Production from Kamoa-Kakula’s Phase 1 and 2 concentrators achieved a near-record 35,474 tonnes of copper in May, benefitting from additional imported power

New York, New York–(Newsfile Corp. – June 11, 2024) – Ivanhoe Mines’ (TSX: IVN) (OTCQX: IVPAF) Executive Co-Chair Robert Friedland announced today, ahead of his appearance at the 2024 Evercore Global Clean Energy & Transition Technologies Summit at the Mandarin Oriental Hotel in New York, that on June 10, 2024, first concentrate production by Kamoa-Kakula’s Phase 3 concentrator in the Democratic Republic of the Congo (DRC) was celebrated by the mine-site management and employees. First copper concentrate was achieved approximately two weeks after the first feed of ore into the concentrator, as announced on May 28, 2024. The Phase 3 concentrator expansion was completed nearly two quarters ahead of schedule and is expected to boost production to over 600,000 tonnes of copper per annum, with ramp-up to commercial production targeted for early in the third quarter.

Watch a video showing the completion of the Phase 3 concentrator and production of first concentrate: https://vimeo.com/956315897/71af95aa07?share=copy

The Phase 3 concentrator will process ore from the newly developed and adjacent Kamoa 1 and 2 underground mines, as well as connect the new Kansoko underground mine. At 5 million tonnes per annum (Mtpa), the design capacity of the Phase 3 concentrator is 30% larger than the original design capacities of the Phase 1 and 2
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