• Ivanhoe Mines signs deal covering 100% of Kamoa-Kakula smelter’s copper output.

• The smelter will process up to 500,000 tonnes annually, starting at 50% capacity.

• Ivanhoe secured $700 million in advance payments from partners including Trafigura, CITIC Metal, and Zijin Mining.

Ivanhoe Mines launched the Kamoa-Kakula copper smelter project in 2021 to process copper produced at its namesake mine in the Democratic Republic of Congo. As the smelter’s September 2025 start date nears, the company has finalized agreements to sell all its future production.

On July 8, Ivanhoe announced a new deal with Swiss trader Trafigura to sell 20% of the smelter’s output over three years. This deal completes Ivanhoe’s coverage of 100% of the smelter’s copper production. Earlier agreements with Chinese firms CITIC Metal and Zijin Mining cover the remaining 80%.

Together, these contracts secured Ivanhoe $700 million in advance payments from its partners. This milestone guarantees a market for all refined copper from the facility.

The smelter will have an annual capacity of 500,000 tonnes of copper concentrate, making it Africa’s largest. However, it will initially operate at 50% capacity.

Ivanhoe plans to prioritize processing all copper concentrate from the Kamoa-Kakula mine at this smelter. Any excess concentrate will go to the Lualaba smelter, which has handled the mine’s copper since it opened.

Aurel Sèdjro Houenou