- Ivanhoe’s (IVN) Kamoa-Kakula mine has begun exporting copper concentrate as production ramps up
- The product departed from the mine site on July 17th and will head to port in South Africa after clearing customs
- Shipments of Kamoa’s blister copper ingots will be exported from nearby Lualaba Copper Smelter later this week
- The mine is on track to produce between 80,000 and 95,000 tonnes of copper concentrate in 2021
- Ivanhoe Mines is a Canadian mining company focused on three projects in Southern Africa: Kamoa-Kakula, Platreef and Kipushi
- Ivanhoe (IVN) is down by 2.48 per cent and is trading at $8.27 per share
Ivanhoe’s (IVN) Kamoa-Kakula mine has begun exporting copper concentrate as production ramps up.
The product departed from Kamoa Copper SA – the operating company of the joint venture between Ivanhoe Mines, Zijin Mining Group, Crystal River and the Democratic Republic of Congo – on July 17th.
After five days of customs approvals, the copper concentrate will exit the DRC and proceed to the port of Durban, South Africa.
This milestone is part of the ongoing ramp-up of Kamoa-Kakula’s phase 1, 3.8 million tonnes-per-annum (Mtpa) concentrator plant.
The first truckloads of Kamoa’s blister copper ingots will be exported from nearby Lualaba Copper Smelter later this week.
Going forward, all of Kamoa’s phase 1 operating costs and the majority of phase 2 capital expenditures are expected to be funded from copper sales and facilities in place.
The mine is on track to produce between 80,000 and 95,000 tonnes of copper concentrate in 2021.
Marna Cloete, Ivanhoe’s President and CFO, commented,
“As Kamoa-Kakula’s phase 1 concentrator plant ramps up toward steady-state production, the mine now is producing more concentrate than the nearby Lualaba Copper Smelter can process. As such, Kamoa-Kakula has begun exporting its ultra-high-grade copper concentrates to international smelters, converting the rich copper resources hidden beneath the Kalahari sands into long-lasting and meaningful benefits for all Congolese people.”
Ivanhoe Mines is a Canadian mining company focused on three projects in Southern Africa: Kamoa-Kakula, Platreef and Kipushi.
Ivanhoe (IVN) is down by 2.48 per cent and is trading at $8.27 per share as of 9:34 am ET.
