Ivanhoe Mines Secures Increased Hydropower, Boosts Kamoa-Kakula Production

Ivanhoe Mines announced a significant increase in imported hydroelectric power to its Kamoa-Kakula copper complex in the Democratic Republic of the Congo, which has enabled the start-up of a new on-site copper smelter and led to record copper production. The power supply rose by 20 MW to 70 MW in mid-March, with an expected increase to 100 MW shortly, facilitating operational improvements and exceeding production targets. In the first quarter, Kamoa-Kakula produced approximately 133,120 tonnes of copper, with the last two weeks of March seeing an annualized production rate above the company's 2025 guidance. The new direct-to-blister smelter is set to begin operations next month, targeting production of 99.7% pure copper anodes by July 2025, which is anticipated to significantly reduce operating costs. Ivanhoe's founder, Robert Friedland, emphasized that the increased hydropower supply resolves previous energy challenges and positions the company as one of the lowest-cost copper producers in the industry. The operational enhancements and cost reductions are expected to further strengthen Ivanhoe Mines' market position in the copper sector.