Copper output at Ivanhoe's Congo mine jumps in second quarter

Ivanhoe Mines

08/07/2025 17:31

KINSHASA, July 8 (Reuters) - Ivanhoe Mines' IVN.TO production from its flagship Kamoa-Kakula mine in the Democratic Republic of Congo jumped 11% year-on-year to 112,009 metric tons of copper in the second quarter, the company said in a statement on Tuesday.

Output rose despite seismic challenges that disrupted operations earlier this year. The Canadian miner resumed operations in June and cut its 2025 production guidance by nearly 30% to between 370,000 tons and 420,000 tons.

"Ivanhoe's rapid ramp-up and steady outlook underscore Kamoa-Kakula's position as one of the lowest-cost, highest-margin copper producers globally," said Zack Hartwanger, Senior Africa Commercial Officer at commodity trader Open Mineral.

"Operational recovery plans are well underway at Kamoa-Kakula," said Ivanhoe Executive Co-Chairman Robert Friedland.

Ivanhoe has started mining lower-grade areas on the western side of Kakula and is currently producing ore containing 3-4% copper, while implementing a two-stage de-watering programme to access flooded eastern sections.

Mining operations on the western side restarted in early June, ramping up to 300,000 tons per month by mid-June, according to the statement.

The company said it was investing $70 million in high-capacity de-watering infrastructure, with five submersible pumps arriving from China next month.

Mining in higher-grade areas of approximately 5% copper on the western side will resume by year-end, Ivanhoe said.

The operational turnaround comes as Kamoa-Kakula prepares for the September ramp up of its 500,000-ton-per-annum copper concentrate facility.

First anode production from the facility is expected in October. The facility will transform the operation from a concentrate exporter to a producer of 99.7% pure copper anodes, the company said.

The Kamoa-Kakula complex is one of the world's largest copper mines, crucial for global supply amid rising demand for the energy transition metal.

Copper prices have risen more than 8% so far this year compared to the same period last year.

 (Reporting by Yassin Kombi. Additional reporting and writing by Maxwell Akalaare Adombila. Editing by Pratima Desai and Mark Potter)

 ((Maxwell.Adombila@thomsonreuters.com; +233205362647;))