Operations at Phase 1 and 2 concentrators continue at reduced capacity from surface stockpiles
Operations at Kamoa mine and Phase 3 concentrator continue uninterrupted
Kolwezi, Democratic Republic of The Congo--(Newsfile Corp. - May 20, 2025) - Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) reports today that mining operations are temporarily suspended at the Kakula underground mine at the Kamoa-Kakula Copper Complex, in the Democratic Republic of the Congo.
Over the past week, seismic activity was experienced in the eastern section of the Kakula mine, leading to Kamoa Copper's management team suspending underground operations on Sunday, May 18, 2025. All employees were safely brought above ground in line with protocols, and mobile equipment was removed from the mine workings. No injuries were reported.
Senior management and geotechnical specialists have been mobilized to conduct a thorough inspection of the Kakula underground mine, which commenced today. Seismic activity is reported to have significantly reduced in the past 24 hours and the western section of the Kakula mine has been declared safe for mining operations to resume imminently.
The inspection will continue into the eastern section of the Kakula mine, where underground infrastructure, including pumping, may be impacted.
The Phase 1 and 2 concentrators are temporarily operating at a reduced capacity, processing ore from surface stockpiles. Ore from the western section of the Kakula mine will also be processed as soon as underground operations resume. As at April 30, 2025, Kamoa-Kakula's high- and medium-grade ore surface stockpiles totaled approximately 3.80 million tonnes at an estimated, blended average grade of 3.2% copper.
Mining activities at the Kamoa underground mine and processing at the adjacent Phase 3 concentrator have not been impacted.
Ivanhoe Mines will provide further updates in due course.
About Ivanhoe Mines
Ivanhoe Mines is a Canadian mining company focused on advancing its three principal projects in Southern Africa; the expansion of the Kamoa-Kakula Copper Complex in the DRC, the ramp-up of the ultra-high-grade Kipushi zinc-copper-germanium-silver mine, also in the DRC; and the phased development of the tier-one Platreef platinum-palladium-nickel-rhodium-gold-copper Mine in South Africa.
Ivanhoe Mines is exploring for copper in its highly prospective, 54-100% owned exploration licences in the Western Forelands, covering an area over six times larger than the adjacent Kamoa-Kakula Copper Complex, including the high-grade discoveries in the Makoko District. Ivanhoe is also exploring for new sedimentary copper discoveries in new horizons including Angola, Kazakhstan and Zambia.
Certain statements in this news release constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws. Such statements and information involve known and unknown risks, uncertainties, and other factors that may cause the actual results, performance, or achievements of the company, its projects, or industry results to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified using words such as "may", "would", "could", "will", "intend", "expect", "believe", "plan", "anticipate", "estimate", "scheduled", "forecast", "predict" and other similar terminology, or state that certain actions, events, or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. These statements reflect the company's current expectations regarding future events, performance, and results and speak only as of the date of this news release.
Such statements include, without limitation: i) statements regarding Kakula mine has been declared safe for mining operations to resume imminently; ii) statements regarding the inspection will continue into the eastern section of the Kakula mine, where underground infrastructure, including pumping, may be impacted; iii) statements regarding ore from the western section of the Kakula mine will also be processed as soon as underground operations resume; and, iv) Ivanhoe Mines will provide further updates in due course.
Forward-looking statements and information involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indicators of whether such results will be achieved. Many factors could cause actual results to differ materially from the results discussed in the forward-looking statements or information, including, but not limited to, the factors discussed above and under the "Risk Factors" section in the company's MD&A for the three months ended March 31, 2025, and its current annual information form, and elsewhere in this news release, as well as unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of parties to contracts with the company to perform as agreed; social or labour unrest; changes in commodity prices; and the failure of exploration programs or studies to deliver anticipated results or results that would justify and support continued exploration, studies, development or operations.
Although the forward-looking statements contained in this news release are based upon what management of the company believes are reasonable assumptions, the company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release.
The company's actual results could differ materially from those anticipated in these forward-looking statements as a result of the factors outlined in the "Risk Factors" section in the company's MD&A for the three months ended March 31, 2025, and its current annual information form.
