Ivanhoe Mines Ltd
TSX:IVN

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Ivanhoe Mines Ltd
TSX:IVN
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Price: 13.57 CAD -2.93% Market Closed
Market Cap: 19.3B CAD

Ivanhoe Mines Ltd
Investor Relations

Ivanhoe Mines Ltd., a dynamic player in the global mining landscape, is predominantly known for its strategic focus on developing and exploring mineral properties in Africa. The company's flagship asset, the Kamoa-Kakula Project in the Democratic Republic of Congo (DRC), has swiftly garnered attention as one of the most significant copper discoveries in recent decades. This massive project is co-owned with the Congolese government and Chinese mining company Zijin Mining Group, creating a formidable alliance that promises not only substantial copper output but also a sustainable development model. The mine's proximity to critical infrastructure, such as hydroelectric power facilities, underscores its operational efficiency and potential for environmentally conscious mining practices.

In addition to its copper interests, Ivanhoe Mines also holds substantial stakes in two other major mining ventures: the Platreef Project in South Africa, focusing on platinum-group metals, and the Kipushi Project in the DRC, renowned for its exceptional zinc deposits. Ivanhoe’s diversified portfolio strategically positions the company to benefit from various metals, each serving essential roles in the global economy—from electronics to automotive manufacturing. The company's revenue model hinges on producing and selling these valuable resources on the global market, complemented by strategic partnerships that enhance capital and operational capacity. By steadily advancing these high-quality resource projects, Ivanhoe Mines not only crafts a tale of growth and resilience but also contributes significantly to regional economic development where its operations are based.

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Last Earnings Call
Fiscal Period
Q3 2025
Call Date
Oct 30, 2025
AI Summary
Q3 2025

Q3 Results: Ivanhoe Mines reported Kamoa-Kakula revenue of $566 million and adjusted EBITDA of $87 million, both down due to lower copper sales and grades, but still within expectations.

Turnaround Progress: Management confirmed that Q3 marked the low point for Kamoa-Kakula, with mine dewatering and rehabilitation proceeding well and higher grades expected to resume soon.

Platreef Milestone: First ore was fed to the Platreef concentrator, with first concentrate expected within a week, marking a major step forward for the project.

Kipushi Ramp-Up: Kipushi hit record zinc production and revenue, and the debottlenecking program was completed ahead of schedule, setting up for even stronger Q4 results.

QIA Investment: Qatar Investment Authority completed a $500 million equity investment, bolstering Ivanhoe’s cash position to over $1 billion.

Smelter Nearing Start: The Kamoa-Kakula smelter will be heated up in November and start producing copper anode in December, expected to reduce cash costs and logistics expenses.

Guidance & Outlook: 2025 CapEx guidance for Kamoa-Kakula was lowered and shifted to 2026; updated life-of-mine plans and new production guidance for 2026–2027 will be published by early January.

Key Financials
Revenue (Kamoa-Kakula)
$566 million
Copper Sold (Kamoa-Kakula)
62,000 tonnes
Contained Copper Inventory
59,000 tonnes
Copper Price (realized)
$4.42 per pound
EBITDA (Kamoa-Kakula)
$196 million
EBITDA (Ivanhoe adjusted)
$87 million
Profit (Ivanhoe Mines)
$31 million
Cash Cost (Kamoa-Kakula, Q3)
$2.62 per pound
Cash Cost Year-to-date (Kamoa-Kakula)
$1.97 per pound
Grade Mined (Kakula, Q3)
2.5%
EBITDA (Kipushi)
$27 million
Revenue (Kipushi)
$129 million
Zinc Sold (Kipushi)
50,000 tonnes
Cash and Cash Equivalents (Ivanhoe)
$1 billion
Cash on Hand (Kamoa)
$125 million
Private Placement Proceeds (QIA)
$500 million
Debt Facility (Kamoa Copper)
$500 million (drawn down $370 million)
Project Finance Facility (Platreef Phase 2)
$700 million
Earnings Call Recording
Other Earnings Calls

Management

Mr. Robert Martin Friedland
Founder & Executive Co-Chairman
No Bio Available
Ms. Martie Cloete
President
No Bio Available
Mr. David Harry Van Heerden
Chief Financial Officer
No Bio Available
Mr. Olivier Binyingo
Executive Vice President of DRC
No Bio Available
Ms. Mary A. Vincelli
VP of Compliance & Corporate Secretary
No Bio Available
Mr. Alex Pickard
Executive Vice President of Corporate Development & Investor Relations
No Bio Available
Dr. Setha Patricia Makhesha
Executive Vice President of Sustainability & Special Projects
No Bio Available
Mr. Steve Amos
Executive Vice President of Projects
No Bio Available

Contacts

Address
BRITISH COLUMBIA
Vancouver
Suite 606 - 999 Canada Place
Contacts
+16043319882.0
www.ivanhoemines.com