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Kamoa-Kakula Copper Mine Becomes the World's Third-Largest Copper Mine

June 17, 2024

Latest company news about Kamoa-Kakula Copper Mine Becomes the World's Third-Largest Copper Mine

Kamoa-Kakula Copper Mine Becomes the World's Third-Largest Copper Mine

 

Ivanhoe Mines announced on Tuesday that its Phase 3 concentrator at the Kamoa-Kakula copper mine in the Democratic Republic of Congo has achieved its first production of concentrate.

 

Ivanhoe Mines, a Canadian mining company, is advancing three major projects in Southern Africa. The Kamoa-Kakula Copper Mine project is co-owned by Zijin Mining and Ivanhoe Mines, with both being the largest shareholders. Zijin Mining is also the second-largest shareholder of Ivanhoe Mines, holding approximately 13.7% of its shares, and has a beneficial ownership of around 45% in Kamoa Copper, making it the largest beneficial shareholder.

 

The Phase 3 concentrator was completed roughly six months ahead of schedule. Once fully operational, it is expected to increase Kamoa-Kakula's annual copper production to over 600,000 tonnes.

 

The Phase 3 concentrator has a designed annual capacity of 5 million tonnes, which is 30% higher than the combined capacity of the Phase 1 and Phase 2 concentrators located 10 kilometers away.

 

In May, the Phase 1 and Phase 2 concentrators produced 35,474 tonnes of copper, marking the best performance in the past 12 months.

 

With the completion of the Phase 3 concentrator, Kamoa-Kakula has become the world's third-largest copper mine, following Chile's Escondida and Indonesia's Grasberg, and is now the largest copper mine in Africa.latest company news about Kamoa-Kakula Copper Mine Becomes the World's Third-Largest Copper Mine  0

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