Ivanhoe Mines Reportedly Exceeds 2021 Production Guidance At Kamoa-Kakula Copper Project

Ivanhoe Mines (TSX: IVN) has reportedly exceeded the upper end of its 2021 guidance at the firms Kamoa-Kakula operation in the DRC, with further time left to spare in the year. The company had originally guided to 80,000 to 95,000 tonnes of of copper production for the mine, before that figure was raised to an upper end of 100,000 tonnes late in the year.

The company has now reportedly exceeded the upper end limit of 100,000 tonnes of copper in concentrate that was guided to be produced this fiscal year, before refining losses or deductions related to smelter terms. The firm at this time is not revising guidance however, with little time remaining in the fiscal year.

A final update on production numbers is to be provided next month, along with project copper production for 2022, as well as cash costs and the start of Phase 2 operations at the project. That expansion is said to be significantly ahead of schedule, with annual copper production estimated to hit 400,000 tonnes by early in the second quarter of 2022.

Due to the significantly advanced schedule, Phase 3 expansions are now expected to begin production by 2024 as well.

Ivanhoe Mines last traded at $9.74 on the TSX.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Snowline Gold: The Multi Billion Dollar Valley PEA

Euro Sun: Rovina Copper-Gold Project Secures Some Major Funding

Arizona Metals: The Disappointing Kay Mine Resource Estimate

Recommended

Antimony Resources Drills 4.17% Antimony Over 7.4 Metres At Bald Hill

ESGold To Expand Mine Building At Montauban In Advance Of Gold & Silver Production

Related News

Ivanhoe Mines Hits Record Copper Production, $108 Million Profit in Q3 2024

Ivanhoe Mines Ltd. (TSX: IVN) has reported strong Q3 2024 financial results, fueled by increased...

Wednesday, October 30, 2024, 08:46:08 AM

Ivanhoe Mines Sees Record Production At Kamoa-Kakula In 2024

Ivanhoe Mines (TSX: IVN) has released its production results for 2024 across its assets in...

Wednesday, January 8, 2025, 09:57:38 AM

Ivanhoe To Explore Kazakhstan For Copper Under New Joint Venture

Ivanhoe Mines (TSX: IVN) is undertaking greenfield exploration in Kazakhstan under a new joint venture...

Wednesday, February 12, 2025, 08:24:13 AM

Ivanhoe Mines Sees Q4 2024 Earnings Miss Estimates, Bets Big On Portfolio In 2025

Ivanhoe Mines (TSX: IVN) released its Q4 and full-year 2024 results, posting a net profit...

Thursday, February 20, 2025, 10:07:13 AM

Ivanhoe Mines: BMO Raises Price Target To $10

This morning BMO Capital Markts raised their 12-month price target on Ivanhoe Mines (TSX: IVN)...

Friday, September 11, 2020, 05:57:52 PM