Ivanhoe Mines

Interactive Annual Report 2020

Thank you for joining us on an extraordinary journey in Southern Africa.

On May 25, 2021, Kamoa Copper reached first copper production at the initial 3.8Mtpa Kakula Mine, and we are on track to become a long-life, responsible producer of critical green metals, which the world needs desperately for global decarbonization and the electrification of its economy.

About Ivanhoe Mines

Ivanhoe Mines (TSX: IVN; OTCQX: IVPAF) is a Canadian mining company focused on advancing its three principal projects in Southern Africa: the development of new Tier One mines at the Kamoa-Kakula copper discovery in the Democratic Republic of Congo (DRC) and the Platreef platinum-palladium-nickel-copper-gold discovery in South Africa; and the extensive redevelopment and upgrading of the historic, high-grade Kipushi zinc-copper-germanium-silver mine, also in the DRC.

On May 25, 2021, Ivanhoe announced the start of copper concentrate production at the Phase 1, 3.8-million-tonne-per-annum (Mtpa) Kamoa-Kakula Mine. Ivanhoe also is exploring for major, new copper discoveries on its 100%-owned Western Foreland exploration licences in the DRC, near the Kamoa-Kakula Project.

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Key Development Projects

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Platreef

South Africa

Development of the planned underground mine at the Flatreef Discovery of platinum-group elements, nickel, copper and gold, in the northern Bushveld Complex. Initial production currently is scheduled to begin in 2024.

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Kamoa-Kakula

Democratic Republic of the Congo

Construction of multiple, high-grade underground mines at the Kakula and Kamoa copper deposits, with initial copper production beginning in May 2021. Kamoa-Kakula is Africa's largest high-grade copper discovery and, through phased expansions, is positioned to become one of the world's largest copper producers.

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