Ivanhoe Mines to Issue Kamoa-Kakula 2026 and 2027 Production Guidance Once Stage Two Dewatering Is Further Advanced

Core Viewpoint - Ivanhoe Mines has commenced Stage Two dewatering at the Kakula Mine, with a medium-term production target of over 550,000 tonnes of copper per annum, and will issue production guidance for 2026 and 2027 once dewatering activities are further advanced [1][5]. Group 1: Dewatering Progress - Stage Two dewatering began on schedule, with three out of four high-capacity submersible pumps installed and operational, achieving a combined pumping rate of approximately 2,600 litres per second [2][11]. - The underground water level in the Kakula Mine has decreased by 10 metres since the commissioning of the pumps, with a total target of reducing the water level by approximately 80 metres [2][3]. - Once all four pumps are operational, the total pumping rate is expected to increase to approximately 6,400 litres per second, or 550 megalitres per day, reducing the underground water level by about one metre per day [3][18]. Group 2: Rehabilitation and Mine Planning - As the water level declines, the underground mining team has started rehabilitating newly dewatered areas, focusing initially on areas needed for repositioning the Stage One pumping infrastructure [4][18]. - Mine planning and scheduling are well advanced to support the ramp-up of underground mining activities, with a target of restoring copper production to over 550,000 tonnes per annum [5][18]. - The majority of the Stage Two dewatering is expected to be completed by the end of November 2025, allowing for further physical inspection of the newly dewatered areas [3][9].