Ivanhoe Mines Publishes Eighth Annual Sustainability Report

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Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) has released its eighth annual Sustainability Report for 2024, highlighting significant ESG achievements and commitment to responsible mining practices. The company's 'Mining with a greater purpose' philosophy delivered notable results including:

- Improved safety metrics with TRIFR reduced to 0.89 and LTIFR at 0.33
- Generated and distributed $5 billion in total value, with $1 billion paid in government taxes and royalties
- Expanded workforce by 38% with 2,900 new employees and $194 million in wages and benefits
- Completed Africa's largest eco-friendly copper smelter
- Achieved 75% local procurement sourcing
- Completed Platreef's 5-MW solar power facility

The report adheres to global frameworks including GRI 14, WEF SCM, LPRM, ICMM, and UNGC, demonstrating the company's commitment to sustainable mining excellence and stakeholder value creation.

Ivanhoe Mines highlights 2024 sustainability performance and charts path to becoming a global industry leader

Johannesburg, South Africa--(Newsfile Corp. - April 16, 2025) - Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) today released its eighth annual Sustainability Report, showcasing the company's environmental, social, and governance (ESG) achievements throughout 2024. The comprehensive report details Ivanhoe's continued commitment to responsible mining practices and sustainable development across its operations.

Ivanhoe Mines' sustainability strategy is rooted in a core philosophy: "Mining with a greater purpose," which guides its approach to responsible resource development with initiatives aligned to the UN's 2030 Sustainable Development Goals. As a leader in the mining sector, Ivanhoe Mines continues to play a vital role in supplying critical metals that power the global energy transition while also pioneering innovative and responsible mining practices. The 2024 Sustainability Report details the ways this commitment is integrated throughout Ivanhoe's key projects.

Transformative achievements in 2024 include:

• Improvement in health and safety across all sites, with Total Recordable Injury Frequency Rate (TRIFR) reduced from 0.94 to 0.89 and a group Lost-Time Injury Frequency Rate (LTIFR) of 0.33 (per million manhours worked).
• Safety performance across operations remained exceptional with Total Recordable Injury Frequency Rates (TRIFR) significantly outperforming the industry standard: Kamoa-Kakula at 0.88, Platreef at 1.2, and Kipushi at 0.6 – all substantially below the International Council on Mining and Metals (ICMM) 2023 industry average of 2.59.
• During Phase 3 construction at the Kamoa-Kakula Copper Complex, a Total Recordable Injury Frequency Rate (TRIFR) of 0.20 was achieved across a workforce of 10,500 contractors.
• In 2024, Ivanhoe Mines, together with our joint venture partners, created and distributed a total value of $5 billion.
• Approximately $1 billion was paid in government taxes and royalties in 2024.
• Ivanhoe Mines expanded its global workforce significantly in 2024, welcoming nearly 2,900 new employees – a 38% increase from the previous year.
• $194 million was contributed to wages and benefits.
• Ivanhoe Mines completed the construction of Africa's largest and most environmentally friendly copper smelter.
• Professional development opportunities were delivered to 1,800 employees, resulting in 505 internal promotions.
• Ivanhoe Mines demonstrates a strong commitment to local economic development, with approximately 75% of all procurement sourced from local suppliers and contractors.
• Reported complete Scope 3 GHG emissions for the first time, increasing transparency and providing a deeper understanding of Ivanhoe's indirect carbon footprint.
• Construction of Platreef's 5-MW solar power facility was completed in early 2025. The power generated by the plant will support development activities and operations.
• Strengthened human rights compliance through comprehensive due diligence assessments across all major operations in 2024, including Platreef, Kipushi, and an updated review at Kamoa-Kakula, with the latter incorporating an additional assessment based on the Voluntary Principles on Security and Human Rights (VPSHR).

Ivanhoe Mines' President and Chief Executive Officer, Marna Cloete, commented:

"Our 2024 Sustainability Report represents more than just a collection of achievements – it's a testament to our vision of reimagining mining for the future and marks a pivotal moment in our evolution as we strengthen our position as a global leader in sustainable mining excellence. This year's results prove that mining can align business excellence with purpose. We've shown that by responding to the evolving needs of our stakeholders and employees, while maintaining our commitment to sustainability, we can create meaningful impact for our communities while delivering value to our shareholders."

The report maintains rigorous adherence to global reporting frameworks, including:

• Global Reporting Initiative's GRI 14: Mining Sector Standard 2024
• World Economic Forum's Stakeholder Capitalism Metrics (WEF SCM).
• Local Procurement Reporting Mechanism (LPRM)
• International Council on Mining and Metals' 10 principles (ICMM)
• United Nations Global Compact (UNGC)

This comprehensive approach ensures transparent communication with stakeholders while maintaining alignment with international best practices in sustainability reporting.

For the full 2024 Sustainability Report, visit the Ivanhoe Mines website:
https://www.ivanhoemines.com/investors/document-library/#sustainability

Watch the video introducing the eighth annual Sustainability Report and its achievements across Ivanhoe's projects:
https://youtu.be/mV2hPQSU08g

Ivanhoe Mines 2024 Sustainability Report

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Featured below are some 2024 initiatives captured in photos that showcase real progress toward a sustainable future.

Carl Schoeman, Environmental Coordinator, tends to the beehives at Platreef's expanding apiary program. The initiative, part of Ivanhoe Mines' biodiversity and sustainable farming commitment, saw remarkable growth in 2024 with an expansion from five to 60 hives at New Horizon Farm.

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Students from the class of 2024/2025 at the Kamoa Centre of Excellence. The Centre is a higher education facility built by Kamoa Copper to produce the next generation of mining leaders.

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Kamoa-Kakula launched an environmental awareness and waste campaign in eight local primary schools to teach young school children the importance of keeping the schools clean, protecting our earth, and taking action.

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DRC President, His Excellency Félix Tshisekedi, alongside Ivanhoe Mines' President Marna Cloete and Gécamines' Chairman Guy Robert Lukama, cuts the ribbon to mark the formal reopening of the Kipushi Mine.

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For a second year, Platreef has partnered with Captain Fanplastic to educate young community members on the importance of managing waste, preventing plastic pollution, and driving changes through environmental awareness.

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Graduates of the Alfa Congo Adult Literacy Program gather outside the Kamoa Centre of Excellence. Students from ten local communities completed the nine-month program, gaining essential numeracy and literacy skills.

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Local resident, Ferdinand Mutumba, tends to the tomato plants in the community garden, part of the new Sustainable Livelihoods Program at Kipushi.

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About Ivanhoe Mines
Ivanhoe Mines is a Canadian mining company focused on advancing its three principal projects in Southern Africa; the expansion of the Kamoa-Kakula Copper Complex in the DRC, the ramp-up of the ultra-high-grade Kipushi zinc-copper-germanium-silver mine, also in the DRC, and the phased development of the tier-one Platreef palladium-nickel-platinum-rhodium-copper-gold project in South Africa.

Ivanhoe Mines is also exploring its highly prospective, 60-100% owned exploration licences in the Western Forelands, covering an area over five times larger than the adjacent Kamoa-Kakula Copper Complex. Ivanhoe is exploring for new sedimentary copper discoveries, as well as expanding and further defining its high-grade Makoko, Kiala, and Kitoko copper discoveries as the company's next major development projects.

Information contact

Follow Robert Friedland (@robert_ivanhoe) and Ivanhoe Mines (@IvanhoeMines_) on X.

Information contact

Investors

Vancouver: Matthew Keevil +1.604.558.1034 

London: Tommy Horton +44 7866 913 207 

Media

Tanya Todd +1.604.331.9834

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/248773

FAQ

What are the key safety improvements in Ivanhoe Mines (IVPAF) 2024 sustainability report?

Ivanhoe achieved a Total Recordable Injury Frequency Rate (TRIFR) of 0.89 and LTIFR of 0.33, with exceptional performance across operations: Kamoa-Kakula (0.88), Platreef (1.2), and Kipushi (0.6), all below the ICMM industry average of 2.59.

How much economic value did Ivanhoe Mines (IVPAF) generate and distribute in 2024?

Ivanhoe Mines and its joint venture partners created and distributed $5 billion in total value, with $1 billion paid in government taxes and royalties and $194 million in wages and benefits.

What environmental initiatives did Ivanhoe Mines (IVPAF) implement in 2024?

Key initiatives included completing Africa's largest eco-friendly copper smelter, constructing Platreef's 5-MW solar facility, reporting complete Scope 3 GHG emissions, and implementing biodiversity programs like the Platreef apiary expansion.

What is Ivanhoe Mines' (IVPAF) commitment to local development in 2024?

The company sourced approximately 75% of procurement from local suppliers, provided professional development to 1,800 employees resulting in 505 internal promotions, and expanded various community programs including the Kamoa Centre of Excellence.