in southern Africa; the expansion of the Kamoa-Kakula Copper Complex in the DRC, the construction of the tier-one Platreef palladium-nickel-platinum-rhodium-copper-gold project in South Africa.
Ivanhoe Mines Ltd. (TSX:IVN) stock opened trading at C$17.15 per share and has risen nearly 51 per cent since this time last year.
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(Top photo: Ivanhoe Mines Ltd.)