Ivanhoe Mines, a Canadian mining company focused on advancing its three principal projects in Southern Africa has published its eighth annual Sustainability Report, highlighting the company’s environmental, social, and governance (ESG) accomplishments throughout 2024.
The 2024 report reflects Ivanhoe’s unwavering commitment to responsible mining and sustainable development, driven by its core philosophy of “Mining with a greater purpose.”
It also underscores Ivanhoe’s alignment with the UN’s 2030 Sustainable Development Goals and its role in delivering critical metals essential to the global energy transition.
Throughout the year, the company made substantial progress across health and safety, community development, environmental stewardship, and workforce growth at its operations.
Safety and Operational Excellence
Ivanhoe achieved a company-wide reduction in Total Recordable Injury Frequency Rate (TRIFR) from 0.94 to 0.89 and maintained a group Lost-Time Injury Frequency Rate (LTIFR) of 0.33 per million man-hours worked.
Site-specific TRIFR rates remained well below the industry average of 2.59, with Kamoa-Kakula at 0.88, Platreef at 1.2, and Kipushi at 0.6. Notably, during the Phase 3 construction at Kamoa-Kakula, a TRIFR of just 0.20 was achieved across a workforce of 10,500 contractors.
Economic Contributions and Workforce Development
In collaboration with joint venture partners, Ivanhoe Mines created and distributed $5 billion in total value during 2024. This included $1 billion in government taxes and royalties and $194 million in wages and benefits.
The company also welcomed nearly 2,900 new employees, marking a 38% increase from 2023, and supported professional growth with 1,800 training sessions that led to 505 internal promotions.
Local Impact and Environmental Innovation
Demonstrating its commitment to local economies, Ivanhoe sourced approximately 75% of its procurement from local suppliers and contractors.
The company also reported complete Scope 3 greenhouse gas emissions for the first time and completed construction of Africa’s largest and most environmentally friendly copper smelter.
Additionally, a 5-MW solar power facility at Platreef was finalized in early 2025 to support operational energy needs.
Human Rights and Governance
Human rights due diligence assessments were conducted across all major operations, including Platreef, Kipushi, and an updated review at Kamoa-Kakula.
The Kamoa-Kakula assessment integrated the Voluntary Principles on Security and Human Rights (VPSHR), further strengthening Ivanhoe’s human rights framework.
CEO Statement
“Our 2024 Sustainability Report represents more than just a collection of achievements – it’s a testament to our vision of reimagining mining for the future and marks a pivotal moment in our evolution as we strengthen our position as a global leader in sustainable mining excellence,” said Marna Cloete, President and Chief Executive Officer.
“This year’s results prove that mining can align business excellence with purpose. We’ve shown that by responding to the evolving needs of our stakeholders and employees, while maintaining our commitment to sustainability, we can create meaningful impact for our communities while delivering value to our shareholders.”
The report follows international reporting standards, including the Global Reporting Initiative (GRI 14), World Economic Forum Stakeholder Capitalism Metrics (WEF SCM), the Local Procurement Reporting Mechanism (LPRM), the International Council on Mining and Metals’ 10 principles (ICMM), and the United Nations Global Compact (UNGC), ensuring transparency and accountability across Ivanhoe’s sustainability practices.