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Ivanhoe Mines Issues Q2 Financial Results and Review of Operations, Mine Construction and Exploration Progress
Kamoa-Kakula Copper Mine achieved Phase 1 commercial production on July 1, 2021; first phase ...
About this update from Ivanhoe Mines Ltd. Class A
[{"type":"text","content":"Ivanhoe Mines Issues Q2 Financial Results and Review of Operations, Mine Construction and Exploration ProgressKamoa-Kakula Copper Mine achieved Phase 1 commercial production on July 1, 2021; first phase projected to produce approximately 200,000 tonnes of copper per yearKamoa-Kakula's Phase 2 expansion, scheduled for Q3 2022, will double annual copper output to approximately 400,000 tonnesIvanhoe Mines pledges net-zero greenhouse gas emissions at the Kamoa-Kakula Copper MineGood progress being made on Ivanhoe's Western Foreland exploration program, searching for DRC's next tier-one copper discoveryDevelopment of the world-scale Platreef palladium, rhodium, platinum, nickel, copper and gold project in South Africa making excellent progressToronto, Ontario--(Newsfile Corp. - August 11, 2021) - Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) today announced its financial results for the three and six months ended June 30, 2021. Ivanhoe Mines is a Canadian mining company advancing its three mining projects in Southern Africa: the Kamoa-Kakula copper mining complex in the Democratic Republic of Congo (DRC); the Platreef palladium-rhodium-platinum-nickel-copper-gold discovery in South Africa; and the extensive upgrading of the historic Kipushi zinc-copper-lead-germanium mine, also in the DRC. Ivanhoe also is exploring for new copper discoveries on its Western Foreland exploration licences in the DRC, near the Kamoa-Kakula Project. All figures are in U.S. dollars unless otherwise stated. HIGHLIGHTSKamoa-Kakula's Phase 1 concentrator plant achieved commercial production on July 1, 2021. Kamoa-Kakula's initial production guidance, on a 100%-project basis, is between 80,000 and 95,000 tonnes of copper in concentrate for 2021. Kamoa-Kakula's Phase 2 construction is progressing slightly ahead of plan and remains on track for start-up in Q3 2022, which will see a doubling of mill throughput to 7.6 million tonnes per annum (Mtpa). Phases 1 and 2 combined are forecast to produce approximately 400,000 tonnes of copper per year. Study work to accelerate Phase 3 mine and concentrator expansion to at least 11.4 Mtpa is ongoing. Based on independent benchmarking, the project's phased expansion scenario to 19 Mtpa would position Kamoa-Kakula as the world's second-largest copper mining complex, with peak annual copper production of more than 800,000 tonnes.A...