Ivanhoe Mines Updates Kamoa-Kakula Copper Production Guidance Amid Technical Optimisation

Kamoa-Kakula Copper Complex Revises 2026–2027 Output, Targets 500,000+ Tonnes from 2028

SX-listed Ivanhoe Mines has released an updated independent technical report for the Kamoa-Kakula Copper Complex in the Democratic Republic of Congo.

The report incorporates changes to the mine design and extraction sequence and applies conservative geotechnical parameters to ensure long-term safety and operational stability.

As a result, Ivanhoe has revised its production guidance for the complex to 290,000–330,000 tonnes of copper anodes in 2026 and 380,000–420,000 tonnes in 2027.

The company expects annualised production to exceed 500,000 tonnes from 2028 onwards. Previously, the guidance had projected 380,000–420,000 tonnes in 2026 and 500,000–540,000 tonnes in 2027.

Production in 2025 was disrupted by seismic events in May, which caused flooding on the eastern side of the Kakula mine. Dewatering efforts slowed output for much of the year, impacting overall production.

CEO Marna Cloete said the company focused on safeguarding the Kakula mine and strengthening its technical foundation.

She emphasized that the updated mine design is conservative, safe, productive, and sustainable.

She noted that while these conservative assumptions reduce production in 2026 and 2027, they set the stage for record output beyond 2028, with copper anode and blister production exceeding 500,000 tonnes per year over a multi-decade life.

Ivanhoe has also started an optimised feasibility study that will cover the first five years of operations in high definition.

The study will incorporate additional data, particularly after the dewatering of the Kakula mine is completed.

Despite the challenges of 2025, Cloete highlighted the operation’s achievements. Over the past six years, Kamoa-Kakula has produced more than 1.6 million tonnes of copper and generated over $7 billion in EBITDA.

These earnings funded the Phase 2 and Phase 3 expansions as well as Africa’s largest 500,000 t/y state-of-the-art copper smelter, which is ramping up ahead of schedule.

The smelter also generates additional revenue through by-product sulphuric acid sales and reduces the cost of shipping the 99.7%-pure copper to market.

Executive Co-Chair Robert Friedland stressed that Kamoa-Kakula is at the centre of the richest sedimentary copper district in the world.

He highlighted the mine’s extraordinary grade and long life, supported by hydroelectric and solar power.

Friedland said that in today’s environment of fragile global supply chains, Tier 1 operations like Kamoa-Kakula are critical to national and global security.

He added that the first 60 MW of on-site solar capacity will be commissioned in the second quarter of 2026, with another 60 MW planned for 2027.

To support the next phase of optimisation and long-term planning, Ivanhoe has appointed Simon Bottoms as Executive Vice President of Technical Services.

Cloete said Bottoms brings extensive experience in Africa and globally and will play a key role in delivering additional value to shareholders as the company continues to optimise Kamoa-Kakula operations.

Despite short-term production adjustments, Ivanhoe Mines is positioning Kamoa-Kakula for record-breaking copper output from 2028 onwards, supported by disciplined operational planning, sustainable energy integration, and a robust technical design.