Ivanhoe Mines Updates Kamoa-Kakula Study, Targets 500k Tonnes Copper by 2028

Ivanhoe Mines has released an updated independent study for its Kamoa-Kakula Copper Complex, highlighting a massive mineral resource base of 1.3 billion tonnes containing approximately 34 million tonnes of copper. The updated mine plan supports a strategic production ramp-up aiming to exceed 500,000 tonnes of copper annually starting in 2028. However, the company has revised its near-term production guidance for copper anodes to between 290,000 and 330,000 tonnes for 2026. Guidance for 2027 is now set at 380,000 to 420,000 tonnes as the project prioritizes long-term infrastructure development for future high-productivity mining. Cash costs (C1) are projected to range between $2.60 and $3.00 per pound during this period. This update provides a multi-decade outlook for the mine's life while addressing necessary operational adjustments in the immediate term.