Kamoa-Kakula milled a record 3.3 million tonnes, producing a record 116,313 tonnes of copper in concentrate during Q3, with the Phase 3 concentrator in ramp-up

Phase 3 concentrator ramp-up approaching steady-state throughput and recovery as at quarter end

Kamoa-Kakula’s 2024 production guidance range adjusted to 425,000 – 450,000 tonnes of copper

Kipushi produced 17,817 tonnes of zinc in concentrate during ramp-up in Q3 2024

Kipushi’s 2024 production guidance range lowered to 50,000 – 70,000 tonnes of zinc

Kipushi concentrator now achieving recoveries in excess of 90%, as ramp-up continues to commercial production

Ivanhoe Mines to issue Q3 2024 financial results and host conference call for investors on October 30

Kolwezi, Democratic Republic of Congo–(Newsfile Corp. – October 7, 2024) – Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) Executive Co-Chair Robert Friedland and President Marna Cloete announced today that during the third quarter of 2024, the Kamoa-Kakula Copper Complex in the Democratic Republic of the Congo (DRC) produced a record 116,313 tonnes of copper in concentrate and the ultra-high-grade Kipushi zinc mine, also in the DRC, produced 17,817 tonnes of zinc in concentrate.

Year-to-date, Kamoa-Kakula has produced 303,328 tonnes of copper in concentrate. In addition, Kamoa-Kakula produced 40,025 tonnes of copper during September, achieving a record daily production rate of 1,334 tonnes of copper per day over the 30-day month. The average daily production rate increased further.during the final week of September to 1,460 tonnes of copper per day.

Kamoa-Kakula’s Phase 1 and 2 concentrators milled approximately 2.2 million tonnes of ore during the third quarter at an average feed grade of 4.9% copper. Quarterly copper production from the Phase 1 and 2 concentrators was 94,214 tonnes, at an average recovery rate of 86.6%.

Kamoa-Kakula’s Phase 3 concentrator, which produced first concentrate on June 10, 2024, milled approximately 1.1 million tonnes of ore during the third quarter at an average feed grade of 2.6% copper. The feed to the concentrator during the quarter was predominantly from historical surface stockpiles. The Phase 3 concentrator, which achieved commercial production during the quarter, produced 22,099 tonnes of copper in concentrate at a recovery rate of 79.9%, reflecting the ongoing ramp-up.

Following the commissioning of the Phase 3 concentrator’s fine-grinding mills in early September, sustained improvements in processing throughput and recovery rates were achieved. During the last week of September, the concentrator milled 117,484 tonnes, which is equivalent to an annualized processing rate of over 5.5 million tonnes per annum, after accounting for availability. In addition, over the same period, the copper recovery rate of the concentrator increased to an average of 84%. Kamoa’s operations team expects to reach the nameplate recovery rate of 86% during the fourth quarter, thereby achieving steady-state production. In addition, the team are also targeting to increase the feed grade to the Phase 3 concentrator up to approximately 3% by Q1 2025, while ore reserves continue to be developed towards the higher-grade zones in the Kamoa 1 and Kamoa 2 underground mines. see & read more on
https://www.ivanhoemines.com/news-stories/news-release/ivanhoe-mines-reports-q3-2024-production-results/