Kamoa-Kakula Begins Exporting Copper Concentrate Internationally As Production Ramps Up

KOLWEZI, DRC - Ivanhoe Mines reported that Kamoa Copper SA - the operating company of the joint venture between Ivanhoe Mines, Zijin Mining Group, Crystal River and the Government of the Democratic Republic of Congo (DRC) - has begun exporting its copper concentrate internationally. The first truckloads of copper concentrate destined for smelters outside of the DRC departed from the mine site on Saturday, July 17th, marking a significant milestone in the ongoing ramp-up of Kamoa-Kakula's Phase 1, 3.8 million-tonne-per-annum (Mtpa) concentrator plant.

Kamoa-Kakula's copper concentrate for export is being transported in bags, with each bag containing approximately two tonnes of concentrate. The bags are independently weighed, sampled and sealed in the presence of representatives from the DRC's Directorate General of Customs and Excise (DGDA), then loaded onto transport trucks. Once loaded, the trucks are weighed, sealed and parked in a dedicated holding area at Kamoa-Kakula awaiting inspection and export clearance from the DGDA. The customs approval process typically takes approximately five days. Once export clearance is received, the trucks may exit the DRC and proceed on their journey to the port of Durban, South Africa.

Kamoa Copper began producing copper concentrate on May 25, 2021, and made its first delivery of bulk concentrates to the nearby Lualaba Copper Smelter, outside of Kolwezi, on June 1, 2021. Since then, deliveries of bulk concentrate from Kamoa-Kakula to the Lualaba Copper Smelter have been occurring on a daily basis. The first truckloads of Kamoa-Kakula's blister copper ingots, containing approximately 99% copper, are scheduled to be exported from the Lualaba Copper Smelter to international markets.

Kamoa Copper received all necessary authorizations from the DRC government to export copper concentrate and blister copper in June. The mine is on track to produce between 80,000 and 95,000 tonnes of contained copper in concentrate in 2021.