• Ivanhoe signs third zinc sales deal for Kipushi with Mercuria

• Agreements now cover 100% of Kipushi mine’s zinc output

• Kipushi H1 zinc production up 68%, targets 180-240K tons in 2025

Ivanhoe Mines announced on Wednesday, August 27, that it has reached an agreement with Swiss trader Mercuria to sell up to one-third of the zinc output from its Kipushi mine in the Democratic Republic of Congo. The three-year contract, which complements two previous deals, guarantees the sale of 100% of the mine's zinc concentrate production.

Ivanhoe Mines had previously signed sales agreements in July 2024 with CITIC Metal (HK) Limited and Trafigura Asia Trading, covering a combined two-thirds of Kipushi's output. The financial terms and delivery schedules of all three contracts have not been disclosed.

The announcement of this third deal comes as production at the Kipushi mine ramps up. In the first half of 2025, the mine produced 84,524 tons of zinc, a 68% increase from the 50,307 tons delivered during its first six months of operation in 2024.

This momentum is expected to continue following the recent completion of a debottlenecking program at the site. The project, which began in September 2024, aims to increase the plant's throughput by 20%. Ivanhoe anticipates a significant increase in the zinc production rate for the remainder of the year. The company's 2025 production target for the mine is between 180,000 and 240,000 tons.

Aurel Sèdjro Houenou