Ivanhoe Mines to boost copper production at Congolese mine

Photo: Ivanhoe Mines

Ivanhoe Mines has unveiled plans to raise copper production at its Kamoa-Kakula mine in the Democratic Re-public of the Congo (DRC) in the second quarter of 2022. The pro-ject’s phase 2 expansion is expected to double the mine’s annual production to about 400,000 tonnes, the company said in a state-ment.


“Production for the third quarter [of 2021] was 41,545 tonnes of cop-per in concentrate, with year-to-date production of more than 77,500 tonnes as of November 15, 2021,” according to the statement.


The Canadian miner said that its initial 2021 production guidance range for copper in concentrate of between 80,000 and 95,000 tonnes was increased to 92,500 to 100,000 tonnes, “reflecting the successful completion of ramp-up of the Kakula Phase 1 concentra-tor.”


“During its first quarter of commercial production, the Kamoa-Kakula joint venture sold 41,490 tonnes of payable copper and recognized revenue of $342.6 million, with an operating profit of $209.7 million and an EBITDA of $233.2 million,” Ivanhoe Mines said.