Source: Ivanhoe Mines
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Ivanhoe Mines (IVN) continues to make progress on the construction of its Phase 2 concentrator plant at Kamoa-Kakula
  • Once the new plant is completed, it is expected to double Kamoa-Kakula’s copper production to approximately 400,000 tonnes per year
  • At the end of September, Kamoa-Kakula had surface ore stockpiles totalling approximately 3.66 million tonnes
  • Ivanhoe Mines is a Canadian mining company focused on advancing its three principal joint-venture projects in Southern Africa
  • Ivanhoe Mines Ltd. (IVN) opened trading at $8.68 per share

Ivanhoe Mines (IVN) continues to make progress on the construction of its Phase 2 concentrator plant at Kamoa-Kakula.

Once the new plant is completed, it is expected to double Kamoa-Kakula’s copper production to approximately 400,000 tonnes per year.

Construction is ahead of schedule and is expected to reach completion by the second quarter of 2022 instead of the original projected timeline of Q3 2022.

The Phase 2, 3.8 million-tonne-per-annum concentrator plant is a carbon copy of the Phase 1 concentrator plant, and is being constructed alongside the Phase 1 plant.

Mark Farren, CEO of Kamoa Copper, commented,

“Construction of the Phase 2 concentrator plant is progressing very well, and the project team is working hard to complete the project ahead of schedule, similar to what we did with the Phase 1 plant.”

At the end of September, Kamoa-Kakula had surface ore stockpiles totalling approximately 3.66 million tonnes grading 4.73% copper.

These stockpiles are in place to help ensure a smooth and efficient ramp up of the Phase 2 concentrator to steady-state production in 2022.

A second concentrate filter at the Phase 1 concentrator plant began operations on October 3, taking advantage of the high-grade copper ore being processed directly from Kakula’s underground mining operations and surface stockpiles, says the company.

“Having raised the bar for construction delivery, Ivanhoe Mines is setting its sights on raising the environmental, social and governance bar for the ultra-low-carbon copper production our world desperately needs for the energy transformation,” said Ivanhoe Mines founder and executive co-chair Robert Friedland.

Ivanhoe Mines is a Canadian mining company focused on advancing its three principal joint-venture projects in Southern Africa.

Kamoa-Kakula began producing copper concentrates in May 2021 and is positioned to become one of the world’s largest copper producers.

Ivanhoe Mines has pledged to achieve net-zero operational greenhouse gas emissions at the Kamoa-Kakula Copper Mine when large-scale electric, hydrogen and hybrid underground mining equipment become commercially available.

Ivanhoe Mines Ltd. (IVN) opened trading at $8.68 per share.

More From The Market Herald

" Foremost Lithium (CSE:FAT) expands presence in Snow Lake region

Foremost Lithium Resource & Technology (FAT) has signed an option agreement with Strider Resources.

" The nickel space is red hot and this explorer is heating up

When The Market Herald last caught up with Vancouver BC-based SKRR Exploration Inc. (TSXV:SKRR) and its “all-star management and board teams”
The Golddigger Property.

" Goliath (TSXV:GOT) finds large mineralization

B.C. exploration company Goliath Resources Limited (GOT) has shared a report on the Surebet discovery at its Golddigger Property.

" Osisko Development (TSXV:ODV) releases gold production totals

Osisko Development (ODV) released the latest production totals from a number of its projects Tuesday.