Ivanhoe Mines’ President & Chief Executive Officer Marna Cloete and Chief Financial Officer David van Heerden are pleased to announce the company’s financial results for the first quarter of 2025, as well as an operations and project development update.
Ivanhoe Mines is a leading Canadian mining company developing and operating its four principal mining and exploration projects in Southern Africa: expanding production at the tier-one Kamoa-Kakula Copper Complex in the Democratic Republic of the Congo (DRC); ramping up the ultra-high-grade Kipushi zinc-copper-lead-germanium mine in the DRC; building the tier-one Platreef platinum, palladium, rhodium, nickel, gold, and copper mine in South Africa; and advancing exploration for new copper discoveries across the expansive exploration licenses of Ivanhoe’s Western Forelands Exploration Project, which hosts the Makoko, Kitoko, and Kiala copper discoveries near Kamoa-Kakula.
Founder and Co-Chairman Robert Friedland commented:
“Ivanhoe Mines is proud to report strong financial and operational performance in the first quarter of 2025, reflecting the significant efforts of our team and the broad shoulders of the world-class Kamoa-Kakula Copper Complex.
“As we announced earlier this month, the initiatives to overcome power challenges and secure sustainable short, medium, and long-term energy sources for the growth of the world’s most important copper mine are beginning to bear fruit.
“Kamoa-Kakula is set for record production in the shorter month of April, achieving approximately 50,000 tonnes of copper in concentrate, equivalent to an annualized rate of over 600,000 tonnes – a remarkable achievement. This will provide the basis from which to continue our growth in 2026, including our optimization projects such as Project 95, even before the Phase 4 expansion.
“The start-up of Africa’s largest and greenest direct-to-blister is just a few weeks away, which transforms Kamoa-Kakula into a fully integrated, lowcost, multi-generational supermajor copper complex. First production of 99+% pure copper anodes is expected in July. This milestone will lower transportation costs by more than 50% per unit of contained copper while enabling us to sell by-product sulphuric acid locally to meet rising demand in the Democratic Republic of the Congo’s copper industry.
“Exploration continues to play a vital role in our future growth. On our Western Forelands licenses, we are making significant progress and will release an interim Mineral Resource update by mid-May. This update will highlight the immense potential of this highly prospective region adjacent to Kamoa-Kakula.
“We have also recently expanded our exploration efforts into Zambia, a country with tremendous geological prospectivity outside of the known Copperbelt region. The government of Zambia is also a critical partner in addressing long-term energy in the Southern African region.
“Finally, we praise the leadership of the governments of the United States and Qatar for bringing together the governments of the DRC and Rwanda to agree on principles of peace and prosperity, opening the way for increased investment and the responsible development of DRC’s huge critical minerals endowment that will be required to meet the rising global demand for these essential metals.”
You can read the full report here: Ivanhoe Mines Q1 2025 Financial Report.
