Ivanhoe Mines Ltd. - Executive Co chair, Robert Friedland
Executive Co chair, Robert Friedland
Source: Invest Africa
  • Ivanhoe Mines Ltd. (IVN) announced that its Kamoa-Kakula mining complex in the Democratic Republic of Congo achieved a high copper production for 2022
  • The mine produced 333,497 tonnes of copper in concentrate which was in the upper end of the yearly production guidance range
  • The 2022 production amount represented a 215 per cent year-over-year increase
  • Its 2023 annual production guidance for Kamoa-Kakula will be between 390,000 to 430,000 tonnes of copper concentrate
  • Ivanhoe Mines Ltd. (IVN) is up 0.26 per cent trading at $11.48 per share as of 1:35 p.m. EST

Ivanhoe Mines Ltd. (IVN) announced that its Kamoa-Kakula mining complex in the Democratic Republic of Congo achieved a high copper production for 2022.

Specifically, the mine produced 333,497 tonnes of copper in concentrate, which was at the upper end of the yearly production guidance range of 290,000 to 340,000 tonnes. The 2022 production amount represented a 215 per cent year-over-year increase.

Robert Friedland, Executive Co-chair of Ivanhoe Mines, commented,

“Kamoa-Kakula has firmly established a track record of excellence during the development of phase one and phase two operations, which has led to an industry-leading growth profile in terms of copper production that will continue as we bring phase three online.”

The company stated its 2023 annual production guidance for Kamoa-Kakula will be between 390,000 to 430,000 tonnes of copper concentrate. This will begin after the completion of the de-bottlenecking program, which is 90 per cent complete.

“With the phase three expansion well on track, including the integration of Africa’s largest single-line blister-copper flash smelter, Kamoa-Kakula is poised to become one of the world’s leading producers of vital copper metal for global markets,” Friedland said.

The Kamoa-Kakula 2023 integrated development plan will be issued during the last week of January and will include cash cost and capital expenditure guidance.

Ivanhoe Mines Ltd. (IVN) is up 0.26 per cent trading at $11.48 per share as of 1:35 p.m. EST.


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