Summary:Ivanhoe Mines has reported a notable operational rebound at its flagship Kamoa-Kakula copper complex in the DRC, with third-quarter 2026 saleable copper output reaching 76,401 tonnes. The figure represents a 19% quarter-on-quarter increase, marking a solid recovery and bringing production metrics ba...
Ivanhoe Mines has reported a notable operational rebound at its flagship Kamoa-Kakula copper complex in the DRC, with third-quarter 2026 saleable copper output reaching 76,401 tonnes. The figure represents a 19% quarter-on-quarter increase, marking a solid recovery and bringing production metrics back in line with typical 2025 operational levels.
For Q3 2026, contained copper in concentrate totalled 68,188 tonnes. While this reading is roughly 4% lower year-over-year compared with Q3 2025 output of 71,266 tonnes, it reflects an 11.5% improvement from the subdued second-quarter performance of 2026. The sequential recovery is driven by accelerated underground mining activities, with monthly mining throughput rising 30% to over 700,000 tonnes, equating to an annualised run rate of 8.5 million tonnes. Operational enhancements including expanded mining crews, a new box-cut access portal at the Kamoa 1 mine and the commencement of large-scale stoping activities have collectively lifted underground productivity.
The quarterly turnaround follows a major market guidance revision issued in April 2026, when Ivanhoe Mines downgraded its 2026 and 2027 copper production outlook by approximately 23%. The adjustment stemmed from a strategic operational shift, prioritising underground infrastructure rehabilitation, mine development and access upgrades over short-term output to stabilise long-term geotechnical safety and operational reliability. Despite the Q3 recovery, the firm maintains its full-year 2026 saleable copper production guidance of 290,000–310,000 tonnes, with current output trending toward the lower end of the revised range. Approximately 43,000 tonnes of copper inventory was held on-site at the end of Q3.
Kamoa-Kakula’s integrated smelter continues steady ramp-up, currently operating at 60% of its 500,000-tonne annual copper capacity. Beyond copper output, the smelter generated 118,638 tonnes of high-strength sulphuric acid during the third quarter. The by-product, priced at around $900 per tonne, is commercially supplied to regional DRC Copperbelt operators for oxide copper and cobalt leaching processes, creating diversified revenue streams for the complex.
Supporting broader operational growth, Ivanhoe’s Kipushi zinc mine delivered a 10% quarter-on-quarter production rise, achieving 77,147 tonnes of zinc in concentrate during Q3.
The project has also made significant progress in sustainable energy adoption. Kamoa-Kakula’s continent-leading hybrid solar and battery storage system reduced on-site diesel consumption by 40% in September 2026. Delivering stable 24-hour power output of 60MW, the mining complex’s solar installation is set for capacity doubling within the next 18 months to further decarbonise operations.
Looking ahead, Ivanhoe Mines is scheduled to release its official Q3 2026 financial results on November 3, which will provide full visibility into the financial impacts of production recovery, smelter optimisation and renewable energy integration. The company’s share price dipped 4.4% to C$11.09 in Thursday midday trading, reflecting lingering market caution despite clear operational recovery momentum.
