- Ivanhoe Mines announced today that the Kamoa-Kakula copper complex in the Democratic Republic of Congo produced a record 103,947 tonnes of copper in concentrate in Q3 2023.
The company said that Kamoa-Kakula’s cash costs per pound of payable copper produced during the quarter totaled $1.46/lb, compared to $1.41/lb and $1.43/lb in Q2 2023 and Q3 2022, respectively, adding that Kamoa-Kakula's full-year cash cost guidance is unchanged at $1.40 - $1.50 per pound. The company noted it recorded a profit of $108 million for Q3 2023 , driven by income from the Kamoa-Kakula joint venture of $121 million .
The company noted that upon commencement of Phase 3 production, the Kamoa-Kakula copper complex will have a processing capacity of 14.2 million tonnes per annum. As a result, the copper production capacity will increase to approximately 650,000 tonnes per annum.
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