RIYADH, SAUDI ARABIA – Ivanhoe Mines’ (TSX: IVN; OTCQX: IVPAF) Executive Co-Chair Robert Friedland and President Marna Cloete announced today, ahead of the 2023 Future Minerals Forum at the King Abdulaziz International Conference Centre in Riyadh, Saudi Arabia, that the Kamoa-Kakula Mining Complex in the Democratic Republic of Congo (DRC) produced 333,497 tonnes of copper in concentrate in 2022, achieving the upper-end of the original 2022 production guidance range of 290,000 to 340,000 tonnes. Kamoa-Kakula’s 2022 production achievement represents a year-over-year increase of 215%.
The 2023 annual production guidance for Kamoa-Kakula is estimated at between 390,000 to 430,000 tonnes of copper in concentrate, following the anticipated completion of the debottlenecking program early in the second quarter of 2023.
Mr. Friedland commented: “Kamoa-Kakula has firmly established a track record of excellence during the development of Phase 1 and Phase 2 operations, which has led to an industry-leading growth profile in terms of copper production that will continue as we bring Phase 3 online. Kamoa-Kakula also stands out among its peers as one of the few mining operations worldwide to strongly deliver on its original 2022 production guidance, which is a further testament to the team of engineers and contractors who commissioned the Phase 2 concentrator several months ahead of schedule.”
“With the Phase 3 expansion well on track, including the integration of Africa's largest single-line blister-copper flash smelter, Kamoa-Kakula is poised to become one of the world's leading producers of vital copper metal for global markets ... a producer that will have one of the lowest, if not the lowest, carbon footprints in the industry. Ivanhoe Mines looks forward to a long, prosperous partnership with the Democratic Republic of Congo government, the Congolese people, our joint-venture partners, and the international investors that have been integral in making these exceptional achievements possible.”
Watch the video showcasing Kamoa-Kakula’s 2022 operational highlights: https://vimeo.com/787287927/780de2f2b9
2023 Production Guidance for the Kamoa-Kakula Mining Complex
Kamoa-Kakula’s 2023 production guidance is based on several assumptions and estimates as of December 31, 2022, including among other things, assumptions about the timing for the completion of the debottlenecking program. Guidance involves estimates of known and unknown risks, uncertainties and other factors that may cause the actual results to differ materially.
|Kamoa-Kakula 2023 Guidance|
Contained copper in concentrate (tonnes)
390,000 - 430,000
All figures are on a 100%-project basis and metal reported in concentrate is before refining losses or payability deductions associated with smelter terms.
Kamoa-Kakula produced 333,497 tonnes of copper in 2022, an increase of 215% compared with 2021
Kamoa-Kakula’s 2022 production guidance was raised from an initial range of 290,000 to 340,000 tonnes, following the successful ramp-up of Kamoa Copper’s Phase 2 concentrator plant, which was commissioned several months ahead of schedule and declared commercial production on April 7, 2022.
During the fourth quarter, Kamoa-Kakula produced 92,761 tonnes of copper. Kamoa-Kakula also reported 93,288 tonnes of copper floated, which includes the contained copper still in the circuit that was floated, but has not yet been filtered to produce a final concentrate. As of December 31, 2022, there was a balance of approximately 5,670 tonnes of copper in the circuit, which will be filtered into a final concentrate once the debottlenecking program is complete. For the full year of 2022, in line with the Kamoa-Kakula’s upper end of guidance, 338,087 tonnes of contained copper were floated.
The difference between floated and filtered copper arises from the current bottleneck in concentrate filter capacity, as the Phase 1 and 2 milling and flotation circuits continue to operate above design capacity. Floated copper is temporarily stored as a slurry in a fully-lined pond, which will be reclaimed into the concentrate thickener and filter press once the fourth Larox filter press is installed as part of the debottlenecking program.
Kamoa Copper’s previously announced debottlenecking program is over 90% complete and is progressing ahead of schedule. All the major equipment for the program, including the fourth Larox filter press from Metso Outotec of Espoo, Finland, has been delivered to the site. The final step of installation will take place over the next few months, with cold commissioning targeted to take place in April 2023.
The new concentrate thickener nears completion. Once complete, the Phase 1 and 2 concentrators are expected to reach a combined processing capacity of 9.2 million tonnes per annum.
In the foreground, the expansion of the concentrate storage and dispatch warehouse is nearing completion. The fourth Larox filter has been delivered to site and will soon be installed at the rear of the facility.
As part of the debottlenecking program, the new scavenger-cleaner flotation cell (circled in red) on the Phase 1 concentrator is undergoing final installation.
The debottlenecking program will increase the combined processing capacity of the Phase 1 and Phase 2 concentrator plants to approximately 9.2 million tonnes per annum and increase the rate of copper production to approximately 450,000 tonnes per annum.
During 2022, the Kamoa-Kakula Mining Complex milled approximately 7.1 million tonnes of ore at an average feed grade of 5.5% copper and produced 333,497 tonnes of copper in concentrate. A total of 2.0 million ore tonnes were milled during the fourth quarter at an average feed grade of 5.4% copper.
Tonnes of ore milled in the fourth quarter were slightly lower by approximately 3.5%, on a quarter-on-quarter basis due to intermittent electrical power supply disruptions on the DRC grid. Kamoa Copper is working with the DRC state-owned power utility, SNEL, to minimize any future disruptions to operations.
On December 27, 2022, a total of 27,424 dry tonnes of ore were milled through the Phase 1 and 2 concentrators ̶ a daily record for both facilities. This is equivalent to an milling rate of 9.1 million tonnes per annum (after accounting for availability).
A total of 120,000 tonnes were drawn from the run-of-mine stockpiles in the fourth quarter. While the ongoing expansion of underground infrastructure at the Kakula Mine takes place, ore continues to be drawn periodically from the stockpile to maximize copper production, as the concentrators are currently operating over design capacity.
The recently completed east truck tip and bin at the Kakula underground mine will increase mining rates to feed the Phase 1 and 2 concentrators.
Kamoa-Kakula’s high- and medium-grade ore surface stockpiles totaled approximately 4.08 million tonnes at an estimated, blended average grade of 4.05% copper. Contained copper in the stockpiles at the end of December totaled more than 165,000 tonnes (the current copper price is approximately $8,600 per tonne).
Copper flotation recoveries during 2022 from the Phase 1 and 2 concentrators averaged 86%.
The Kamoa Copper process engineering team, together with several internationally-recognized external metallurgy specialists, continue to investigate the feasibility of new technologies to economically recover additional copper from the tailings stream of the Phase 1 and 2 concentrators, to potentially increase overall recoveries above Kamoa-Kakula’s 86% design target.
The Kamoa-Kakula 2023 Integrated Development Plan expected to be released later this month, in addition to cash cost and capital expenditure guidance
An updated 2023 Integrated Development Plan (Kamoa-Kakula 2023 IDP) for the life-of-mine of the Kamoa Kakula Mining Complex, including both the Phase 3 and Phase 4 expansions, as well as the smelter, is expected to be released during the week of January 30, 2023.
Following the publication of the Kamoa-Kakula 2023 IDP, Ivanhoe Mines also will provide a guidance range for C1 cash costs (C1) per pound of payable copper for 2023, as well as updated capital cost guidance for 2023 and 2024 across the Kamoa-Kakula, Platreef and Kipushi projects.
Safety briefing held on the construction site of the Phase 3 concentrator. To date, the construction sites for the Phase 3 concentrator and smelter, as well as the housing and community projects have achieved zero recordable injuries and an impressive 7,486,670 hours free of lost time injury (LTI).
Ivanhoe Mines to issue 2022 financial results and host conference call for investors on February 27
Ivanhoe Mines will report its Q4 and full-year 2022 financial results, and a detailed update on its operations, before the market opens on Monday, February 27, 2023.
The company plans to hold an investor conference call to discuss the full-year 2022 financial results on the same day. Details of the call with shared closer to the date.
An audio webcast recording of the conference call, together with supporting presentation slides, will be available on Ivanhoe Mines’ website at www.ivanhoemines.com.
After issuance, the Financial Statements and Management’s Discussion and Analysis will be available at www.ivanhoemines.com and www.sedar.com.
Disclosures of a scientific or technical nature at the Kamoa-Kakula Mining Complex in this news release have been reviewed and approved by Steve Amos, who is considered, by virtue of his education, experience and professional association, a Qualified Person under the terms of NI 43-101. Mr. Amos is not considered independent under NI 43-101 as he is Ivanhoe Mines’ Executive Vice President, Projects. Mr. Amos has verified the technical data disclosed in this news release.
Other disclosures of a scientific or technical nature regarding the stockpiles in this news release have been reviewed and approved by George Gilchrist, who is considered, by virtue of his education, experience and professional association, a Qualified Person under the terms of NI 43-101. Mr. Gilchrist is not considered independent under NI 43-101 as he is the Vice President, Resources of Ivanhoe Mines. Mr. Gilchrist has verified the other technical data regarding the surface stockpiles disclosed in this news release.
Ivanhoe has prepared an independent, NI 43-101-compliant technical report for the Kamoa-Kakula Project, which is available on the company’s website and under the company’s SEDAR profile at www.sedar.com:
- Kamoa-Kakula Integrated Development Plan 2020 dated October 13, 2020, prepared by OreWin Pty Ltd., China Nerin Engineering Co., Ltd., DRA Global, Epoch Resources, Golder Associates Africa, KGHM Cuprum R&D Centre Ltd., Outotec Oyj, Paterson and Cooke, Stantec Consulting International LLC, SRK Consulting Inc., and Wood plc.
The technical report includes relevant information regarding the assumptions, parameters and methods of the mineral resource estimates on the Kamoa-Kakula Mining Complex cited in this news release, as well as information regarding data verification, exploration procedures and other matters relevant to the scientific and technical disclosure contained in this news release.
About Ivanhoe Mines
Ivanhoe Mines is a Canadian mining company focused on advancing its three principal projects in Southern Africa; the expansion of the Kamoa-Kakula Mining Complex in the DRC, the construction of the tier-one Platreef palladium-rhodium-platinum-nickel-copper-gold project in South Africa; and the restart of the historic ultra-high-grade Kipushi zinc-copper-germanium-silver mine, also in the DRC.
Ivanhoe Mines is also exploring for new copper discoveries across its circa 2,400km2 of 90-100% owned exploration licences in the Western Foreland, which are located adjacent to, or in close proximity to, the Kamoa-Kakula Mining Complex in the DRC.
Follow Robert Friedland (@robert_ivanhoe) and Ivanhoe Mines (@IvanhoeMines_) on Twitter.
Vancouver: Matthew Keevil +1.604.558.1034
London: Tommy Horton +44 7866 913 207
Tanya Todd +1.604.331.9834
Certain statements in this release constitute “forward-looking statements” or “forward-looking information” within the meaning of applicable securities laws. Such statements and information involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company, its projects, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as “may”, “would”, “could”, “will”, “intend”, “expect”, “believe”, “plan”, “anticipate”, “estimate”, “scheduled”, “forecast”, “predict” and other similar terminology, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. These statements reflect the company’s current expectations regarding future events, performance and results and speak only as of the date of this release.
Such statements include without limitation, (i) that 2023 production guidance for the Kamoa Kakula Mining Complex is expected to be between 390,000 and 430,000 tonnes of copper in concentrate; (ii) statements that the debottlenecking program will be complete in early Q2 2023 and increase annualized production rate to 450,000 tonnes of copper in concentrate; (iii) that the Kamoa-Kakula 2023 Integrated Development Plan will be issued during the week of January 30, 2023, and will include cash cost and capital expenditure guidance; (iv) that the debottlenecking program will increase the combined design processing capacity of the Phase 1 and Phase 2 concentrator plants to approximately 9.2 million tonnes per annum; (v) that the final step of the debottlenecking program installation will take place over the next few months, with cold commissioning targeted to take place in April 2023.; (vi) that debottlenecking program is over 90% complete and will enable the copper production rate from the Phase 1 and 2 concentrators to reach approximately 450,000 tonnes per annum; (vii) that Kamoa Copper is working with DRC's state-owned power utility, SNEL, to minimize any future disruptions to operations; (viii) that the 2023 Integrated Development Plan for the life-of-mine of the Kamoa Kakula Mining Complex, will include both the Phase 3 and Phase 4 expansions, as well as the smelter, is expected to be released during the week of January 30, 2023; (ix) that the 2023 Integrated Development Plan will also include a guidance range for C1 cash costs (C1) per pound of payable copper for 2023, as well as updated capital cost guidance for 2023 and 2024 across the Kamoa-Kakula, Platreef and Kipushi projects.
Forward-looking statements and information involve significant risks and uncertainties, should not be read as guarantees of future performance or results and will not necessarily be accurate indicators of whether or not such results will be achieved. Several factors could cause actual results to differ materially from the results discussed in the forward-looking statements or information, including, but not limited to, the factors discussed below and under “Risk Factors”, and elsewhere in this release, as well as unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of parties to contracts with the company to perform as agreed; social or labour unrest; changes in commodity prices; and the failure of exploration programs or studies to deliver anticipated results or results that would justify and support continued exploration, studies, development or operations.
Although the forward-looking statements contained in this release are based upon what management of the company believes are reasonable assumptions, the company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this release.
The company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of the factors set forth below in the “Risk Factors” section in the company’s 2022 Q3 MD&A and its current annual information form.
沙特阿拉伯利雅得 — 艾芬豪矿业 (TSX: IVN; OTCQX: IVPAF) 执行联席董事长罗伯特·弗里兰德 (Robert Friedland) 与总裁玛娜·克洛特 (Marna Cloete) 今天在沙特阿拉伯利雅得阿卜杜勒阿齐兹国王会议中心举行的 2023 年未来矿产论坛前席公布，公司位于刚果民主共和国 (以下简称"刚果(金)") 的卡莫阿-卡库拉 (Kamoa-Kakula) 铜矿项目于2022年共生产精矿含铜金属333,497 吨，达到2022年生产指导目标 (29万至34万吨) 的上限。卡莫阿-卡库拉2022年的铜产量同比增长215%。
390,000 - 430,000
卡莫阿铜矿II期选厂比原计划提前数月投产，并于2022年4月7日实现商业化生产。随着选厂成功实现产量爬坡，艾芬豪矿业对卡莫阿-卡库拉2022年的铜生产指导目标 (29至34万吨) 进行了上调。
卡莫阿-卡库拉技改工程在 I 期选厂增加扫选-精选设施 (红圈)，现正进行最后阶段的装机工程。
技改方案旨在将 I 期和 II 期选厂的综合设计产能提升至920万吨/年，并将铜产能提升至约45万吨/年。
第四季度从地表矿堆向选厂供矿共12万吨。卡库拉矿山正进行地下基础设施扩建，但由于 I 期和 II 期选厂实际处理量已超过设计产能，因此将定期从地表矿堆向选厂供矿以满足产量最大化。
卡莫阿铜业的选矿工程设计团队正与多个国际知名的选冶研究单位合作，探索研究具有经济效益的新技术从 I 期和 II 期选厂的尾矿中回收铜金属，以图将整体回收率提高至设计指标86%以上。
卡莫阿-卡库拉铜矿项目的2023年综合开发方案更新版 (以下简称“卡莫阿-卡库拉 2023 IDP”)，包括III期和IV期扩建计划以及冶炼厂，预计于2023年1月30日的一周内发布。
卡莫阿-卡库拉 2023 IDP发布后，艾芬豪矿业还将公布2023年的每磅铜金属C1现金成本的指导目标，以及卡莫阿-卡库拉、普拉特瑞夫 (Plafreef) 和基普什 (Kipushi) 三大项目2023年及2024年资本性开支的最新指导目标。
本新闻稿中关于卡莫阿-卡库拉铜矿项目的科学或技术性披露已经由史蒂夫·阿莫斯 (Steve Amos) 审查和批准，他凭借其教育、经验和专业协会会籍被认为是NI 43-101 标准下的合资格人。由于阿莫斯先生是艾芬豪矿业的项目执行副总裁，因此他并不符合NI 43-101 对独立人士的界定。阿莫斯先生已核实本新闻稿所披露的技术数据。
本新闻稿中的其它科学或技术性披露已经由乔治·吉尔克里斯特 (George Gilchrist) 审查和批准，他凭借其教育、经验和专业协会会籍被认为是NI 43-101 条款下的合资格人。吉尔克里斯特先生是艾芬豪矿业资源部副总裁，因此他并不符合NI 43-101 对独立人士的界定。吉尔克里斯特先生已核实本新闻稿所披露的其它技术数据。
艾芬豪已经为卡莫阿-卡库拉铜矿项目编制了一份符合NI 43-101 标准的独立技术报告，这些报告可在艾芬豪网站以及SEDAR 网站上的艾芬豪页面获得，网址为www.sedar.com﹕
- 2020年10月13日发布的2020年卡莫阿-卡库拉综合开发方案，由OreWin Pty Ltd.、中国瑞林工程技术有限公司、DRA Global、Epoch Resources、Golder Associates Africa、KGHM Cuprum R&D Centre Ltd.、Outotec Oyj、Paterson and Cooke、Stantec Consulting International LLC、SRK Consulting Inc.以及Wood plc编制。
同时，艾芬豪矿业正在刚果(金)境内、毗邻卡莫阿-卡库拉铜矿项目的西部前沿 (Western Foreland) 探矿权内寻找新的铜矿资源。西部前沿探矿权占地2,400平方公里，由艾芬豪矿业全资拥有及持有90%权益。
请即关注罗伯特·弗里兰德 (@robert_ivanhoe) 和艾芬豪矿业(@IvanhoeMines_)的Twitter帐号。
温哥华﹕马修·基维尔 (Matthew Keevil)，电话﹕+1.604.558.1034
伦敦﹕托米·霍顿 (Tommy Horton) ，电话﹕+44 7866 913 207
坦尼娅·托德 (Tanya Todd) ，电话﹕+1.604.331.9834
本新闻稿载有的某些陈述可能构成适用证券法所订议的"前瞻性陈述"或"前瞻性信息"。这些陈述及信息涉及已知和未知的风险、不确定性和其他因素，可能导致本公司的实际业绩、表现或成就、其项目或行业的业绩，与前瞻性陈述或信息所表达或暗示的任何未来业绩、表现或成就产生重大差异。这些陈述可通过文中使用"可能"、"将会"、"会"、"将要"、"打算"、"预期"、"相信"、"计划"、"预计"、"估计"、 "安排" 、"预测"、"预言"及其他类似用语，或者声明"可能"、"会"、"将会"、"可能会"或"将要"采取、发生或实现某些行动、事件或结果进行识别。这些陈述仅反映本公司于本新闻稿发布当日对于未来事件、表现和业绩的当前预期。
该等陈述包括但不限于﹕i) 预计卡莫阿-卡库拉铜矿项目2023年生产精矿含铜的指导目标约为39至43万吨铜；ii) 技改方案将于2023年第二季度初完成，年化产能将提升至45万吨铜/年；iii) 卡莫阿-卡库拉2023年综合开发方案将于2023年1月30日的一周内发布，其中包括现金成本及资本性开支的指导目标；iv) 技改方案旨在将 I 期和 II 期选厂的综合设计产能提升至920万吨/年；v) 技改方案最后阶段的设备装机和试车工作将于未来几个月进行；vi) 技改方案已完成90%以上，将有助于I 期和 II 期选厂的铜产量提升至约45万吨/年；vii) 卡莫阿铜业正与刚果(金)国有电力公司SNEL合作，以图尽量减低电力中断对运营造成的影响；viii) 卡莫阿-卡库拉铜矿项目的2023年综合开发方案，包括III期和IV期扩建计划以及冶炼厂，预计于2023年1月30日的一周内发布；ix) 2023年综合开发方案还将包括2023年的每磅铜金属C1现金成本的指导目标，以及卡莫阿-卡库拉、普拉特瑞夫和基普什三大项目2023年及2024年资本性开支的最新指导目标。