Ivanhoe Mines reported yesterday that its phase 3 expansion should hit 600,000 tonnes per year by the fourth quarter of 2024.
The company detailed its expansion plans at Goldman Sachs Copper Day. Once the company hits phase 3, Kakula-Kamoa will be the largest copper mine in Africa and the third-largest globally after Escondida and Grasberg, according to a note by BMO Metals.
“Kamoa-Kakula’s Phase 3 will consist of two new underground mines known as Kamoa 1 and Kamoa 2, as well as the initial decline development at Kakula West. A new, 5 million-tonne-per-annum concentrator plant will be established adjacent to the two new mines at Kamoa,” wrote Ivanhoe in a news release.
“Upon commencement of Phase 3 production, Kamoa Copper will have a total processing capacity of greater than 14 million tonnes per annum. The existing Phase 1 and 2 concentrators will be de-bottlenecked and operating at a combined throughput of 9.2 million tonnes of ore per year by the second quarter of 2023, which is expected to increase Kamoa-Kakula’s annual copper production to more than 450,000 tonnes. The associated power and surface infrastructure are being designed to support Phase 3, as well as future expansions.”
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