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Ivanhoe Mines is actively involved in the Kamoa-Kakula copper and Kipushi zinc mines, both located in the Democratic Republic of Congo (DRC). In 2024, the Canadian company invested $1.8 billion to restart the Kipushi mine and expand the Kamoa-Kakula mine.
Ivanhoe Mines announced a bond issue aimed at raising $600 million on January 10, 2025. A portion of this funding will support its operations in the DRC. This year, the company plans to invest up to $1.7 billion in the Central African nation, on its Kamoa-Kakula copper complex and its Kipushi zinc mine.
Specifically, Ivanhoe intends to invest between $1.42 billion and $1.67 billion at Kamoa-Kakula. Most of these funds will serve to expand the mine. Last year, from January to September, Ivanhoe spent $1.61 billion on the project.
Kamoa-Kakula is projected to produce over 600,000 tonnes of copper concentrate by 2026, an increase from a peak of 580,000 tonnes expected in 2024. Last year, the complex delivered 437,061 tonnes of copper.
In contrast, Ivanhoe plans to spend far less on its Kipushi this year, mainly because it spent $185 million in H1 2024 to help revive the project. And now that Kipushi started producing, its owner plans to allocate only $25 million to boost processing capacity by 20% by Q3 2025, and $40 million for ongoing operational maintenance.
While these investments cover Ivanhoe’s DRC operations, the firm has not disclosed how much local suppliers should expect to directly capture. Recently, Congolese authorities have intensified efforts to ensure that local subcontractors and suppliers gain more from investments made by foreign mining companies.
