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Kamoa-Kakula sets new production record, mines 339,000 tonnes of ore grading 5.50% copper in February

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(Kitco News) - Ivanhoe Mines (TSX: IVN) announced Monday that underground ore production at the Kamoa-Kakula copper project in the Democratic Republic of Congo (DRC) has for the first time exceeded the steady-state requirements of the Phase 1, 3.8-million-tonne-per-annum (Mtpa) concentrator plant.

According to the company’s statement, in February, the project mined and stockpiled 339,000 tonnes of ore grading 5.50% copper from the Kakula and Kansoko mines. The tonnage was 13% higher than January, while the copper grade continued to trend higher.

The project's pre-production surface stockpiles now contain approximately 2.16 million tonnes of high-grade and medium-grade ore at an estimated blended average of 4.44% copper. Contained copper in the stockpiles increased by approximately 19,000 tonnes in February - a 19.2% increase over January's production - to a cumulative total of more than 95,000 tonnes (the current copper price is approximately US$9,100 a tonne).

The company said that Kamoa-Kakula is on track to have more than three million tonnes of high-grade and medium-grade ore stockpiled on surface, holding more than 125,000 tonnes of contained copper, prior to the planned start of processing in July 2021. Kamoa-Kakula is positioned to become one of the world's largest copper producers.

Ivanhoe Mines is a Canadian mining company focused on advancing its three principal joint-venture projects in Southern Africa: the development of major new, mechanized, underground mines at the Kamoa-Kakula copper discoveries in the DRC and at the Platreef palladium-platinum-nickel-copper-rhodium-gold discovery in South Africa; and the extensive redevelopment and upgrading of the historic Kipushi zinc-copper-germanium-silver mine, also in the DRC.

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