Business
Ivanhoe Mines Issues 2026 First-Quarter Financial Results, Overview of Operations and Exploration Activities
Ivanhoe Mines' reports Q1 2026 loss of $2M and adjusted EBITDA of $191M, including $158M of attributable EBITDA from Kamoa-Kakula Updated Kamoa-Kakula
About this update from Ivanhoe Mines Ltd. Class A
[{"type":"text","content":" Ivanhoe Mines' reports Q1 2026 loss of $2M and adjusted EBITDA of $191M, including $158M of attributable EBITDA from Kamoa-Kakula Updated Kamoa-Kakula life-of-mine integrated development plan details launchpad for annualized copper production to return to over 500,000 tonnes per annum Kamoa-Kakula Q1 2026 cost of sales of $3.90/lb. and cash cost (C1) of $2.58/lb. of copper, below guidance range of $2.60/lb. to $3.00/lb. Kamoa-Kakula's operating margins boosted by the new on-site smelter; from sulphuric acid sales and significantly lower logistics costs High-strength sulphuric acid production averaging 1,350 tonnes per day; new contract prices up >50% year-to-date at $725 per tonne Construction of Platreef's Shaft #3 was completed on schedule, increasing hoisting capacity five-fold Earthworks underway on Platreef’s Phase 2 concentrator, targeting massive production increase from Q4 2027 Kipushi produced a record 65,044 tonnes of zinc in Q1 2026, at average cash cost (C1) of $0.86/lb. of zinc; cash costs tracking at low end of 2026 guidance range Ivanhoe's 2026 group exploration budget upsized to $127M; $86M allocated to Makoko District in Western Forelands Johannesburg, South Africa--(Newsfile Corp. - May 6, 2026) - Ivanhoe Mines' (TSX: IVN) (OTCQX: IVPAF) President and Chief Executive Officer, Marna Cloete, and Chief Financial Officer David van Heerden today announce the company's financial results for the first quarter of 2026, as well as an operations and project development update. Ivanhoe Mines is a leading Canadian mining company with three principal tier-one mining operations in Southern Africa: the Kamoa-Kakula Copper Complex in the Democratic Republic of the Congo (DRC); the ultra-high-grade Kipushi zinc-copper-lead-germanium mine, also in the DRC; and the Platreef platinum, palladium, nickel, rhodium, gold, and copper mine in South Africa. In addition, Ivanhoe Mines is expanding the Makoko District copper discovery in the Western Forelands, in the DRC, as well as exploring for new sedimentary-hosted copper discoveries across its vast and highly prospective exploration licence packages in the DRC, Angola, Zambia, and Kazakhstan. All figures are in U.S. dollars unless otherwise stated. Founder and Co-Chairman Robert Friedland commented: Ivanhoe has a portfolio of tier-one mines powered by hydroelectric and solar ...