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Ivanhoe says Kamoa-Kakula set new quarterly copper production record of 87,314 tonnes in Q2 2022

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Ivanhoe says Kamoa-Kakula set new quarterly copper production record of 87,314 tonnes in Q2 2022

The Kamoa-Kakula Mining Complex in the Democratic Republic of the Congo reached a new quarterly production record in Q2 2022 with 87,314 tonnes of copper in concentrate produced, according to Ivanhoe Mines (TSX: IVN), which made the announcement on Tuesday.

In June 2022, 30,379 tonnes of copper in concentrate were produced at Kamoa-Phase Kakula’s 1 and Phase 2 concentrator units, which have a combined capacity of 3.8 million tonnes per year.

Following the inauguration of Phase 2, Ivanhoe stated that this performance marks the third straight month that Kamoa-Kakula has exceeded its throughput design capacity of 7.6 million tonnes annually.

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The business also noted that the total annualised production rate of the Phase 1 and Phase 2 concentrator units is getting close to 400,000 tonnes of copper in concentrate.

The de-bottlenecking work, according to Ivanhoe, is on target to increase Kamoa Copper’s annual production to over 450,000 tonnes of copper in concentrate by the second quarter of 2023.

The management of the firm believes that the early completion of the Phase 2 concentrator plant in March 2022, or about four months ahead of schedule, will allow Kamoa Copper to meet the higher end of its production forecast for 2022, which is 290,000 to 340,000 tonnes of copper in concentrate.

The largest and fastest-growing copper mining complex in the world is Kamoa-Kakula. Based on independent benchmarking, Kamoa-Kakula would become the second-largest copper mining complex in the world with a peak annual copper production of more than 800,000 tonnes under the project’s progressive growth scenario to 19 million tonnes per year.

Ivanhoe Mines (39.6%), Zijin Mining Group (39.6%), Crystal River Global Limited (0.8%), and the Government of the Democratic Republic of Congo are partners in the Kamoa-Kakula Mining Complex (20 percent ).

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