Ivanhoe Mines Announces Kamoa-Kakula Copper Production Guidance for 2026 and 2027 as Recovery Plan Advances

Core Viewpoint - Ivanhoe Mines has announced copper production guidance for the Kamoa-Kakula project, projecting production ranges of 380,000 to 420,000 tonnes for 2026 and 500,000 to 540,000 tonnes for 2027, while maintaining a medium-term target of 550,000 tonnes annually [1][4][21]. Production Guidance - The 2026 copper production is expected to be between 380,000 and 420,000 tonnes, while for 2027, the range is set at 500,000 to 540,000 tonnes [1][32]. - Copper sales in 2026 are anticipated to exceed production due to the clearance of surplus concentrate inventory, with an estimated destocking of approximately 20,000 tonnes of copper [5][41]. Mining and Dewatering Progress - Dewatering at the Kakula Mine is progressing well, with over 60% completion on the eastern side and approximately 70% on the western side [2][3][22]. - The rehabilitation of underground workings has reached 13.4 kilometers, with 4.6 kilometers dewatered, allowing for the resumption of operations [3][4]. Mining Rates and Ore Processing - Mining rates on the western side of Kakula have increased to an average of 350,000 tonnes per month, with expectations to reach 450,000 tonnes per month by the end of Q1 2026 [8][10]. - Approximately 6 million tonnes of ore is expected to be mined at Kakula in 2026, increasing to between 7 and 8 million tonnes in 2027, with grades ranging from 3.5% to 4.5% [11][41]. Future Plans and Capacity - The combined annualized mining rate of the Kamoa mines is targeted to increase from approximately 6.5 million tonnes currently to over 10 million tonnes in 2027 [12][42]. - The total processing capacity of the Phase 1, 2, and 3 concentrators is expected to reach 17 million tonnes per annum from 2027 [15][17]. Recovery and Production Improvement - The recovery plan for the Kakula Mine is expected to lead to a gradual improvement in production rates, with annualized copper production anticipated to return to approximately 550,000 tonnes over the medium to long term [21][41]. - The updated life-of-mine plan for Kamoa-Kakula is on track for completion by late Q1 2026, which will include a full review of both Kakula and Kamoa operations [20][41].