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The Kipushi zinc-copper-germanium-silver-lead mine in the Democratic Republic of Congo is the world’s highest-grade zinc mine. The 800,000-tonne-per-annum concentrator was completed in May 2024, with first concentrate produced in June 2024. The state-of-the-art plant incorporates dense media separation, milling, and flotation, targeting industry-leading recoveries of 96% and an average concentrate grade of 55% contained zinc. Kipushi is expected to produce more than 278,000 tonnes of zinc in concentrate over its first five years, with 2026 production guidance of 240,000 to 290,000 tonnes.
Average grade over the first five years of production
Capacity per-annum of the new zinc concentrator
Kipushi's 2025 zinc production
Measured and Indicated Mineral Zinc Resources
Kipushi’s 2026 zinc production guidance
Ivanhoe acquired its 68% interest in the Kipushi Project in November 2011, through Kipushi Holding which is 100%-owned by Ivanhoe Mines. The balance of 32% in the Kipushi Project is held by the DRC state-owned mining company, Gécamines, whose ownership will increase to 38% upon completion of the conditions precedent to the updated joint venture agreement signed in late 2023.
The Kipushi mine is adjacent to the town of Kipushi in the DRC approximately 30 kilometres southwest of the provincial capital of Lubumbashi. It is a high-grade, underground zinc-copper project in the Central African Copperbelt which mined approximately 60 million tonnes grading 11% zinc and 7% copper between 1924 and 1993. In addition to producing copper and zinc, the mine produced 12,673 tonnes of lead and approximately 278 tonnes of germanium between 1956 and 1978. The mine had been managed on a care and maintenance basis since 1993. In late 2022, Ivanhoe and its partner Gécamines finalized an agreement to return Kipushi to production.
In 2025, Kipushi significantly increased output, delivering 203,168 tonnes of zinc, with plans to further raise production toward 240,000 – 290,000 tonnes in 2026 following concentrator optimization that expanded throughput capacity by 20 %.
Underground development is advancing steadily to access multiple production levels within the high-grade Big Zinc and Southern Zinc zones, supported by decline and lateral tunnelling to expand mining flexibility and resource access.
Ongoing exploration drilling continues to deliver exceptionally high-grade intersections, enhancing understanding of the deposit’s structural geology and identifying extension targets for zinc, copper, silver and germanium mineralization below and beyond historically mined zones. These results support long-term resource growth and operational resilience
The current plan leverages a measured and indicated mineral resource base of approximately 11.8 million tonnes of zinc-rich ore grading over 35 % zinc, focusing first on the richest zones identified in the 2022 feasibility study.
Kipushi ranks among the world’s largest zinc mines and will be a core supplier in the global base-metals market. Kipushi is recognized as one of the lowest carbon-intensity zinc operations globally on a Scope 1 and 2 emissions basis, in part to its integration with renewable hydropower and optimized processing circuits. Independent assessments estimate a greenhouse gas footprint significantly below industry averages for zinc production.
Shaft 5
Shaft 5 is planned to be the main production shaft once operations commence, with a maximum hoisting capacity of up to 1.8 Mtpa. The bottom of Shaft 5 provides primary access to the lower levels of the mine, including the Big Zinc orebody, along the 1,150-metre haulage level.
De-bottlenecking program
The debottlenecking program has been successfully completed ahead of schedule and under budget. The program increased concentrator throughput capacity by 20%, from 800,000 to 960,000 tonnes of ore per annum, and has already delivered materially higher zinc production, with multiple new production records achieved following commissioning.
Lowest greenhouse gas emitter
Kipushi will be the lowest greenhouse gas (GHG) emitter per tonne of zinc produced. On a Scope 1 and 2 basis (reported from ore to mine gate), Kipushi’s GHG emissions intensity for 2025 is expected to be 0.019 equivalent tonnes of carbon dioxide per tonne of contained zinc produced (t CO2-e / t Zn). This ranks Kipushi near the bottom of the Scope 1 and 2 GHG emissions curve.
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