Ivanhoe Mines announced that hot commissioning and ramp-up of Kamoa-Kakula's Phase 1, 3.8 million-tonne-per-annum (Mtpa) concentrator plant is progressing well and approaching nameplate steady-state-design performance. During August, the plant achieved an average milling rate of more than 9,000 tonnes per day at an average feed grade of more than 6.0% copper. On August 29, the Phase 1 concentrator plant produced in excess of 600 tonnes of copper in filtered concentrate, which is the plant's steady-state-design daily production rate. During August, the concentrator plant produced concentrate containing 14,815 tonnes of copper. As of August 31, a total of 36,712 tonnes of copper had been produced year-to-date for delivery to either the Lualaba Copper Smelter near Kolwezi, or to international markets. All concentrate produced to date has been loaded onto trucks and the concentrate backlog at the mine site has been cleared. Copper recoveries improved to an average of 83% during August, with recoveries in excess of 86% achieved on multiple occasions. The Phase 1, steady-state-design copper recovery is approximately 86%. Ivanhoe's production guidance for contained copper in concentrate at Kamoa-Kakula in 2021 is 80,000 to 95,000 tonnes. The figures are on a 100%-project basis and metal reported in concentrate is prior to refining losses or deductions associated with smelter terms. The guidance assumes ramp-up from first production continues in line with published technical disclosures. Daily concentrate grades in excess of the steady-state-design grade of approximately 57% copper also have been achieved on several occasions, with the monthly average exceeding 48% copper. The current focus of the commissioning team is on balancing and optimizing the flotation and regrind milling areas. This work is expected to further improve the consistency of concentrate grade and copper recoveries. Commissioning and operation of the concentrator plant's regrind mills is well underway. The regrind mills are the final pieces of equipment to be commissioned in the Phase 1 concentrator. Kamoa-Kakula is fast tracking the installation of an additional concentrate filter, which already has been delivered to the mine site, to be able to take advantage of copper feed grades and milling rates in excess of design parameters. The additional concentrate filter is expected to be installed by the end of October 2021, enabling the Phase 1 concentrator to produce more copper than its design capacity of approximately 200,000 tonnes per year. Phase 2 overall project 44% complete, with civil works effectively complete and structural steel, mechanical, piping and platework (SMPP) erection and installation well underway Construction of the second 3.8-Mtpa concentrator plant (Phase 2) is progressing well, with the overall project 44% complete; engineering and procurement activities are nearing completion. Civil construction works also is nearing completion with the focus now on erection of structural steel and the installation of platework and equipment. The primary and secondary ball mill discharge sumps, as well as the mill base plates, are being installed; mill installation is on the critical path. SMPP construction is on-going in all areas. Deliveries of structural steel, platework and mechanical equipment continue daily with more than 321 truckloads already delivered to site and another 126 en-route. Manufacturing of all long-lead items of equipment now is complete with several items already delivered to site and the remainder en-route. The final major contract for electrical, control and instrumentation (EC&I) supply and installation, has been awarded. The Phase 2 concentrator remains on track for completion in Third Quarter 2022. Kakula is projected to be the world's highest-grade major copper mine, with an initial mining rate of 3.8 Mtpa at an estimated, average feed grade of more than 6.0% copper over the first five years of operations, and 5.9% copper over the initial 10 years of operations. Phase 1 is expected to produce approximately 200,000 tonnes of copper per year, while the Phase 2 expansion is forecast to increase production to approximately 400,000 tonnes of copper annually. The project is on track to complete the Phase 2 expansion in Third Quarter 2022. Based on independent benchmarking, the project's phased expansion scenario to 19 Mtpa would position Kamoa-Kakula as the world's second-largest copper mining complex, with peak annual copper production of more than 800,000 tonnes. The Kamoa-Kakula Copper Project is a joint venture between Ivanhoe Mines (39.6%), Zijin Mining Group (39.6%), Crystal River Global Limited (0.8%) and the Government of the Democratic Republic of Congo (20%). A 2020 independent audit of Kamoa-Kakula's greenhouse gas intensity metrics performed by Hatch Ltd. of Mississauga, Canada, confirmed that the project will be among the world's lowest greenhouse gas emitters per unit of copper produced. Study work for the Phase 3 mine and concentrator expansion is underway, which includes optimization work to determine mining production capacity and costs at the various mining areas on the Kamoa-Kakula complex, including expanded facilities at the Kansoko Mine, Kamoa North (including the Bonanza Zone) and Kakula West. This work also will inform the optimal sizing of the Phase 3 concentrator, which was outlined as a further expansion of 3.8 Mtpa in the Kamoa-Kakula Integrated Development Plan announced in September 2020. In addition, the studies will take into consideration the plans to upgrade turbine 5 at the Inga II hydropower complex to provide 162 megawatts of renewable hydropower, as well as the construction of a direct-to-blister smelter. Once the optimization work is completed, Kamoa Copper will advance into a more detailed phase of design and engineering work with its objective to accelerate the Phase 3 concentrator expansion. All six new turbines at the Mwadingusha hydropower plant now have been synchronized to the national electrical grid, with each generating unit producing approximately 13 megawatts (MW) of power, for a combined output of approximately 78 MW. Mwadingusha powerhouse with all six generating units fully assembled and generating 78 MW of clean, sustainable electricity.