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KOLWEZI, DEMOCRATIC REPUBLIC OF CONGO – Ivanhoe Mines’ (TSX: IVN; OTCQX: IVPAF) Co-Chairmen Robert Friedland and Yufeng “Miles” Sun announced on 19th October，Excellent construction progress being made on Kakula’s concentrator plant; first production now expected in July 2021. Rochelle De Villiers, Kamoa Copper’s Co-CFO. Indicated “We look forward to generating revenue as early as possible, which will allow us to advance the project’s Phase 2 development with internal cash flow. The long-lead items for the second 3.8 Mtpa concentrator plant have been ordered and the second phase of our development now is officially underway.” Mark Farren, CEO of Kamoa Copper said: “We will leverage what we have learned thus far into Phase 2 construction, and expand the project at a sustainable rate that minimizes peak funding. Phases 1 and 2 combined are expected to produce approximately 400,000 tonnes of copper per year.” “Our engineers are already planning the steps necessary to implement phases 3, 4 and 5, which would expand the project’s production rate to at least 19 million tonnes of ore a year.”

 

Regarding to the underground development, excellent progress is being made advancing underground mine development at the Kakula Mine in the Democratic Republic of Congo (DRC), with current mining grades of up to 11% copper in one of the access drives being advanced from the northern decline. Kakula’s northern and southern dual access drives are expected to be connected (the mining term is “holing”) next month, allowing highly-productive mining (stoping) operations to begin in high-grade zones.