Home Commodities Ivanhoe Mines Expects Rise in Kamoa-Kakula Copper Output This Year — Commodity...

Ivanhoe Mines Expects Rise in Kamoa-Kakula Copper Output This Year — Commodity Comment

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Published: Jan. 8, 2024 at 7:59 a.m. ET

By Robb M. Stewart

Ivanhoe Mines forecasts another year of production growth at its Kamoa-Kakula copper operation in Congo after lifting output 18% in 2023.

On guidance:

The…

By Robb M. Stewart

Ivanhoe Mines forecasts another year of production growth at its Kamoa-Kakula copper operation in Congo after lifting output 18% in 2023.

On guidance:

The Africa-focused Canadian mining company said Monday it expects Kamoa-Kakula to produce between 440,000 and 490,000 metric tons of copper in concentrate in 2024, based on assumptions that include the estimated timing for the completion and ramp-up of a new 5 million ton-a-year phase-three concentrator at the copper complex.

The company said the concentrator is ahead of schedule for completion in the third quarter of the year.

On production:

Ivanhoe said produced Kamoa-Kakula produced 393,551 tons of copper in 2023, up 18% on the year before and in line with guidance of 390,000 to 430,000 tons.

Over the year, Kamoa-Kakula’s phase one and two concentrators milled about 8.5 million tons of ore at an average feed grade of 5.2% copper, producing 824,382 dry tons of copper concentrate.

Write to Robb M. Stewart at robb.stewart@wsj.com

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