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  • Ivanhoe Mines (IVN) reached a new daily production record of 729 tonnes of copper concentrate on October 25, 2021
  • Production during the last 10 days of October averaged 611 tonnes of copper in concentrate per day
  • The Phase 1 concentrator plant is operating at steady-state design capacity, meaning that further production updates will be provided only on a quarterly basis
  • Ivanhoe Mines is a mineral exploration and development company
  • Shares in Ivanhoe Mines Ltd. (IVN) are up 1.24 per cent, trading at $9.83 per share

Ivanhoe Mines (IVN) reached a new daily production record of 729 tonnes of copper concentrate on October 25, 2021.

The company milled a total of 323,368 tonnes of ore in October at an average feed grade of 5.89% copper, exceeding the monthly design run rate of 316,667 tonnes.

Production during the last 10 days of October averaged 611 tonnes of copper in concentrate per day.

In Kamoa Copper’s fifth full month of production, which ended October 20, the facility produced a record 16,211 tonnes of copper concentrate, nearing the Phase 1 target output of 16,666 tonnes per month, or 200,000 tonnes per annum.

Mark Farren, Kamoa Copper’s CEO, commented,

“October was an important milestone month for us in many ways. The project team managed to commission the second concentrate filter press which we believe will create a lot of flexibility downstream.”

The Phase 1 concentrator plant is operating at steady-state design capacity, meaning that further production updates will be provided only on a quarterly basis. The company will continue to release updates on Phase 2 construction progress.

“Barring any major issues,” added Mr. Farren, “the operational team is confident that we will reach the upper end of our production guidance of between 90,000 and 95,000 tonnes of copper in concentrate in 2021.”

Construction of the second 3.8-Mtpa concentrator plant (Phase 2) is progressing well, with the overall project approximately 60% complete.

Ivanhoe Mines will report its Q3 2021 financial results before market open on Monday, November 15, 2021, which will include the inaugural quarterly financial results for Kamoa-Kakula.

Ivanhoe Mines is a mineral exploration and development company that explores, develops, and recovers minerals and precious gems from its property interests in Africa.

Shares in Ivanhoe Mines Ltd. (IVN) are up 1.24 per cent, trading at $9.83 per share as of 10:07 am ET.

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