Welcome to our dedicated page for Ivanhoe Mines news (Ticker: IVPAF), a resource for investors and traders seeking the latest updates and insights on Ivanhoe Mines stock.
Ivanhoe Mines Ltd (IVPAF) is a leading Canadian mining developer advancing world-class copper, zinc, and platinum-group metals projects across Southern Africa. This page provides investors with direct access to official press releases and verified news about operational milestones, sustainability initiatives, and strategic developments.
Discover timely updates on the Kamoa-Kakula Copper Complex’s production growth, Kipushi Mine’s high-grade zinc operations, and the Platreef Project’s progress toward becoming a major PGM producer. Our curated news collection ensures transparent tracking of resource estimates, partnership announcements, and technological innovations driving the company’s low-carbon mining practices.
Key updates include quarterly production results, exploration breakthroughs, and leadership insights – all essential for assessing Ivanhoe’s role in supplying critical metals for global energy transition. Bookmark this page to monitor operational efficiency gains, safety records, and ESG commitments across African operations.
Ivanhoe Mines announced the completion of construction of the Kipushi concentrator ahead of schedule, with first ore fed on May 31, 2024, and initial concentrate produced on June 14, 2024. The Kipushi mine, located in the Democratic Republic of Congo, is set to produce 100,000-140,000 tonnes of zinc concentrate in 2024 and aims to average 278,000 tonnes annually over the first five years, making it the fourth-largest zinc mine globally. Off-take agreements have been signed with CITIC Metal and Trafigura, along with $170 million in financing facilities secured. The concentrator's capacity is planned to increase by 20% to 960,000 tonnes annually. The Kipushi mine is also confirmed as the world's lowest carbon-emission intensive zinc mine based on Scope 1 and 2 emissions. The project is a joint venture with Gécamines, who will increase their shareholding over time. This milestone marks the return of operations at Kipushi after 31 years, highlighting its potential to significantly impact global zinc markets.
Ivanhoe Mines announced the election results for its Board of Directors at the Annual General Meeting held on June 20, 2024. All nominees listed in the management proxy circular dated April 29, 2024, were successfully elected. Notable results include Robert M. Friedland receiving 97.95% of votes in favor, Weibao (Webber) Hao with 97.42%, and Jinghe Chen with 98.72%. The votes were overwhelmingly in favor for most candidates, with the lowest percentage of votes for Delphine Traoré at 91.15%. Full details of the votes and other business matters are available on SEDAR+.
Ivanhoe Mines announced the first concentrate production from its Kamoa-Kakula Phase 3 concentrator on June 10, 2024, ahead of schedule by nearly two quarters. This expansion is expected to boost annual copper production to over 600,000 tonnes, positioning it as the third-largest copper mining complex worldwide. In May 2024, Phases 1 and 2 achieved a near-record production of 35,474 tonnes of copper. The improved power stability, due to imported power from Zambia and Mozambique, contributed significantly to this achievement. Concurrently, a significant expansion in backup power capacity is underway, aiming for over 200 MW by the end of 2024. Ivanhoe Mines is also progressing with 'Project 95', targeting a 95% copper recovery rate, and planning an accelerated Phase 4 expansion.
Ivanhoe Mines has completed construction of the Phase 3 concentrator at its Kamoa-Kakula Copper Complex in the Democratic Republic of Congo ahead of schedule and on budget.
The first ore was fed into the concentrator on May 26, 2024, with commercial production expected by early Q3 2024. This expansion boosts the copper production capacity to over 600,000 tonnes per annum, making Kamoa-Kakula the world's fourth-largest copper mining complex.
Notably, the project recorded zero lost-time injuries during construction. Phase 1 and 2 concentrators have already produced over 63,000 tonnes of copper since April, benefiting from improved power stability.
Future growth initiatives include 'Project 95,' targeting a 95% recovery rate, and plans to accelerate Phase 4 expansion. Kamoa-Kakula’s 2024 production guidance remains at 440,000 to 490,000 tonnes of copper in concentrate.
Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) announces that Robert Friedland will speak at the Qatar Economic Forum on May 16, 2024, and Marna Cloete will present at the BofA Securities Global Metals, Mining & Steel Conference on May 14, 2024. Investors can watch the events online.
Ivanhoe Mines reported a Q1 2024 loss of $69 million but recorded a normalized profit of $70 million with adjusted EBITDA of $126 million. Kamoa-Kakula sold 85,155 tonnes of payable copper, recognized revenue of $618 million, and produced 86,203 tonnes of copper in Q1 2024. The company's annual production guidance for Kamoa-Kakula is maintained at between 440,000 to 490,000 tonnes of copper. Pre-commissioning of Phase 3 concentrator is ahead of schedule. Kamoa-Kakula secured 15 MW of imported grid power and expects an additional 40 MW from Mozambique. Kipushi zinc concentrator pre-commissioning underway, aiming to produce over 270,000 tonnes. Ivanhoe Mines completed 17,000 meters of diamond drilling in the Western Forelands. Company's balance sheet shows $411 million in cash and cash equivalents. Ivanhoe Mines announced the redemption of all its outstanding 2.50% Convertible Senior Notes due 2026.
Ivanhoe Mines announced the redemption of its $575 million 2.50% Convertible Senior Notes due 2026, reducing its debt to below $150 million. The redemption date is set for July 11, 2024, at a price equal to the principal amount plus accrued interest. Holders can choose to convert their notes before the redemption date at a specified conversion rate.
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