Kamoa-Kakula produced 64,328 tonnes of copper in Q2 2026. Ivanhoe has tightened its 2026 production guidance to 290,000–310,000 tonnes of copper. Commissioning of Kamoa-Kakula’s 60MW solar facility with battery backup is underway, ramping up to full capacity by end of Q3 2026. The Platreef Phase 2 expansion is on target for Q4 2027 completion. Kipushi produced a record 70,177 tonnes of zinc in Q2 2026. The company is no longer just “expanding” — it is in full active production across three tier-one operations.
Company Profile
Key Developments
Kamoa-Kakula's new 500,000t/yr direct-to-blister smelter began shipping copper anodes via the Lobito Corridor in Q1 2026; Q1 2026 production of 71,417t copper in blister/anode; Platreef PGM mine began production and is moving into Phase II expansion; Kipushi zinc mine set Q4 2025 production records
Key Risks
A May 2025 seismic tremor temporarily disrupted Kakula underground operations; a Global Witness investigation flagged displacement risk for roughly 6,500 people in areas affected by Kamoa-Kakula's expanding footprint; exposure to DRC regulatory environment (cobalt export quotas, security situation)
What Happens Next
Watch 2026 full-year smelter ramp-up data and further Kamoa underground expansion (stoping at Kamoa targeted H2 2026, Kakula H1 2027)
Commercial Opportunity
Copper/zinc/PGM offtake, mining services and equipment supply, logistics via the Lobito Corridor