Ivanhoe's 2021 production guidance for contained copper in concentrate produced from Kamoa-Kakula was 92,500 to 100,000 tonnes, which was originally projected to be 80,000 to 95,000 tonnes. The annual production guidance was also previously increased in November, reflecting the successful completion of ramp-up of the Kakula Phase 1 concentrator.
Kamoa-Kakula's 2021 copper production to the end of the year, as well as guidance for 2022 copper production, cost of sales and cash costs, including the start of Phase 2 operations, will be provided in
'Kamoa Copper's performance marks an excellent end to what has truly been a banner year for
'The Phase 2 expansion remains significantly ahead of schedule, and we are well on the way to doubling annual copper production to approximately 400,000 tonnes starting early in Q2 2022. So far in December, we have seen feed grades in excess of 6% copper and recoveries have also been exceeding our design recovery of 86%, which bodes well for our ability to efficiently ramp-up future expansions at Kamoa-Kakula. Our management team now envisions the Phase 3 concentrator will enter production by the end of 2024.
'Finally, we would like to extend warmest wishes for a peaceful holiday season and a happy and prosperous New Year to all our employees, partners, stakeholders and shareholders. We look forward to an exciting 2022 as we continue to build
About
Kamoa-Kakula began producing copper concentrates in
Contact:
Tel: +1.604.331.9834
Forward-looking statements
Certain statements in this release constitute 'forward-looking statements' or 'forward-looking information' within the meaning of applicable securities laws. Such statements and information involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company, its projects, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as 'may', 'would', 'could', 'will', 'intend', 'expect', 'believe', 'plan', 'anticipate', 'estimate', 'scheduled', 'forecast', 'predict' and other similar terminology, or state that certain actions, events or results 'may', 'could', 'would', 'might' or 'will' be taken, occur or be achieved. These statements reflect the company's current expectations regarding future events, performance and results and speak only as of the date of this release.
Such statements include without limitation, the timing and results of: (i) statements regarding the expectation that the Phase 2 concentrator is expected to begin operations in Q2 2022; ii) statements regarding Kamoa-Kakula's Phases 1 and 2 combined are forecast to produce approximately 400,000 tonnes of copper per year and (iii) statements regarding the expectation to start up the Phase 3 concentrator in Q4 2024.
As well, all of the results of the Kakula definitive feasibility study, the Kakula-Kansoko pre-feasibility study and the Kamoa-Kakula preliminary economic assessment, constitute forward-looking statements or information, and include future estimates of internal rates of return, net present value, future production, estimates of cash cost, proposed mining plans and methods, mine life estimates, cash flow forecasts, metal recoveries, estimates of capital and operating costs and the size and timing of phased development of the projects. Furthermore, with respect to this specific forward-looking information concerning the development of the
Forward-looking statements and information involve significant risks and uncertainties, should not be read as guarantees of future performance or results and will not necessarily be accurate indicators of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements or information, including, but not limited to, the factors discussed below and under 'Risk Factors', and elsewhere in this release, as well as unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of parties to contracts with the company to perform as agreed; social or labour unrest; changes in commodity prices and the failure of exploration programs or studies to deliver anticipated results or results that would justify and support continued exploration, studies, development or operations.
Although the forward-looking statements contained in this release are based upon what management of the company believes are reasonable assumptions, the company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this release.
The company's actual results could differ materially from those anticipated in these forward-looking statements as a result of the factors set forth below in the 'Risk Factors' section in the company's 2021 Q3 MD&A and its current annual information form.
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