Ivanhoe's copper production at its Congo mine increased significantly in Q2

On Tuesday, July 8, Ivanhoe Mines stated in a press release that copper production at its flagship Kamoa-Kakula mine in the Democratic Republic of Congo (DRC) surged by 11% YoY in Q2, reaching 112,009 mt.

Despite operational disruptions caused by an earthquake earlier this year, production still increased. The Canadian miner resumed operations in June and lowered its 2025 production guidance by nearly 30% to a range of 370,000 mt to 420,000 mt.

"Ivanhoe's rapid capacity expansion and robust outlook underscore Kamoa-Kakula's position as one of the world's lowest-cost and highest-margin copper producers," said Zack Hartwanger, Africa Commercial Director at commodity trader Open Mineral.

"The operational recovery plan at Kamoa-Kakula is fully underway," said Robert Friedland, Executive Co-Chairman of Ivanhoe.

Ivanhoe has commenced mining in the low-grade western zone of Kakula, currently producing ore with a copper content of 3%-4%, and implementing a two-phase dewatering plan to access the flooded eastern zone.

According to the statement, mining operations in the western zone resumed in early June and were scaled up to a capacity of 300,000 mt per month by mid-June. The company said it is investing $70 million in high-capacity dewatering infrastructure, with five submersible pumps scheduled to arrive next month.

Ivanhoe stated that mining in the high-grade western zone (with approximately 5% copper content) will resume before the end of the year.

This operational turnaround coincides with Kamoa-Kakula's preparations for a capacity expansion of its 500,000 mt per annum copper concentrates facility in September. The first production from this facility is expected in October. The company said the facility will transition operations from concentrate exports to the production of 99.7% purity copper anodes.

The Kamoa-Kakula mine is one of the world's largest copper mines and is crucial to global supply amid growing demand for energy transition metals worldwide.

Copper prices have risen by over 8% compared to the same period last year.