Ivanhoe Mines (TSX: IVN) this morning released guidance for the Kamoa-Kakula complex for the next two years. The release of guidance notably follows seismic events that occurred on site earlier this year, hampering production and forcing the company to suspend prior guidance.
While Ivanhoe was originally targeting 2026 production of up to 600,000 tonnes of copper at the complex, production is now expected to be in the range of just 380,000 to 420,000 tonnes. 2027 production meanwhile is forecast to be between 500,000 to 540,000 tonnes.
Mid-term production targets meanwhile are said to be maintained at 550,000 tonnes, with an updated life of mine plan expected to be complete late in the first quarter of 2026.
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Sales are also expected to exceed production in 2026, as the complex works to clear surplus concentrate inventory from the smelter, with first feed expected at the end of December.
Outside of guidance, Ivanhoe said this morning that dewatering of the Kakula mine is progressing, with dewatering 70% complete on the western portion of the mine, and 60% complete on the eastern portion. 13.4 kilometres of underground workings have been repaired, including 4.6 kilometres of which were dewatered.
Ivanhoe Mines last traded at $14.38 on the TSX.
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