Our portfolio of tier-one assets provides exposure to copper, platinum-group metals, nickel, zinc and other metals essential for the world’s transition to clean energy and a low-carbon economy. Our stakeholders benefit from long-life projects with low costs, low-capital intensity and leading ESG programs.
Kamoa-Kakula is the world’s fastest-growing major copper mine and one of the highest-grade, lowest-carbon-emitting copper operations globally. Located in the Central African Copperbelt, the project commenced commercial production in July 2021 and was significantly expanded with the successful commissioning of the Phase 3 concentrator in August 2024, positioning Kamoa-Kakula as a world-class, long-life copper producer.
Record annual revenue recognized in 2024
Kamoa-Kakula's revenue in 2024
Tonnes of copper produced in 2025
Kamoa-Kakula's 2026 copper production guidance
EBITA generated since 2021 at Kamoa-Kakula
Kamoa-Kakula 2024 cash cost per lb. copper
The Kamoa-Kakula Copper Mine — a joint venture between Ivanhoe Mines (39.6%), Zijin Mining Group (39.6%), Crystal River Global Limited (0.8%) and the Government of the Democratic Republic of Congo (20%) — is a very large, near-surface, flat-lying, stratiform copper deposit with adjacent prospective exploration areas within the Central African Copperbelt, approximately 25 kilometres west of the town of Kolwezi and about 270 kilometres west of the provincial capital of Lubumbashi.
Kamoa-Kakula began producing copper concentrates in May 2021 and began commercial production on July 1, 2021. On June 10, 2024 first concentrate production from the Phase 3 concentrator was achieved, months ahead of schedule and reached commercial production early in Q3, 2024.
The new on-site direct-to-blister copper smelter is the largest and greenest on the African continent and will offer transformative financial benefits for the Kamoa-Kakula Copper Complex, most notably a significant reduction in logistics costs.
Kamoa-Kakula is powered by clean, renewable hydro-generated electricity. Independent consultants Skarn Associates of London, England, estimate that the Kamoa-Kakula Copper Complex has among the lowest greenhouse gas (GHG) emissions intensities per tonne of metal produced globally, and the lowest of any major copper mine.
Africa's largest smelter
The start-up of Kamoa-Kakula’s on-site 500,000-tonne-per-annum direct-to-blister copper smelter commenced on November 21, 2025. The smelter achieved first anode production on December 29, 2025 - just five weeks after heat-up and one week after the first feed of concentrate - marking a major operational milestone and a rapid, well-executed commissioning phase.
2023 Pre Feasibility Study assess an increase in production capacity
Kamoa-Kakula's 2023 PFS evaluates a staged increase in production capacity Kamoa-Kakula from the current nominal throughput rate of 7.6 Mtpa up to a total of 19.2 Mtpa by 2030.
Mine life extension to 42 years
The Kamoa-Kakula 2023 preliminary economic assessment (PEA) projects a nine-year mine life extension of the Kamoa-Kakula Copper Complex, in addition to the Kamoa-Kakula 2023 pre-feasibility study of 33 years. This case includes the addition of four new underground mines in the Kamoa area (called Kamoa 3, 4, 5 and 6) to maintain the overall production rate of up to 19.2 Mtpa.
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