The ramp-up of the Part 3 concentrator to steady-state manufacturing is progressing nicely, with roughly 350,000 tonnes of ore milled in August, the corporate stated in a press launch. This equates to an annualized throughput of 4.2 million tonnes per 12 months.
By the tip of the month, the common every day milling price was approaching the nameplate annualized processing price of 5 million tonnes, with the potential to exceed this capability, Ivanhoe stated.
Yr-to-date, the mixed manufacturing from the Kamoa-Kakula operation is roughly 263,000 tonnes of copper, with 14,000 tonnes produced by the Part 3 concentrator.
The corporate additionally stated it’s on observe to realize its 2024 manufacturing steerage for Kamoa-Kakula of between 440,000 and 490,000 tonnes of copper.
Shares of Ivanhoe Mines rose 1% by 12:10 p.m. EDT. The miner has a market capitalization of C$22.2 billion ($16.4 billion).