Ivanhoe Mines (TSX: IVN) has achieved commercial production at its phase three concentrator at the Kamoa-Kakula Copper Complex in the Democratic Republic of the Congo. The addition of the third phase concentrator is expected to increase annual copper production capacity to over 600,000 tonnes at the complex.
Production at the phase three concentrator began on June 10, following the phase being completed ahead of schedule in late May. The concentrator is said to now be operating at the nameplate processing capacity of 5 million tonnes of ore per annum, while also exceeding capacity by as much as 19% on multiple occasions within a 24 hour window.
With the concentrator now in commercial production, the Complex reportedly produced 35,941 tonnes of copper in July. Presently, Ivanhoe is focused on improving recovery rates, with fine-grinding mills currently being installed that will increase recovery at the third phase concentrator from 80% to nameplate capacity of 86%. Engineering meanwhile is expected to begin soon to find a means to increase recovery beyond 90%.
Sponsored · Cambria Gold Mines
The achievement however is overshadowed by a fatality that occurred on site last week, which was announced Friday evening. An employee operating an underground drill rig at the Kansoko mine was struck by a fall of ground, and later succumbed to their injuries at hospital. An investigation into the matter is said to be ongoing.
Ivanhoe Mines last traded at $17.26 on the TSX.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
