Ivanhoe Mines reported that its Kamoa-Kakula Copper Complex in the Democratic Republic of Congo (DRC) produced 100,812 tonnes of copper in concentrate during Q2 2024, and 186,925 tonnes in the first half of 2024. 

Ivanhoe Mines reported that its Kamoa-Kakula Copper Complex in the Democratic Republic of Congo (DRC) produced 100,812 tonnes of copper in concentrate during Q2 2024, and 186,925 tonnes in the first half of 2024. This compares with 197,389 tonnes in the first half of 2023, a year-on-year decrease of about 5%. The company anticipates that the new 5Mtpa Phase 3 concentrator, which commenced operations on June 10, will reach steady-state production by the third quarter, increasing annual production capacity to over 600,000 tonnes.

In the second quarter, the Phase 1 and 2 concentrators processed approximately 2.3 million tonnes of ore at an average grade of 5.3% copper, producing 99,706 tonnes of concentrate with a flotation recovery rate of 87%. The newly completed Phase 3 concentrator, ahead of schedule, has already contributed an additional 1,100 tonnes since its first output. The company is already planning the addition of concentrators numbers 4 and 5 over the next couple of years. Kamoa-Kakula is also currently constructing what will become Africa’s largest copper smelter, capable of producing 500,000 tonnes of 99% purity copper anode, when completed.

As of June 30, 2024, Kamoa-Kakula has an ore stockpile of 4.82 million tonnes at a grade of 3.26% copper. This includes 2.31 million tonnes at an average grade of 3.72% at Kakula and 2.51 million tonnes at an average grade of 2.85% at Kamoa and Kansoko. These stockpiles, containing over 70,000 tonnes of copper ore, will be used for the commissioning and ramp-up of the new Phase 3 concentrator.

Efforts to stabilise the DRC's power grid, crucial for Kamoa-Kakula's operations, are ongoing in collaboration with La Société Nationale d’Electricité (SNEL). These upgrades, which commenced in March 2024, aim to enhance transmission capacity and reliability by late-2025. Additionally, Kamoa Copper is increasing its own on-site backup power capacity to over 200MW by year-end to ensure operational stability.