Ivanhoe Mines Issues 2026 Third-Quarter Financial Results, Overview of Operations and Exploration Activities

Robert Friedland, Founder and Co-Chairman of Ivanhoe Mines

“Our engineering teams have made the necessary decisions at Kamoa-Kakula to derisk and restore one of the world's greatest copper complexes to the top of tier-one status.”

Robert Friedland, Founder and Co-Chairman of Ivanhoe Mines

“The revised production and cost guidance over the short term reflects a disciplined approach to the ongoing turnaround at Kamoa-Kakula, prioritizing operational stability, mining flexibility and the sustainable recovery of annualized copper production to approximately 500,000 tonnes.”

Robert Friedland, Founder and Co-Chairman of Ivanhoe Mines

“Operational improvements that we've already made are delivering strong tangible results… Mining rates increased significantly during the quarter, concentrator recoveries continue to improve, and our copper smelter is generating substantial economic benefits… Sales from sulphuric acid are now more than paying for our smelter's operating costs… We continue to benefit from the substantially lower transportation costs of delivering our copper to the world market in 99.7%-pure copper anodes… Our phased investment in solar power is already displacing very expensive diesel-powered generation. These structural improvements will strengthen Kamoa-Kakula's competitiveness long after our current challenges have been overcome.”

Robert Friedland, Founder and Co-Chairman of Ivanhoe Mines

“We have updated our pathway at Kamoa-Kakula to restore annual copper production to approximately 500,000 tonnes through the Phase 4 expansion, while the introduction of very high-grade open-pit mining will create resilience and operational flexibility across the entire complex. Kamoa-Kakula will unveil this next chapter of development in March 2027.”

Robert Friedland, Founder and Co-Chairman of Ivanhoe Mines

“Meanwhile, Kipushi has grown to be the world's third-largest zinc mine, demonstrating the unique quality of the highest-grade zinc orebody in the world… delivering record zinc production and more than doubling quarterly EBITDA to $108 million… At Platreef, we continue to build one of the world's most important producers of platinum, palladium, nickel, rhodium, gold, and copper… and immediately to the west of Kamoa-Kakula, our exploration team continues to unlock and prove the immense potential of the Western Forelands, home to the world's largest, fastest-growing and highest-grade copper discovery of the past decade.”

Robert Friedland, Founder and Co-Chairman of Ivanhoe Mines

“The world is entering an era of unprecedented demand for the metals that underpin electrification, reduction of global warming gases, artificial intelligence, advanced manufacturing and national security. The importance of discovering, developing and responsibly producing these metals has never been greater. Ivanhoe's team is more intensely dedicated than ever to the task.”