Canadian mining company Ivanhoe Mines has announced its 2025 production results and 2026 production guidance for key operations in southern Africa, reporting that its flagship Kamoa-Kakula Copper Complex and the ultra-high-grade Kipushi zinc mine in the Democratic Republic of the Congo (DRC) met or exceeded targeted outputs last year.
The Vancouver-based miner also confirmed guidance for copper and zinc outputs in 2026, alongside progress at its on-site smelter and other operational milestones.
According to the company’s Executive Co-Chair Robert Friedland and President and Chief Executive Officer Marna Cloete, Kamoa-Kakula produced 388,838 tonnes of copper in concentrate in 2025, within the previously set guidance range of 380,000 to 420,000 tonnes, driven in part by record throughput from the Phase 3 concentrator.
The company reaffirmed its 2026 copper production guidance for the Kamoa-Kakula complex and issued new guidance for Kipushi’s zinc output.
For the year, Ivanhoe highlighted that the Phase 3 concentrator at Kamoa-Kakula milled approximately 6.4 million tonnes of ore—about 30% above design capacity—and delivered its highest recovery rates and throughput levels. The combined output from all concentrators accounted for the bulk of the copper production achieved in 2025.
A major development in late 2025 was the ramp-up of the complex’s 600,000-tonne-per-annum on-site smelter. The facility began producing 99.7 % pure copper anodes, averaging about 500 tonnes per day—a significant step toward reducing logistics costs and capturing higher value from on-site processing.
The first truckloads of pure copper anodes have been loaded for export, with provisional revenues expected imminently.
Ivanhoe also highlighted by-product production from the smelter, including high-strength sulphuric acid, with output averaging 1,200 tonnes per day. The initial sales of sulphuric acid have already occurred, and further shipments to regional mining operations in the DRC Copperbelt are expected soon.
At the Kipushi zinc operation, the concentrator achieved a record annual output of 203,168 tonnes of zinc in concentrate in 2025, exceeding previous quarterly records and meeting guidance.
Monthly records, including more than 22,000 tonnes produced in December, underscored the mine’s strong performance. For 2026, Ivanhoe has set zinc production guidance of between 240,000 and 290,000 tonnes.
Looking ahead, Ivanhoe expects copper sales in 2026 to exceed production as on-site inventories of unsold copper concentrate are reduced during the smelter’s continued ramp-up, allowing the company to capitalize on near-record-high copper prices.
Management anticipates that logistics savings and increased by-product revenues will improve operating margins once the smelter achieves full steady-state operation.
Beyond production figures, the company is advancing other strategic projects, including ongoing ramp-up activities at the Platreef mine in South Africa, where the Phase 1 concentrator produced its first concentrate in late 2025 and is on track to reach higher capacity levels by mid-2026.
Ivanhoe plans to release its full 2025 financial results after market close on February 18, 2026, followed by an investor conference call on February 19 to discuss performance across its operations and outlook for the year ahead.
The company’s diversified portfolio and operational advancements aim to position Ivanhoe as a key supplier of critical metals—including copper, zinc and platinum group metals—needed to support global clean-energy transitions and electrification trends.
