Kamoa-Kakula produces near-record 133,120 tonnes of copper
Improved operational performance at Kamoa-Kakula increased copper production to record levels since mid-March, 2025. Kamoa-Kakula produced near-record 133,120 tonnes of copper during first quarter, with accelerating quarterly production anticipated.
20 megawatts of additional imported hydroelectric power secured, further 30 megawatts expected imminently; up to 50 megawatts of Inga II Turbine #5 hydroelectric power expected from Q4 2025.
Given sufficient hydroelectric power, start-up of Kamoa-Kakula’s direct-to-blister smelter to commence next month, with 99.7% copper anode production from July 2025.
Founder and Co-Chairman Robert Friedland commented: “Despite recent volatility in global markets and with virtually all global equities knocked down by panic … and computerized trading algorithms … Ivanhoe Mines has a very strong balance sheet and generates powerful cash flows … In addition, we are in a privileged position with Kamoa-Kakula as one of the lowest-cost copper producers in our industry… and we expect our operating costs to decline even further as our state-of-the-art direct-to-blister smelter ramps up this year… The production of 99.7% pure copper anodes will significantly reduce our C1 cash costs due to a more than 50% reduction in transportation costs per unit of contained copper and the enjoyment of by-product sulphuric acid sales … a critical commodity in great demand in the Democratic Republic of the Congo’s copper industry.
“We are delighted that Kamoa-Kakula’s growing pains, which led to power challenges, are behind us following our successful efforts to secure additional imported hydroelectricity … with more imported hydroelectric power from the Southern Africa Power Pool on its way very soon. We now have in place a long-term energy security program that future-proofs our energy mix as we continue to grow into the very top ranks of the world’s largest copper production complexes.
“We are therefore sufficiently encouraged to inaugurate the startup of our state-of-the-art Kamoa-Kakula smelter… one of the largest and most technologically sophisticated smelters in the world. With the smelter coming online, we will no longer simply be exporting copper concentrate – we will export the world’s greenest copper anodes for the energy transition. As the world wakes up to a generational copper deficit, we have the assets, the people, and the infrastructure to deliver this responsibly sourced and most critical of all metals to world markets.”
