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    TRQ   CA9004352071

TURQUOISE HILL RESOURCES LTD.

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Turquoise Hill Resources : Ivanhoe Mines - Kamoa-Kakula monthly progress update expected on June 2

06/02/2021 | 08:45am EDT

KOLWEZI - Ivanhoe Mines (TSX: IVN; OTCQX: IVPAF) announced today that the May progress update for the Kamoa-Kakula Copper Project in the Democratic Republic of Congo (DRC) is expected to be issued on June 2, 2021.

The Kamoa-Kakula Phase 1 concentrator plant produced its first copper concentrate on May 25th and the plant is in the process of hot commissioning and ramp up.

About Ivanhoe Mines

Ivanhoe Mines is a Canadian mining company focused on advancing its three principal joint-venture projects in Southern Africa: the development of major new, mechanized, underground mines at the Kamoa-Kakula copper discoveries in the Democratic Republic of Congo and at the Platreef palladium-rhodium-platinum-nickel-copper-gold discovery in South Africa and the extensive redevelopment and upgrading of the historic Kipushi zinc-copper-germanium-silver mine, also in the Democratic Republic of Congo .

Kamoa-Kakula began producing copper concentrates in May 2021 and, through phased expansions, is positioned to become one of the world's largest copper producers. Kamoa-Kakula and Kipushi will be powered by clean, renewable hydro-generated electricity and will be among the world's lowest greenhouse gas emitters per unit of metal produced. Ivanhoe Mines has pledged to achieve net-zero operational greenhouse gas emissions (Scope 1 and 2) at the Kamoa-Kakula Copper Mine when large-scale electric, hydrogen and hybrid underground mining equipment become commercially available. Ivanhoe also is exploring for new copper discoveries on its wholly-owned Western Foreland exploration licences in the Democratic Republic of Congo, near the Kamoa-Kakula Project.

Contact:

Bill Trenaman

Tel: +1.604.331.9834

(C) 2021 Electronic News Publishing, source ENP Newswire

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Financials (USD)
Sales 2021 1 821 M - -
Net income 2021 518 M - -
Net Debt 2021 3 437 M - -
P/E ratio 2021 6,44x
Yield 2021 -
Capitalization 3 357 M 3 337 M -
EV / Sales 2021 3,73x
EV / Sales 2022 4,96x
Nbr of Employees 3 093
Free-Float 49,2%
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Number of Analysts 8
Last Close Price 16,68 $
Average target price 18,76 $
Spread / Average Target 12,4%
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Steeve Thibeault Chief Executive Officer & Director
Luke Colton Chief Financial Officer
Robert Peter Charles Gillin Chairman
Jo-Anne Dudley Chief Operating Officer
Russel C. Robertson Independent Director
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