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Ivanhoe Mines Announces Phase 3 Concentrator at Kamoa-Kakula Copper Complex Has Achieved Commercial Production
Kamoa-Kakula reports a record 35,941 tonnes of copper produced in July Phase 3 increases annua...
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[{"type":"text","content":"Ivanhoe Mines Announces Phase 3 Concentrator at Kamoa-Kakula Copper Complex Has Achieved Commercial ProductionKamoa-Kakula reports a record 35,941 tonnes of copper produced in JulyPhase 3 increases annual copper production capacity to over 600,000 tonnes, making Kamoa-Kakula the third-largest copper mining complex globallyKolwezi, Democratic Republic of the Congo--(Newsfile Corp. - August 19, 2024) - Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) Executive Co-Chairman Robert Friedland and President Marna Cloete announced today that the Phase 3 concentrator at Kamoa-Kakula Copper Complex in the Democratic Republic of the Congo (DRC) has reached commercial production. In addition, Kamoa-Kakula's Phase 1, 2 and 3 concentrators achieved a combined monthly production record of 35,941 tonnes of copper in July. Mr. Friedland commented: \"Kamoa-Kakula's operations team continues to achieve a very rare feat in our industry... delivering world-scale copper development projects ahead of schedule, while also advancing smoothly through to commercial production at an impressive rate. Kamoa-Kakula's record-setting production in July marks the onset of rapid copper growth over the second half of 2024, with Phase 3 on track to increase annualized production capacity from approximately 450,000 tonnes to over 600,000 tonnes. \"We are also pursuing avenues to maximize copper production from Kamoa-Kakula's current operating footprint, with recoveries anticipated to increase via our 'Project 95' program, and overall throughput to also increase through the near-term debottlenecking of the Phase 3 concentrator. We expect Ivanhoe's aggressive copper growth story to continue as we advance planning on Kamoa-Kakula's Phase 4 expansion, while exploration continues to impress on our adjacent Western Foreland licenses.\"Kamoa-Kakula's Phase 3 concentrator was completed ahead of schedule on May 28, 2024, with copper concentrate production commencing on June 10, 2024. The Phase 3 concentrator subsequently achieved commercial production. This accelerated ramp-up schedule was primarily due to experience gained from the ramp-up of the Phase 1 and 2 concentrators that also achieved commercial production over a similar period of time. The Phase 3 concentrator is consistently milling at the nameplate processing rate of 5 million tonnes of ore per annum. Milling has also exc...