Ivanhoe Mines (TSX: IVN) Reports Strong Copper & Zinc Production in 2025

Highlights:

• Kamoa-Kakula Copper Complex achieves near-record production in early 2025.​
• Kipushi Zinc Mine ramps up output, reaching nameplate capacity.
• Strategic initiatives underway to enhance production efficiency and capacity.​

Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF), a Canadian mining company with a strong focus on Southern Africa, has recently reported impressive production figures and strategic advancements across its key projects. The company's flagship operations, the Kamoa-Kakula Copper Complex and the Kipushi Zinc Mine, both located in the Democratic Republic of the Congo (DRC), have demonstrated significant progress, reinforcing Ivanhoe's position in the global mining sector.​

In January 2025, the Kamoa-Kakula Copper Complex delivered near-record copper production, churning out 45,477 tonnes. Despite February being a shorter month, the complex maintained robust output with 40,849 tonnes. These figures translate to daily production averages of 1,467 tonnes per day (tpd) in January and 1,459 tpd in February, closely approaching the record 1,518 tpd achieved in December 2024. Notably, during the last week of February, the complex produced 11,122 tonnes of copper, equating to an annualized rate exceeding 578,000 tonnes. This positions Kamoa-Kakula at the upper end of its 2025 annual production guidance of 520,000 to 580,000 tonnes.

Power availability, a critical factor for mining operations, has seen improvements as the Southern Africa wet season progresses. Kamoa-Kakula's Phase 1, 2, and 3 operations have been powered by approximately 100 megawatts (MW) of hydroelectric power, sourced both domestically and through imports. This accounts for about two-thirds of the operation's total requirement, with the remainder supplied by on-site diesel-generated backup power. Discussions are underway to increase imported hydroelectric power by an additional 20 MW by the end of the month. Rising water levels at hydroelectric dams in Mozambique and Zambia are expected to bolster power availability, supporting uninterrupted operations. ​

At the Kipushi Zinc Mine, the ramp-up of the concentrator has been noteworthy. January 2025 saw a record production of 16,063 tonnes of zinc, followed by 11,903 tonnes in February. These figures indicate that Kipushi's production rates are approaching its 2025 guidance range of 180,000 to 240,000 tonnes of zinc in concentrate. The concentrator achieved its nameplate milling rate of 2,000 tpd in late February, with further improvements in production rates and recoveries anticipated in the coming months. Looking ahead, Kipushi aims to surpass 250,000 tonnes of zinc in concentrate by 2026, following the completion of a debottlenecking program scheduled for late Q3 2025. ​

Ivanhoe Mines is also advancing its "Project 95" initiative at Kamoa-Kakula, targeting an increase in concentrator recoveries from approximately 87% to 95%. This project, with a capital expenditure of around $180 million, is expected to boost annualized copper production by up to 30,000 tonnes, reflecting an industry-leading capital intensity of $6,000 per tonne of copper. As of now, Project 95 is 20% complete and on track for completion in the first quarter of 2026. ​

Beyond its existing operations, Ivanhoe Mines is actively exploring its highly prospective, 60-100% owned exploration licences in the Western Forelands, adjacent to the Kamoa-Kakula Copper Complex. The company is on the lookout for new sedimentary copper discoveries and aims to expand and further define its high-grade Makoko, Kiala, and Kitoko copper discoveries, positioning them as the company's next major development projects. ​

As of March 4, 2025, Ivanhoe Mines' stock was trading at CA$12.84 on the Toronto Stock Exchange (TSX: IVN), reflecting a 1.26% increase. On the OTCQX market (OTCQX: IVPAF), the stock was priced at US$8.87, marking a 1.60% uptick. ​

Ivanhoe Mines continues to solidify its standing in the mining industry through strategic expansions and operational excellence. Investors and stakeholders alike are closely monitoring the company's progress as it advances its projects and explores new opportunities in the resource-rich regions of Southern Africa.