Ivanhoe Mines announced the company’s financial results for the first quarter of 2026, as well as an operations and project development update.
Ivanhoe Mines is a leading Canadian mining company with three principal tier-one mining operations in Southern Africa: the Kamoa-Kakula Copper Complex in the Democratic Republic of the Congo (DRC); the ultra-high-grade Kipushi zinc-copper-lead-germanium mine, also in the DRC; and the Platreef platinum, palladium, nickel, rhodium, gold, and copper mine in South Africa.
In addition, Ivanhoe Mines is expanding the Makoko District copper discovery in the Western Forelands, in the DRC, as well as exploring for new sedimentary-hosted copper discoveries across its vast and highly prospective exploration licence packages in the DRC, Angola, Zambia, and Kazakhstan.
Founder and Co-Chairman Robert Friedland commented:
“Ivanhoe has a portfolio of tier-one mines powered by hydroelectric and solar power, built to withstand disruption. Our company is ideally positioned in this volatile environment, with exploding global demand for the copper, zinc, nickel and precious metals that we produce.
“Our Kamoa-Kakula Copper Complex and smelter are ramping up in a very strong price environment for the two most critical elements on our planet: copper, which is the King of Metals, and sulphuric acid (H2SO4), which is the King of Chemicals. Kamoa-Kakula benefits from a powerful natural hedge: our sulphuric acid production. H2SO4, which is a by-product of our copper smelter, is growing into a one-million-dollar-a-day operating credit, massively offsetting rising diesel prices. This advantage is supported by our high-grade ore, which has the lowest hydrocarbon intensity per tonne of produced copper of any major mine in the world.
“At the same time, our team are executing a disciplined turnaround at Kamoa-Kakula. The plan is clear, the execution is underway, and the strong tailwinds in copper prices adds to the momentum. We will fully capitalize on our strategic advantages.
“Ivanhoe leads the copper world in our exploration programs. We have extremely strong momentum in the discovery process for major copper systems. The Makoko District copper discovery in the Western Forelands is an emerging giant in the making, and its significance is growing around the clock. Soon, we will reveal our development plans for the Western Forelands.”