Ivanhoe Mines Boosts Western Forelands Copper Resource Estimates by 30%

Key Facts

1Indicated Mineral Resources at Western Forelands increased to 42 million tonnes at 2.66% copper.

2The company plans to commence a scoping study for the Makoko project in Q1 2027.

3The 2026 exploration drill program is the largest-ever at 94,500 metres.

Amid rising global demand for strategic metals essential for the energy transition, Ivanhoe Mines has announced a significant upgrade to its mineral resources. According to reports, Indicated Mineral Resources at the Western Forelands project increased to 42 million tonnes at a grade of 2.66% copper, confirming its status as a major high-grade deposit. The company plans to commence a scoping study for the Makoko project in Q1 2027, supported by its 2026 exploration drill program, which is the largest-ever at 94,500 metres.

This resource expansion reflects the success of ongoing exploration strategies in the DRC, where drilling results have expanded known mineralized zones, particularly in the Makoko District. Based on analyst data, copper prices on the London Metal Exchange (LME) have seen a substantial rise, reaching a high of $14,530 per tonne on September 7, 2026, compared to 2023 levels. This resource growth enhances the project's economic value within a favorable price environment for the red metal.

Operationally, investors are watching for results from the current drilling program to be included in further resource updates in 2027. As of September 8, 2026, specific closing prices for the instrument are unavailable in the current database, necessitating a focus on qualitative outlooks regarding liquidity and cash flow as the scoping study nears. The economic calendar also shows the recent release of the US ISM Manufacturing PMI, a key indicator for assessing global industrial demand for copper.