Global: Ivanhoe Mines has lowered its 2026 copper production forecast for its flagship Kamoa-Kakula project in the Democratic Republic of Congo (DRC), following the release of an updated technical report.
The revised report now estimates 2026 copper anode production in the range of 290,000 to 330,000 tonnes, marking a reduction from earlier projections. The outlook for 2027 has also been scaled down to between 380,000 and 420,000 tonnes, reflecting updated operational assessments.
The Kamoa-Kakula complex, considered one of the world’s highest-grade copper projects, remains a key growth asset in a global market facing supply constraints. Despite the near-term downgrade, the company continues to target a long-term production capacity of over 500,000 tonnes annually by 2028.
Ivanhoe said the updated report incorporates new geological data and operational factors, prompting a fresh feasibility study expected to be completed within a year. Drilling and mapping activities are set to begin in the second quarter of 2026.
The revision highlights ongoing challenges in scaling up production, even as global demand for copper continues to rise due to its critical role in electric vehicles, renewable energy systems, and infrastructure development.