TSX-listed Ivanhoe Mines’ Chief Executive Officer, Marna Cloete, and Chief Financial Officer David van Heerden announced the company’s financial results for the third quarter of 2025, as well as an operations and project development update.
Highlights
- Stage Two dewatering of Kakula Mine advancing towards completion in early December; head grades to improve in Q4 2025 as higher-grade mining areas are reopened;
- Updated life-of-mine integrated development plan well underway for Q1 2026; targeting return of annualized copper production to over 550 000 tonnes;
- Africa’s largest and greenest copper smelter to start up in the coming weeks;
- Commissioning 178-megawatt Turbine #5 at Inga II complete; initial additional 50 megawatts of hydropower supplied to Kamoa-Kakula from November;
- First feed of platinum-palladium-nickel-rhodium-copper-gold ore into the Platreef Phase 1 concentrator recently took place; first concentrate expected in coming weeks;
- Engineering contractor appointed for Phase 2 expansion of the Platreef Mine; earthworks to commence in Q1 2026;
- Kipushi produced a record 57,200 tonnes of zinc in Q3 2026; reaching annualized production rates of up to 315,000 tonnes of zinc in concentrate;
- Ivanhoe Mines’ balance sheet strengthened by $500 million strategic private placement with Qatar Investment Authority.
Ivanhoe Mines is a leading Canadian mining company with three principal tier-one mining operations in Southern Africa. The company is primarily focused on operations at the Kamoa-Kakula Copper Complex in the Democratic Republic of the Congo (DRC); the ultra-high-grade Kipushi zinc-copper-lead-germanium mine in the DRC; and the ramping up of the Platreef platinum, palladium, rhodium, nickel, gold, and copper mine in South Africa.
In addition, Ivanhoe Mines is expanding the Makoko District copper discovery in the Western Forelands, as well as exploring for new sedimentary-hosted copper discoveries across its expansive and highly prospective exploration licence packages across the DRC, Angola, Zambia, and Kazakhstan. All figures are in U.S. dollars unless otherwise stated.
Founder and Co-Chairman Robert Friedland commented: “At Kamoa-Kakula, our teams continue to work around the clock to complete the Stage Two dewatering. As this critical work is completed, underground workings and infrastructure are systematically inspected and rehabilitated to prepare for the resumption of mining activities in higher-grade areas.
“Meanwhile the engineering team of Kamoa Copper, together with Ivanhoe and Zijin, is working alongside world leading geotechnical experts to determine a conservative and responsible plan to increase mining rates from underground to fill our concentrators. We expect production to continue to rise over coming months and quarters, ultimately targeting over 550,000 tonnes of copper per year, reaffirming Kamoa-Kakula’s position among the world’s most essential and lowest-carbon copper producers.
