Ivanhoe boosts copper and zinc output in Congo as Platreef shaft lifts outlook

Ivanhoe Mines

13/04/2026 15:53

Ivanhoe reports record zinc output at Kipushi, improved copper production at Kamoa-Kakula

Platreef shaft completion in South Africa to enable higher-grade ore, commercial output by mid-2026

Executive co-chair Robert Friedland says shipping disruptions may boost margins for Kamoa-Kakula smelter

DAKAR, April 13 (Reuters) - Ivanhoe Mines IVN.TO said on Monday it delivered higher zinc and copper production in the first quarter, as a ramp-up at its flagship Kamoa-Kakula complex in Democratic Republic of Congo and a key infrastructure milestone at the Platreef project in South Africa strengthened growth outlook.

The first-quarter update comes weeks after Ivanhoe trimmed 2026 copper anode guidance to 290,000–330,000 metric tons and 2027 output to 380,000–420,000 tons, citing a more conservative mine plan.

Kamoa-Kakula remains a key growth asset in an otherwise supply-constrained copper market

The Canada-based miner said in a statement its Kipushi mine in Congo produced a record 65,044 tons of zinc concentrate in the first quarter, up 6% from the preceding quarter.

Improved plant recoveries, which averaged above 90% for the first time, helped offset persistent power instability at the operation, the company said.

Copper production at Kamoa‑Kakula reached 71,417 tons in blister and anode, supported by the continued ramp‑up of the on‑site direct‑to‑blister smelter to around 60% of its 500,000-ton-per-year capacity. The smelter is targeting annualised output of about 300,000 tons, with further increases constrained by concentrate feed, the company said.

Ivanhoe said it completed a new shaft at its Platreef mine in March, paving the way for higher-grade ore. The company expects commercial production from mid-2026, with early work under way on the Phase 2 expansion.

KAMOA‑KAKULA TO BENEFIT FROM SHIPPING DISRUPTIONS

The company said sales of sulphuric acid, a by-product of smelting at Kamoa-Kakula, are improving margins, with realised prices of around $500 per ton amid tightening global supply.

Executive co-chair Robert Friedland said the disruptions to global shipping routes could exacerbate shortages of sulphur and acid, threatening copper supply elsewhere, while positioning the smelter as a beneficiary rather than a consumer.

 (Reporting by Yassin Kombi; Writing by Maxwell Akalaare Adombila; Editing by Louise Heavens)

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