Ivanhoe Mines Executive Co-Chair Robert Friedland and President Marna Cloete announced today that the Kamoa-Kakula Copper Complex in the Democratic Republic of the Congo (DRC) produced 100,812 tonnes of copper in concentrate during the second quarter of 2024 and 186,925 tonnes of copper in the first half of 2024. Kamoa-Kakula’s Phase 3 concentrator is expected to ramp up to steady-state production in the third quarter, increasing annualized copper production capacity to over 600,000 tonnes. Ivanhoe Mines maintains its 2024 annual production guidance for Kamoa-Kakula at between 440,000 to 490,000 tonnes of copper in concentrate.

Kamoa-Kakula’s Phase 1 and 2 concentrators milled approximately 2.3 million tonnes of ore during the second quarter at an average feed grade of 5.3% copper. Copper production from the Phase 1 and 2 concentrators was 99,706 tonnes during the quarter, at an average flotation recovery rate of 87.0%, exceeding the Phase 1 and 2 concentrator design recovery rate of 86.0%.

Kamoa-Kakula’s Phase 3 concentrator, which was recently completed months ahead of schedule, produced its first concentrate on 10th June 2024, and is undergoing the completion of hot commissioning. Since 10th June, the Phase 3 concentrator has produced 1,100 tonnes of copper in concentrate.

As of 30th June 2024, a total of 4.82 million tonnes of ore at an average grade of 3.26% copper is stored in surface run-of-mine (ROM) stockpiles at Kamoa-Kakula. This includes 2.31 million tonnes of ore at an average grade of 3.72% at Kakula and 2.51 million tonnes of ore at an average grade of 2.85% at Kamoa and Kansoko. The stockpiled ore, from the Kamoa and Kansoko mines, contains over 70,000 tonnes of copper and is being used for the hot commissioning and ramp-up of the new Phase 3 concentrator.