Ivanhoe Mines Reports Record Quarterly Production
Kolwezi, Democratic Republic of Congo--(Newsfile Corp) - Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) Executive Co-Chair Robert Friedland and President Marna Cloete are pleased to announce that the Kamoa-Kakula Copper Complex in the Democratic Republic of Congo (DRC) produced a record 103,786 tonnes of copper in concentrate during the second quarter of 2023. Kamoa-Kakula's Phase 1 and 2 concentrators are now operating at an increased throughput rate of 9.2 million tonnes per annum (Mtpa) following the ahead-of-schedule completion of the debottlenecking program during the first quarter. The Phase 1 and 2 concentrators set a monthly production record of 35,856 tonnes of copper in concentrate for May and produced 33,104 tonnes of copper during the shorter month of June. Kamoa-Kakula's Phase 1 and 2 concentrators milled approximately 2.2 million tonnes of ore during the second quarter at an average feed grade of 5.2% copper. This included high-grade, run-of-mine ore from the Kakula Mine, supplemented with ore from the surface stockpiles to achieve throughput in excess of the original design capacity. Strong copper recoveries continued for the quarter, averaging 87.2%. The second quarter brings Kamoa-Kakula's year-to-date production to 197,389 tonnes of copper in concentrate, which includes the ramp-up of the debottlenecking initiatives since February 2023. The 2023 annual production guidance for Kamoa-Kakula is maintained at between 390,000 to 430,000 tonnes of copper in concentrate. Watch a July 2023 video featuring production and development highlights at Kamoa-Kakula: https://vimeo.com/842255861/f0c4323d4c. Investment Disclaimer: This article is for informational purposes only and does not constitute investment advice. The performance and potential returns mentioned in this article are based on historical data and past performance is not indicative of future results. Investing in stocks or other financial instruments involves risks, including the potential loss of the invested capital. It is recommended to consult with a qualified financial advisor before making any investment decisions.