Kamoa-Kakula is now world’s third-largest copper mining complex

Senior management addressing workers inside the Phase 3 concentrate storage and load-out facility, during the celebration of first concentrate on June 9, 2024. (Image: Ivanhoe Mines)Senior management addressing workers inside the Phase 3 concentrate storage and load-out facility, during the celebration of first concentrate on June 9, 2024. (Image: Ivanhoe Mines)

Ivanhoe Mines (TSX: IVN) has produced its first concentrate at the Kamoa-Kakula operation’s phase three concentrator, in the Democratic Republic of Congo (DRC).

The concentrator was completed almost two quarters ahead of schedule and is projected to boost Kamoa-Kakula’s output to over 600,000 tonnes of copper per year once fully ramped up.

With the addition of the third concentrator, Kamoa-Kakula has become the third-largest copper mining complex in the world, following Escondida in Chile and Grasberg in Indonesia. It is also the largest copper operation on the African continent.

The new concentrator has a design capacity of 5 million tonnes per year, 30% more than that of the previous two concentrators, which are located 10 km away.

The phase one and two concentrators produced 35,474 tonnes of copper in May, marking the best performance in the past 12 months.

Ivanhoe and China’s Zijin Mining each hold a 39.6% stake in the Kamoa-Kakula joint venture, with the DRC government holding 20% and Crystal River Global 0.8%.

Ivanhoe has a market capitalization of $23.3 billion.

Print

Be the first to comment on "Kamoa-Kakula is now world’s third-largest copper mining complex"

Leave a comment

Your email address will not be published.


*


By continuing to browse you agree to our use of cookies. To learn more, click more information

Dear user, please be aware that we use cookies to help users navigate our website content and to help us understand how we can improve the user experience. If you have ideas for how we can improve our services, we’d love to hear from you. Click here to email us. By continuing to browse you agree to our use of cookies. Please see our Privacy & Cookie Usage Policy to learn more.

Close