By: Reuters

Ivanhoe Mines IVN.TO reported third-quarter copper production at the Kamoa-Kakula mine in Democratic Republic of Congo rose 19% from the previous quarter, helped by higher mining rates across the complex, while its Kipushi mine registered record zinc output.

Kamoa-Kakula, which is owned by Canada's Ivanhoe Mines, China's Zijin 601899.SS and the Congolese state, has been increasing output after higher mining rates across the complex boosted quarterly copper output and helped to lift production from the operation's smelter.

The company's quarterly update said that Kamoa-Kakula produced 76,401 metric tons of copper in saleable products in the third quarter, up from 64,328 tons in the previous quarter. Annual production guidance remains unchanged at 290,000 to 310,000 tons of copper, though output is trending towards the lower end of the range, it added.

Quarterly production was supported by higher mining rates at the Kamoa and Kansoko mines, where volumes increased by about 30% to more than 700,000 tons a month during the quarter, the company said.

Ivanhoe also said that output at its Kipushi zinc mine in Congo rose 10% quarter on quarter to 77,147 tons of zinc in concentrate. Kipushi is on track to achieve the upper end of its 2026 production guidance of 240,000 to 290,000 tons, the company added.

At Kamoa-Kakula, the company's smelter produced a record 118,638 tons of high-strength sulphuric acid during the quarter. The average net realized price for sulphuric acid sales roughly doubled from the previous quarter to about $900 a ton, the company said, reflecting strong demand from copper and cobalt producers on the Congolese copper belt.

Ivanhoe also said that a new 60 megawatt hybrid solar facility reached full capacity in September, reducing diesel consumption by about 40% compared with July.

The company has signed power purchase agreements to double the site's solar capacity to 120 MW within 18 months, it said.

(Reporting by Maxwell Akalaare AdombilaEditing by David Goodman)