Ivanhoe meets 2025 copper, zinc output targets as Kamoa-Kakula smelter ramps up

ACCRA, Jan 15 (Reuters) - Ivanhoe Mines IVN.TO said on Thursday it met its 2025 output targets at the Kamoa-Kakula copper complex and Kipushi zinc mine in Congo and issued guidance pointing to a steady recovery after a year of disruptions and a pivotal smelter ramp‑up.

Kamoa‑Kakula is widely viewed as one of the world’s most significant new copper sources, making details of Canadian miner Ivanhoe's 2025 output and steady 2026 targets critical in a market facing tight supply and slow project growth.

The mine's ability to hold production within guidance, alongside the ramp‑up of its new smelter, reinforces Ivanhoe's rising influence in the copper sector, while record output at Kipushi underscores its growing weight in zinc.

Kamoa-Kakula spent 2025 tackling water inflows that restricted access to higher‑grade ore and weighed on recoveries, forcing a staged de-watering push.

Ivanhoe said Kamoa-Kakula delivered 388,838 metric tons of copper in concentrate in 2025, landing within its 380,000–420,000 ton guidance range.

The result reflected record throughput from the Phase 3 concentrator and the early benefits of destocking as the mine transitions to on‑site smelting.

Ivanhoe reaffirmed 2026 copper output guidance at 380,000–420,000 tons, saying production should strengthen as underground dewatering progresses and higher‑grade areas become accessible.

A key milestone for the complex was the late‑2025 start‑up of Africa’s largest copper smelter, which the company said is now averaging 500 tons per day of 99.7%‑pure copper anodes.

First exports are expected imminently, it said.

Ivanhoe said the ramp‑up would cut logistics costs by more than halving the tons of material transported per unit of copper, while generating new revenue streams through sulphuric acid production.

Kamoa-Kakula's 2026 copper sales are expected to be 20,000 tons higher than production as the inventory of unsold copper concentrate is destocked, mainly during the first half of the year, the results showed.

At Kipushi, Ivanhoe reported a record 203,168 tons of zinc in concentrate in 2025, achieving guidance after a strong second‑half recovery supported by improved power stability and a de-bottlenecking programme completed ahead of schedule.

Ivanhoe set 2026 zinc guidance at 240,000–290,000 tons, adding that December production alone implied an annualised run rate exceeding 270,000 tons.