Ivanhoes Mines’ 39.6%-owned Kamoa-Kakula Copper Complex in the Democratic Republic of the Congo produced 93 603 tonnes of copper in concentrate in the first quarter of 2023 compared to 92,761 tonnes of copper in the fourth quarter of 2022.
It said the Phase 1 and 2 concentrators are now regularly operating at a processing rate of 9.2 million tonnes per year following the completion of a debottlenecking programme.
The $50 million debottlenecking programme was completed on time and budget late in February, increasing copper in concentrate production capacity to 450 000 t/y.
The quarter under consideration included a monthly production record of 34 915 t of copper in March, which was supported by a weekly production record of 9 016 t of copper and a daily production record of 1 563 t of copper.
Kamoa-Kakula also recorded record average copper recoveries of more than 88% in March.
Ivanhoe's production guidance for Kamoa-Kakula in 2023 remains between 390 000 and 430 000 t of copper in concentrate.
It said with the Phase 3 expansion set to begin in 2024, Kamoa-Kakula represents a rare, high-margin growth story in the copper industry.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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