The ever-successful Kamoa-Kakula Copper Complex, in the Democratic Republic of Congo, has produced 93 603 t of copper in concentrate in the first quarter of the year.
TSX-listed 39.6% shareholder of the complex Ivanhoe Mines says the Phase 1 and 2 concentrators are now regularly operating at a processing rate of 9.2-million tonnes a year, following the completion of a debottlenecking programme.
The $50-million debottlenecking programme was completed within budget and ahead of schedule late in February, increasing production capacity to 450 000 t/y of copper in concentrate.
The quarter under review included record monthly production of 34 915 t of copper in March, supported by a weekly production record of 9 016 t of copper and daily production record of 1 563 t of copper in March.
Kamoa-Kakula also achieved record average copper recoveries in March at rates higher than 88%.
Ivanhoe maintains the 2023 production guidance for Kamoa-Kakula at between 390 000 t and 430 000 t of copper in concentrate.
With the Phase 3 expansion well on track for 2024, Kamoa-Kakula represents a rare, high-margin growth story across the copper industry, states Ivanhoe.
The project is one of the world’s largest and highest grade copper complexes.
Moreover, Ivanhoe will soon ramp up exploration efforts on its between 90% and 100%-owned Western Foreland licences adjacent to Kamoa-Kakula, where the company plans on drilling 75 000 m over the remainder of this year.