Ivanhoe Mines has announced that its Kamoa-Kakula Copper Complex in the Democratic Republic of the Congo (DRC) achieved a record production of 437,061 tonnes of copper in concentrate for the year 2024.
This represents a 12% increase compared to 2023, attributed to the successful ramp-up of the Phase 3 concentrator in the latter half of the year, according to the company’s Executive Co-Chair, Robert Friedland and President, Marna Cloete.
In the fourth quarter of 2024, the complex produced 133,819 tonnes of copper in concentrate, a 15% increase from the third quarter, setting a new quarterly record. December alone saw a production of 47,058 tonnes, marking the highest monthly output to date.
For 2025, Ivanhoe Mines has set an ambitious production guidance for Kamoa-Kakula, forecasting output between 520,000 and 580,000 tonnes of copper. The company attributes this confidence to continued improvements in processing capacity and operational performance.
Steady Progress at Kipushi Zinc Mine
In addition to the achievements at Kamoa-Kakula, Ivanhoe Mines reported significant progress at the Kipushi zinc mine, also located in the DRC. Total production for 2024 reached 50,307 tonnes of zinc in concentrate. December was a standout month, with a record 14,900 tonnes produced as the mine’s ramp-up approaches its nameplate capacity.
Looking ahead, Kipushi’s 2025 production guidance is set at an impressive 180,000 to 240,000 tonnes of zinc in concentrate. The company emphasized its commitment to optimizing the operation to achieve sustainable production levels.
Challenges and Resilience
While the year was marked by significant achievements, it was not without challenges. On January 2, 2025, a fire broke out in a generator bank at the Kamoa-Kakula site.
The incident, which occurred in the backup generator capacity area, was swiftly addressed by the site’s emergency response team. No injuries were reported, and the fire was contained without affecting other major infrastructure.
However, the incident may delay the commissioning of the Kamoa-Kakula smelter by up to three months. Ivanhoe Mines has already initiated expedited repairs and is working diligently to mitigate the impact on the project timeline.
The company remains optimistic about completing the smelter in the first half of 2025.
Financial Results and Investor Engagement
Ivanhoe Mines announced that it will release its full financial results for 2024 on February 19, 2025, after market close.
This will be followed by a conference call on February 20, providing investors and stakeholders an opportunity to gain deeper insights into the company’s performance and future plans.
The company’s leadership expressed pride in the accomplishments of 2024 while reaffirming their commitment to growth and innovation.
“The record-breaking results at Kamoa-Kakula and the steady ramp-up at Kipushi highlight the strength of our teams and the strategic vision guiding our operations,” stated in its report.
Continued Commitment to Excellence
Ivanhoe Mines has positioned itself as a leader in the global mining sector, leveraging state-of-the-art technology and sustainable practices.
The company’s 2025 guidance underscores its focus on scaling production while maintaining operational efficiency.
As Ivanhoe Mines looks to the future, stakeholders and industry observers will closely watch its progress, particularly the anticipated commissioning of the Kamoa-Kakula smelter and the continued ramp-up at Kipushi.
These milestones will play a critical role in shaping the company’s trajectory in the coming year.