Ivanhoe Mines forecasts Kamoa-Kakula 2026 copper output of up to 420,000 tons

LONDON, Dec 3 (Reuters) - Ivanhoe Mines IVN.TO expects copper output at its Kamoa-Kakula complex in the Democratic Republic of Congo to reach 380,000–420,000 metric tons in 2026 and 500,000–540,000 tons in 2027 as its recovery plan advances, the company said on Wednesday.

The miner's target of about 550,000 tons per year beyond 2027 was unchanged and it will provide an updated life-of-mine plan towards the end of the first quarter of next year.

Copper sales in 2026 are expected to beat output as Ivanhoe clears about 20,000 tons of concentrate stock after its new smelter — Africa’s largest — starts up in December, shifting production to copper anodes, it said in its production guidance report.

Ivanhoe co-chair Robert Friedland said the company is “on the cusp of a transformational change” as Kamoa-Kakula shifts from producing copper concentrate to copper anodes.

Copper concentrate is a semi-processed material shipped to third-party smelters for refining. Copper anodes, meanwhile, are 99% pure and produced at smelters, ready for further refining or direct sale to manufacturers.

The company expects Kamoa-Kakula's 2025 copper output to be 370,000 to 420,000 tons after seismic disruptions earlier in the year.