Kamoa Copper announces 2022 guidance

2022-01-17T06:56:18+00:00 January 17th, 2022|News|

Kamoa Copper announced that its 2022 annual production guidance is between 290,000 to 340,000 tonnes of copper in concentrate. The guidance range for cash costs (C1) per pound of payable copper in 2022 has been set at between USD1.20 and USD1.40 per pound.

Commencing operations on 25 May 2021 and achieving commercial production on 1 July 2021, Kamoa Copper exceeded the upper end of an increased guidance range of between 92,500 to 100,000 tonnes in 2021, producing a record monthly production of 18,853 tonnes in December, and 105,884 tonnes of copper concentrate overall in 2021.

In December, a record 372,000 tonnes of ore were milled at an average feed grade of 5.98% copper, exceeding the monthly design run rate of 316,667 tonnes by more than 17%. Copper flotation recoveries reached an all-time high of 88.5%. The Phase 1 steady-state design copper recovery is approximately 86%, depending on ore feed grade.

Robert Friedland, Ivanhoe Mines Executive Co-Chair, said of the company’s remarkable performance: “Kamoa Copper’s outstanding operational success in 2021 is a product of the culture and values promoted throughout the organisation.

 “Collectively we are determined to create long-term stakeholder and shareholder value through continued investment in discovering and developing world-class orebodies, technological innovation, strong corporate governance, environmental stewardship, empowering our host communities and intense focus on health and safety.”

Construction of the second 3.8 million tonnes per annum (Mtpa) concentrator plant (Phase 2) continues to progress ahead of schedule, with operations at the Phase 2 concentrator plant expected to commence in Q2 2022.

Kamoa Copper is also advancing the Phase 3 expansion, with operations at the first stream of the Phase 3 concentrator expected by the end of 2024. Phase 3 also includes the construction of a direct-to-blister smelter, with a production capacity of 500,000 tonnes per annum of blister copper.

Watch the latest video showcasing the progress being made on site by Kamoa Copper: