Canada's Ivanhoe Mines Q3 profit rises, lowers 2027 Kamoa-Kakula copper guidance
Ivanhoe Mines reported Q3 profit of $45 million and adjusted EBITDA of $241 million, while Kamoa-Kakula posted record quarterly revenue above $1 billion. The company lowered its 2027 copper production guidance to 300,000-350,000 tonnes and raised cash cost guidance to $2.50-$3.00 per pound.
1. Quarterly results
Ivanhoe Mines reported Q3 profit of $45 million and adjusted EBITDA of $241 million. The Kamoa-Kakula copper complex posted record quarterly revenue exceeding $1 billion.
2. 2027 outlook
The company lowered Kamoa-Kakula's 2027 copper production guidance to 300,000-350,000 tonnes and raised cash cost guidance to $2.50-$3.00 per pound, from $2.10-$2.50 per pound. The complex aims for about 500,000 tonnes of annual copper output after its Phase 4 expansion.
3. Operating factors
Ivanhoe said increased mining rates and improved concentrator recoveries contributed to Q3 results. The hybrid solar facility's ramp-up lowered energy and diesel costs, while sulphuric acid by-product sales offset smelter operating costs.
