Monthly production record achieved over 30 days, Kamoa-Kakula hits an annualized copper production rate of approx. 625,000 tonnes at the end of April

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Phase 3 concentrator achieves record throughput rates at 20% above nameplate capacity during Q1, equivalent to an annualized milling rate of 6.1 million tonnes per annum

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Further improvements in Phase 3 copper grade, milling performance and improved power stability expected to drive additional production growth over the remainder of 2025

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Africa’s largest and greenest direct-to-blister copper smelter well on track to produce first anode in July, projected to improve operating margins

Kolwezi, Democratic Republic of Congo–(Newsfile Corp. – May 2, 2025) – Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) Executive Co-Chairman Robert Friedland and President and Chief Executive Officer Marna Cloete announced today that the Phase 1, 2, and 3 concentrators at the Kamoa-Kakula Copper Complex in the Democratic Republic of the Congo (DRC) achieved a monthly combined production record of 50,176 tonnes of copper in concentrate during the 30 days of April. The concentrators milled 1.35 million tonnes of ore at an average feed grade of 4.19% copper during the month.

The recently ramped-up Phase 3 concentrator achieved an average recovery rate of 87.4% during April, exceeding its design rate of 86%. Since mid-March, total copper production has notably risen to an average of approximately 12,000 tonnes per week, as shown in Figure 1. The outperformance is equivalent to an annualized production rate of approximately 625,000 tonnes per annum, approximately 12% higher than the midpoint of 2025 guidance.

The outperformance was underpinned by initiatives implemented earlier in the first quarter that enabled the Phase 3 concentrator to be consistently fed at higher rates than originally designed. Phase 3 milled a record 1.51 million tonnes of ore during the first quarter. The record is equivalent to an annualized milling rate of 6.1 million tonnes per annum, which is more than 20% higher than the Phase 3 concentrator’s design capacity of 5.0 million tonnes per annum.

Kamoa-Kakula reached a major turning point during the quarter, following a significant increase in imported hydroelectric power that provided Kamoa- see & read more on
https://www.ivanhoemines.com/news-stories/news-release/ivanhoe-mines-confirms-kamoa-kakula-achieved-a-record-50176-tonnes-of-copper-production-in-april/