Ivanhoe Mines Ltd recently announced that its Phase 3 concentrator at the Kamoa-Kakula Copper Complex in the Democratic Republic of the Congo has successfully reached commercial production. In July, the Phase 1, 2, and 3 concentrators at Kamoa-Kakula achieved a combined monthly production record of 35,941 tonnes of copper. The company’s production guidance for 2024 at Kamoa-Kakula ranges between 450,000 to more than 600,000 tons of copper in concentrate.
The Phase 3 concentrator was completed ahead of schedule on May 28, 2024, and has since produced over 11,000 tonnes of copper in concentrate. Ivanhoe Mines is now exploring options to increase copper production towards its goal of 800,000 tons per year. The company’s engineering team is also planning to accelerate the project’s phase 4 expansion following the completion of Phase 3.
An updated development plan for the Kamoa-Kakula Copper Complex, including the Phase 3 expansion, smelter, Project 95, and the planned Phase 4 expansion, is expected to be finalized by the end of 2024. The engineering team is targeting an increase in the Phase 3 concentrator’s recovery rate to over 90% and a further boost in processing capacity.
Ivanhoe Mines is a Canadian mining company focused on advancing its key projects in southern Africa. The company’s stock opened trading at C$17.15 per share and has seen a 51% increase since the previous year. Investors can join the discussion about Ivanhoe Mines on the company’s investor discussion forum Bullboard. It is important to note that the information provided in this article is for informational purposes only and should not be interpreted as investment advice. For full disclaimer information, please refer to the provided link.
