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Ivanhoe Mines Announces Capital Expenditure Guidance to First Production for Kamoa-Kakula Phase 3, Platreef (Phase 1) and Kipushi
Kamoa-Kakula Phase 3 and future expansion capital costs expected to be funded by operating cash f...
About this update from Ivanhoe Mines Ltd. Class A
[{"type":"text","content":"Ivanhoe Mines Announces Capital Expenditure Guidance to First Production for Kamoa-Kakula Phase 3, Platreef (Phase 1) and KipushiKamoa-Kakula Phase 3 and future expansion capital costs expected to be funded by operating cash flow, at current copper pricesPlatreef Phase 1 initial capital currently funded with proceeds from stream facility; $150 million senior debt facility progressing wellKipushi construction activities underway, with pre-payment financing and offtake discussions nearing completionInvestor call today covering the Kamoa-Kakula 2023 Integrated Development Plan announced yesterdayJohannesburg, South Africa--(Newsfile Corp. - January 31, 2023) - Ivanhoe Mines' (TSX: IVN) (OTCQX: IVPAF) President Marna Cloete and Chief Financial Officer David van Heerden announced today capital expenditure (capex) guidance at Ivanhoe's three material properties for 2023 and 2024, as well as an update on financing activities. All capital expenditure figures are presented on a 100%-project basis.Capital Expenditure Guidance2023 & 2024(100% basis)($'million)Kamoa-KakulaPhase 3 expansion2,530Phase 2 and other expansion capital120Sustaining capital2602,910PlatreefPhase 1 initial capital390Phase 2 capital100490KipushiInitial capital380 All capital expenditure figures are presented on a 100%-project basis. The 2024 capital expenditure guidance for Platreef and Kipushi excludes sustaining capital required in 2024 post-initial production. Ivanhoe Mines' capex guidance is based on several assumptions and estimates as of January 31, 2023. These include the assumption that the Phase 3 expansion at Kamoa-Kakula, including the smelter and Inga II refurbishment are completed in Q4 2024, as well as the construction of Platreef's Phase 1 Mine is completed in Q3 2024, and that the construction of the Kipushi Mine is completed in Q3 2024. Guidance also involves estimates of known and unknown risks, uncertainties and other factors that may cause the actual results to differ materially. This includes assumptions regarding commissioning, price of key materials and equipment, as well as those risk factors and assumptions disclosed elsewhere in this press release. The full year 2022 capex for Phase 1 of the Platreef Project is expected to be approximately $100 million, and the full year 2022 capex for Platreef's Phase 2 is expected to be a...