Kamoa-Kakula operations and expansion update to be released imminently
1
April 26, 2022
Kamoa-Kakula operations and expansion update
to be released imminently
TORONTO, CANADA – Ivanhoe Mines (TSX: IVN; OTCQX: IVPAF) stated today that the
company is unaware of any company-specific reason that might be contributing to the
recent decline in the company’s share price other than general market volatility.
Ivanhoe will imminently issue an update on the Kamoa-Kakula Mining Complex,
including further detail on the Phase 3 expansion plans. Engineering and early works
for the Phase 3 expansion are progressing quickly, with a third, significantly larger
concentrator expected to commissioned at Kamoa-Kakula in Q4 2024.
About Ivanhoe Mines
Ivanhoe Mines is a Canadian mining company focused on advancing its three principal
projects in Southern Africa: the development of major new, mechanized, underground
mines at the Kamoa-Kakula copper discoveries in the Democratic Republic of Congo
and at the Platreef palladium-rhodium-platinum-nickel-copper-gold discovery in South
Africa; and the extensive redevelopment and upgrading of the historic Kipushi zinc-
copper-germanium-silver mine, also in the Democratic Republic of Congo.
Kamoa-Kakula is the world’s fastest growing major copper mine. Kamoa-Kakula began
producing copper concentrates in May 2021 and, through phased expansions, is
positioned to become one of the world's largest copper producers. Kamoa-Kakula is
being powered by clean, renewable hydro-generated electricity and is projected to be
among the world’s lowest greenhouse gas emitters per unit of metal produced. Ivanhoe
Mines has pledged to achieve net-zero operational greenhouse gas emissions (Scope 1
and 2) at the Kamoa-Kakula Copper Mine. Ivanhoe also is exploring for new copper
discoveries on its Western Foreland exploration licences in the Democratic Republic of
Congo, near the Kamoa-Kakula Mining Complex.
Information contact
Matthew Keevil +1.604.558.1034
2
Forward-looking statements
Certain statements in this release constitute “forward-looking statements” or “forward-looking
information” within the meaning of applicable securities laws. Such statements and information involve
known and unknown risks, uncertainties and other factors that may cause the actual results,
performance or achievements of the company, its projects, or industry results, to be materially different
from any future results, performance or achievements expressed or implied by such forward-looking
statements or information. Such statements can be identified by the use of words such as “may”,
“would”, “could”, “will”, “intend”, “expect”, “believe”, “plan”, “anticipate”, “estimate”, “scheduled”,
“forecast”, “predict” and other similar terminology, or state that certain actions, events or results “may”,
“could”, “would”, “might” or “will” be taken, occur or be achieved. These statements reflect the
company’s current expectations regarding future events, performance and results and speak only as of
the date of this release.
Such statements include without limitation: (i) statements that engineering and early works for the
Phase 3 expansion are progressing quickly; (ii) the Phase 3 expansion and a third, significantly larger
concentrator expected to commissioned in Q4 2024; (iii) statements regarding first copper production
from Phase 3 expected in Q4 2024.
As well, all of the results of the Kakula definitive feasibility study, the Kakula-Kansoko pre-feasibility
study and the Kamoa-Kakula preliminary economic assessment, constitute forward-looking statements
or information, and include future estimates of internal rates of return, net present value, future
production, estimates of cash cost, proposed mining plans and methods, mine life estimates, cash flow
forecasts, metal recoveries, estimates of capital and operating costs and the size and timing of phased
development of the projects. Furthermore, with respect to this specific forward-looking information
concerning the development of the Kamoa-Kakula Project, the company has based its assumptions
and analysis on certain factors that are inherently uncertain. Uncertainties include: (i) the adequacy of
infrastructure; (ii) geological characteristics; (iii) metallurgical characteristics of the mineralization; (iv)
the ability to develop adequate processing capacity; (v) the price of copper; (vi) the availability of
equipment and facilities necessary to complete development; (vii) the cost of consumables and mining
and processing equipment; (viii) unforeseen technological and engineering problems; (ix) accidents or
acts of sabotage or terrorism; (x) currency fluctuations; (xi) changes in regulations; (xii) the compliance
by joint venture partners with terms of agreements; (xiii) the availability and productivity of skilled
labour; (xiv) the regulation of the mining industry by various governmental agencies; (xv) the ability to
raise sufficient capital to develop such projects; (xvi) changes in project scope or design; and (xvii)
political factors.
Forward-looking statements and information involve significant risks and uncertainties, should not be
read as guarantees of future performance or results and will not necessarily be accurate indicators of
whether or not such results will be achieved. A number of factors could cause actual results to differ
materially from the results discussed in the forward-looking statements or information, including, but not
limited to, the factors discussed below and under “Risk Factors”, and elsewhere in this release, as well
as unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the
failure of parties to contracts with the company to perform as agreed; social or labour unrest; changes
in commodity prices; and the failure of exploration programs or studies to deliver anticipated results or
results that would justify and support continued exploration, studies, development or operations.
Although the forward-looking statements contained in this release are based upon what management of
the company believes are reasonable assumptions, the company cannot assure investors that actual
3
results will be consistent with these forward-looking statements. These forward-looking statements are
made as of the date of this release and are expressly qualified in their entirety by this cautionary
statement. Subject to applicable securities laws, the company does not assume any obligation to
update or revise the forward-looking statements contained herein to reflect events or circumstances
occurring after the date of this release.
The company’s actual results could differ materially from those anticipated in these forward-looking
statements as a result of the factors set forth below in the “Risk Factors” section in the company’s 2021
Q4 and Year-End MD&A and its current annual information form.
114963668 v1