Ivanhoe Mines, listed on the Toronto Stock Exchange (TSX), has set an ambitious production target for its flagship Kamoa-Kakula copper complex in the Democratic Republic of the Congo (DRC), aiming for between 520,000 and 580,000 tonnes of copper in concentrate in 2025. This target builds on the record-breaking success of 2024, where the complex produced 437,061 tonnes, marking a 12% year-on-year increase.
A Year of Record Performance
The fourth quarter of 2024 was particularly notable, delivering a record 133,819 tonnes, a 15% increase from the previous quarter. December alone saw an all-time monthly high of 47,058 tonnes. This achievement was largely attributed to the ramp-up of the Phase 3 concentrator, which reached and occasionally exceeded its design parameters. Phases 1 and 2 also performed strongly, contributing to record throughput with improved ore grade and recovery rates.
At the close of 2024, Kamoa-Kakula held high- and medium-grade ore stockpiles totaling 4.19 million tonnes, with an average copper grade of 3.18%. Contained copper in the stockpiles reached approximately 133,000 tonnes. However, inventory challenges remain, with about 30,000 tonnes of unsold copper in stock, a rise from 16,000 tonnes at the end of Q3. Much of this inventory is undergoing toll treatment at the Lualaba Copper Smelter and is expected to clear in the first quarter of 2025.
Operational Challenges and Smelter Commissioning Delays
Despite these successes, Ivanhoe Mines faced setbacks in late 2024 when a fire damaged a portion of Kamoa-Kakula’s on-site backup generator. This incident could delay the commissioning of its on-site smelter by up to three months, although expedited repairs are underway to mitigate the impact.
Kipushi Zinc Mine Ramps Up
In addition to its copper operations, Ivanhoe’s Kipushi zinc mine in the DRC achieved significant milestones in 2024. The mine produced 50,307 tonnes of zinc in concentrate, with December setting a monthly record of 14,900 tonnes. For 2025, Kipushi’s production guidance is set between 180,000 and 240,000 tonnes of zinc, supported by substantial ore stockpiles totaling 344,000 tonnes with an impressive average grade of 23%.
Hydropower Concerns and Future Plans
Hydropower availability has become a pressing concern for Ivanhoe Mines. Drought conditions in Zambia and Mozambique have reduced imported power to Kamoa-Kakula, with the rainy season now determining the recharge of vital reservoirs. The company has stated that it will review its 2025 production guidance in the second quarter after assessing hydropower availability. Additionally, Ivanhoe is exploring options for future hydropower imports from Angola to stabilize its energy supply.
Looking Ahead
With its sights set on increased production, Ivanhoe Mines is positioning itself as a major player in global copper and zinc markets. The company plans to release its 2024 financial results on February 19, shedding further light on its performance and future strategies. The 2025 targets, if achieved, would mark another significant milestone for Ivanhoe Mines and its operations in the DRC.
As the mining industry continues to face both opportunities and challenges, Ivanhoe’s proactive measures in infrastructure, energy sourcing, and operational efficiency underscore its commitment to long-term growth and sustainability.
2 thoughts on “Ivanhoe Mines Targets Record Copper Output in the DRC for 2025”
It’s impressive to see Ivanhoe Mines setting such ambitious targets for copper output in the DRC for 2025. This could be a significant boost for the region’s economy and a step forward in meeting the global demand for critical minerals. However, I hope the company also prioritizes sustainable practices and ensures that local communities benefit from the economic opportunities this expansion could bring. Transparency and environmental responsibility will be key to making this a success story for all stakeholders involved.
Exciting news! Ivanhoe Mines’ record copper goals could put the DRC on the map as a key global player. Let’s hope they balance growth with sustainability.