Ivanhoe Mines defers 2026/2027 Kamoa-Kakula guidance

Executive Summary

• Ivanhoe Mines has commenced stage‑two dewatering at the Kakula mine, with three of four high‑capacity submersible pumps installed and commissioned; full pump suite expected to be operational within days.
• Underground water level has already fallen 10 m (out of ~80 m total) and is projected to drop ~1 m per day once all pumps run at a combined rate of ~6,400 L/s (≈550 ML/day).
• Copper production guidance for 2026‑2027 will be postponed until dewatering advances sufficiently to allow physical inspection of newly exposed mine areas.

Key Details

• Three of four stage‑two submersible pumps are now operating; combined rate ≈2,600 L/s.
• Full pump capacity (four pumps) targeted at ≈6,400 L/s (~550 ML/day).
• Water level decline: 10 m achieved since commissioning; expected to reach bottom of stage‑two shafts by end‑Nov 2025.
• Stage‑one temporary pumping infrastructure will be repositioned deeper as water recedes.
• Re‑habilitation of dewatered zones has begun, focusing on areas needed for stage‑one pump relocation.
• Mine planning aims to ramp underground mining at Kakula and Kamoa mines to restore copper output >550,000 t/yr (medium‑term).
• Production guidance for 2026‑2027 deferred pending physical inspection of dewatered zones.
• Technical disclosures reviewed and approved by Steve Amos, EVP Projects, qualified under NI 43‑101 (not independent).

Notable Quotes

(No direct quotes provided in the release.)