Business
Ivanhoe Mines Reports Significantly Increased Hydroelectric Power Availability for Kamoa-Kakula
Improved operational performance at Kamoa-Kakula increased copper production to record levels sin...
About this update from Ivanhoe Mines Ltd. Class A
[{"type":"text","content":"Ivanhoe Mines Reports Significantly Increased Hydroelectric Power Availability for Kamoa-KakulaImproved operational performance at Kamoa-Kakula increased copper production to record levels since mid-March, 2025Kamoa-Kakula produced near-record 133,120 tonnes of copper during first quarter, with accelerating quarterly production anticipated20 megawatts of additional imported hydroelectric power secured, further 30 megawatts expected imminently; up to 50 megawatts of Inga II Turbine #5 hydroelectric power expected from Q4 2025Given sufficient hydroelectric power, start-up of Kamoa-Kakula's direct-to-blister smelter to commence next month, with 99.7% copper anode production from July 2025Ivanhoe Mines to issue Q1 2025 financial results after market on April 30, host conference call for investors on May 1, 2025Johannesburg, South Africa--(Newsfile Corp. - April 7, 2025) - Ivanhoe Mines' (TSX: IVN) (OTCQX: IVPAF) Executive Co-Chair Robert Friedland and President & Chief Executive Officer Marna Cloete announced today, alongside the company's first-quarter production results, that Kamoa-Kakula has reached a major turning point following a significant increase in imported hydroelectric power in recent weeks enabling the start-up of the new on-site copper smelter. Imported hydroelectric power increased by 20 megawatts (MW) to 70 MW in mid-March. Imported hydropower is expected to increase further to 100 MW imminently, representing a 100% increase over recent weeks. Kamoa-Kakula delivered record production during the last two weeks of March at an annualized rate above its 2025 guidance. The outperformance was also underpinned by strong operating performance from the new Phase 3 concentrator, which delivered record throughput and copper production, exceeding its nameplate design capacity. Founder and Co-Chairman Robert Friedland commented: \"Despite recent volatility in global markets and with virtually all global equities knocked down by panic … and computerized trading algorithms … Ivanhoe Mines has a very strong balance sheet and generates powerful cash flows ... In addition, we are in a privileged position with Kamoa-Kakula as one of the lowest-cost copper producers in our industry… and we expect our operating costs to decline even further as our state-of-the-art direct-to-blister smelter ramps up this year...