Ivanhoe hits record zinc output at Kipushi mine

Ivanhoe Mines (TSX: IVN) produced 71,226 tonnes of copper and a record 57,200 tonnes of zinc in the third quarter from its flagship Kamoa-Kakula and Kipushi mines in the Democratic Republic of Congo, the company said on Tuesday.Year to date, copper production totals 316,393 tonnes, with full-year guidance maintained at 370,000 to 420,000 tonnes of copper in concentrate. The company said mining is shifting to higher-grade zones in Kakula’s western section.Zinc production at Kipushi surged 37% quarter-on-quarter, driven by a program to remove processing bottlenecks and boost throughput. The improvement positions the mine among the world’s top zinc producers, Ivanhoe said.Production at Kakula came in slightly below Jefferies’ estimate of 73.7 kt, while Kipushi exceeded the firm’s 49.5 kt forecast, Jefferies analyst Fahad Tariq said in a note.“We see Ivanhoe Mines as a very high-quality asset portfolio with not only strong growth options but assets of global relevance,” Tariq said.“In particular, we view Kamoa-Kakula and the Western Forelands as the best new copper district in the world, with accretive growth likely to continue for the foreseeable future.”Shares of Ivanhoe fell 1.39% Tuesday morning in Toronto, giving the company a market capitalization of C$21.23 billion ($15.15 billion).Phase 1 operations at the Platreef Mine are expected to begin shortly, with the first feed of ore into the concentrator anticipated in the coming weeks.Ivanhoe faced production setbacks earlier this year due to seismic activity at the Kakula mine, which disrupted underground operations and lowered copper grades.The company has since ramped up efforts to address the challenges, including securing $500 million from Qatar’s sovereign wealth fund to expand operations and position Kamoa-Kakula as a top-tier global copper producer.In September, Reuters reported that Ivanhoe was in ongoing discussions with sovereign wealth funds for potential investments aimed at boosting production of copper and other critical minerals.Ivanhoe also confirmed the start-up of Africa’s largest copper smelter in early November, supported by a newly installed 60-megawatt uninterruptible power supply and 60 MW of diesel backup.The smelter will process all concentrate from Kamoa-Kakula’s three concentrators and produce up to 700,000 tonnes of sulphuric acid annually, a key reagent used across the Copperbelt.At Kipushi, Ivanhoe maintained its 2025 zinc production guidance of 180,000 to 240,000 tonnes.Weiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.com