Ivanhoe Mines

company

Ivanhoe Mines

Type: Company | Ticker: IVN.TO (TSX) | Sub-theme: Copper (Kamoa-Kakula)

Ivanhoe Mines is developing Kamoa-Kakula in the Democratic Republic of Congo (DRC) — the world's highest-grade major copper discovery and the most significant new copper mine development globally. Founder Robert Friedland is one of mining's most decorated prospectors (also discovered Voisey's Bay nickel and led the Oyu Tolgoi gold/copper development in Mongolia).

Kamoa-Kakula — Key Facts (as of Apr 2026)

  • Location: DRC, Lualaba Province
  • Resource: 1.272 billion tonnes grading 2.65% copper (indicated) — world's largest undeveloped high-grade copper deposit
  • Reserve: 466 million tonnes grading 2.82% copper (updated mineral reserve, Mar 2026 technical report)
  • Phases: Phase 1+2+3 concentrators targeting 17 million tonnes/yr combined throughput
  • 2026 production guidance: 290,000-330,000 tonnes copper anode
  • 2027 production guidance: 380,000-420,000 tonnes copper anode
  • Long-term target: 500,000+ tonnes/yr from 2028
  • Ownership: Ivanhoe ~39.6%, Zijin Mining ~39.6%, DRC government ~20%
  • Recovery plan: Following March 2026 technical report; ramp-up on track

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