TSX-listed Ivanhoe Mines’ Co-Chairman Robert Friedland and Chief Executive Officer Marna Cloete have announced the results of an updated, independent technical report for the Kamoa-Kakula Copper Complex (Kamoa-Kakula 2025 Mineral Reserve and Mineral Resource Estimate or Kamoa-Kakula MRE). The Kamoa-Kakula Copper Complex is operated as the Kamoa Holding joint venture between Ivanhoe Mines and Zijin Mining. Kamoa Holding holds an 80% interest in the Kamoa-Kakula Copper Complex, with the DRC government holding the remaining 20% interest. Ivanhoe Mines and Zijin Mining, therefore, each hold an indirect 39.6% interest in Kamoa-Kakula, with Crystal River holding an indirect 0.8% interest.
The Kamoa-Kakula MRE underpins a mine plan for the Kamoa-Kakula Copper Complex to ramp up production to over 500 000 tonnes of copper per annum from 2028 onwards. This includes the Phase 1, 2 and 3 concentrator operations at a steady-state rate of 17 million tonnes per annum over approximately 25 years.
The updated Mineral Reserve estimate is 466 million tonnes of ore at a grade of 2.82% copper, containing 13.1 million tonnes of copper. This estimate incorporates changes to the mine design and extraction sequence, which takes into consideration cautious geotechnical parameters adopted based on analysis by world-leading experts.
Ivanhoe Mines’ Executive Co-Chairman, Robert Friedland commented: “Kamoa-Kakula is the epicentre of the richest sedimentary copper district on Earth. Our mine combines extraordinary grade over a very long life … and we are supported by hydroelectric and solar power. Building on this endowment, this technical report sets a base case from which we will build copper production up to a new high of over 500,000 tonnes per annum.
“The world is currently experiencing a crude wake-up call of just how fragile global supply chains are… and against this backdrop of global uncertainty, Tier-One mining operations like Kamoa-Kakula become even more critical to national security. Out of an abundance of caution, we have secured additional supplies of diesel. In addition, our first two modules totalling 60 MW of on-site solar, combined with battery storage to provide continuous power, will be commissioned this quarter … with a further 60 MW in the pipeline to come next year, enabling us to keep supplying the world economy with 99.7%-pure copper anodes … as well as ever more valuable sulphuric acid, which the Democratic Republic of the Congo, the world’s second largest copper producer, absolutely depends on for its oxide copper mines.”
“We are also looking forward to sharing positive developments from our Platreef Mine, the Western Forelands and Kipushi Mine soon...”
