Ivanhoe Mines announces that Kamoa-Kakula achieved a record 45,019 tonnes of copper in November
December 3, 2024
Ivanhoe Mines announces that Kamoa-Kakula achieved a record
45,019 tonnes of copper in November
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Recently ramped-up Phase 3 concentrator achieves record 90%
recovery rate over 24 hours
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Lobito Atlantic Railway receives first batch of new container
wagons
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Democratic Republic of the Congo is set to become World’s
second-largest copper producer
KOLWEZI, DEMOCRATIC REPUBLIC OF CONGO – Ivanhoe Mines (TSX: IVN; OTCQX:
IVPAF) Executive Co-Chairman Robert Friedland and President Marna Cloete
announced today that the Phase 1, 2, and 3 concentrators at the Kamoa-Kakula Copper
Complex in the Democratic Republic of the Congo (DRC) achieved a monthly combined
production record of 45,019 tonnes of copper in concentrate during the 30 days of
November. The concentrators milled 1.2 million tonnes of ore at an average feed grade
of 4.58% copper. Production for the year to November 30, 2024, from Kamoa-Kakula
now totals 390,061 tonnes of copper.
The recently ramped-up Phase 3 concentrator achieved an average recovery rate of
85.3% during November, rapidly approaching its design rate of 86%. In addition, on
November 26, the Phase 3 concentrator achieved a record 90% recovery rate over 24
hours.
Watch a timeline video of project developments at Kamoa-Kakula:
https://vimeo.com/1034923040/1abec638f9?share=copy
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Ivanhoe Founder and Executive Co-Chairman Robert Friedland commented:
"Kamoa-Kakula’s production continues its acceleration into year-end, following the
completion earlier this quarter of the ramp-up of the Phase 3 concentrator. November
was another remarkable milestone with the delivery of a further 10% month-on-month
increase in copper production, taking the annualized production rate to approximately
550,000 tonnes of copper… and November was a short month of 30 days. There is more
copper to come from this world-leading mining district as the growth story is only just
beginning as we grow into a production capacity of 600,000 tonnes per annum. We are
the unicorn of our industry… it was only three and a half years ago that we first
produced copper from this vast, multi-generational copper complex.”
Figure 1. Kamoa-Kakula 2024 monthly copper production year-to-date
President Biden visits Lobito Atlantic Railway port terminal as first batch of
new container wagons are delivered
On December 3, 2024, President Biden is set to visit the Angolan port of Lobito, where
copper from Kamoa-Kakula is loaded onto ships for export. The visit comes after an
announcement on October 24, 2024, by the US International Development Finance
Corporation, that approved a $553 million loan to the Trafigura-led consortium that is
operating the Lobito Atlantic Railway SA, for further upgrade work on the line.
In addition, as announced on November 14, 2024, by Trafigura of Geneva, Switzerland,
the first batch of 275 new container wagons purchased from Galison Manufacturing of
Welkom, South Africa has been delivered to Lobito, Angola.
The new container wagons, weighing 13.5 tonnes and with a load capacity of up to 60.5
tonnes, are designed to each carry one 40-foot container or two 20-foot containers. The
recently delivered batch of wagons is the first in a series of weekly deliveries expected
from now until 2026.
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A locomotive by Wabtec, an affiliate of General Electric of Boston,
Massachusetts, transporting a batch of the recently delivered container wagons,
loaded with containers, at the Atlantic port of Lobito, Angola. Source: Trafigura
DRC is set to become World’s second-largest producer of copper
According to an analysis by Benchmark Mineral Intelligence of London, England, total
copper production in Peru during the 9 months to September 30, 2024, was down year-
on-year by 0.6% at 1.99 million tonnes. In a publication made on November 25, 2024,
Benchmark stated that “the setback means that it will become more challenging for
Peru's copper miners to reach the government’s 2024 production target of 2.8 million
tonnes (already revised down in September from 3.0 million tonnes).”
Analysis by Benchmark estimated that in 2023, Peru produced 2.76 million tonnes of
copper, whereas the DRC produced 2.70 million tonnes. Benchmark stated, “Peru will
almost certainly be overtaken by the DRC to the number two spot in the global ranking
of top mined copper producers in 2024. We expect the DRC to produce 2.9 million
tonnes of mined copper this year.”
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The direct-to-blister copper smelter is on schedule for construction completion
by year-end.
The smelter (middle of picture) is located adjacent to the Phase 1 and 2
concentrators (top left of picture) and will be fed by a blend of concentrates from
existing Phase 1, 2, and 3 concentrators, as well as the future Phase 4
concentrator.
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Off-gases, which contain acid as well as waste heat, are captured from the
furnace building and recycled. Captured sulphuric acid will be sold to mining
operations on the DRC Copperbelt.
About Ivanhoe Mines
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 ramp-up of the ultra-high-grade Kipushi zinc-copper-germanium-silver mine,
also in the DRC; and, the phased development of the tier-one Platreef palladium-nickel-
platinum-rhodium-copper-gold project in South Africa.
Ivanhoe Mines also is exploring across its highly prospective, 60-100% owned
exploration licences in the Western Forelands, covering an area over 5 times larger than
the adjacent Kamoa-Kakula Copper Complex. Ivanhoe is exploring for new sedimentary
copper discoveries, as well as expanding and further defining its high-grade Makoko,
Kiala, and Kitoko copper discoveries as the company’s next major development
projects.
Information contact
Investors
Vancouver: Matthew Keevil +1.604.558.1034
London: Tommy Horton +44 7866 913 207
Media
Tanya Todd +1.604.331.9834