Kamoa-Kakula, developed by Ivanhoe Mines near Kolwezi in the DRC’s Lualaba copperbelt, is one of the world’s fastest-growing copper operations, producing 437,061 tonnes of copper in 2024. Its new 500,000 t/yr direct-to-blister smelter began ramping up in late 2025, and the site sent its first 99.7%-purity copper anodes via the Lobito Corridor in Q1 2026 — following trial shipments that began in January 2024 under a Reserved Capacity Agreement allowing 120,000-240,000 tonnes/year of mineral product transport. Offtake for the smelter’s full output is covered by CITIC Metal, Zijin Mining and Trafigura Asia Trading, the latter including a $200m advance payment.
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