IVANHOE MINES LTD A - IVPAF STOCK NEWS

Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) has announced a 15-minute delay to its third quarter 2024 financial results conference call on October 30, 2024. The call will now begin at 10:45 a.m. Eastern time / 7:45 a.m. Pacific time. The event will include a Q&A session, with media invited to attend in listen-only mode. The company will make presentation slides and an audio webcast recording available on their website, along with the condensed consolidated interim financial statements and Management's Discussion and Analysis on both their website and SEDARplus.

Ivanhoe Mines reports Q3 2024 profit of $108 million and Adjusted EBITDA of $160 million. The Kamoa-Kakula Copper Complex achieved record production of 116,313 tonnes of copper in Q3, with year-to-date production of 303,328 tonnes. Revenue reached $828 million with EBITDA of $470 million. Cost metrics show C1 cash cost of $1.69/lb and cost of sales at $1.80/lb. The Phase 3 concentrator has achieved steady state production, while Africa's largest copper smelter project remains on schedule for completion this year. 2024 production guidance was revised to 425,000-450,000 tonnes of copper.

Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) has scheduled the release of its Q3 2024 financial results for October 30, 2024, before market open. The company will host an investor conference call at 10:30 a.m. Eastern time / 7:30 a.m. Pacific time on the same day, featuring a Q&A session. Media representatives can attend in listen-only mode. The financial statements and Management's Discussion and Analysis will be available on the company's website and SEDAR following the release.

Ivanhoe Mines reported record Q3 2024 production for its Kamoa-Kakula Copper Complex and Kipushi zinc mine in the DRC. Key highlights include:

1. Kamoa-Kakula produced a record 116,313 tonnes of copper in concentrate, with the Phase 3 concentrator ramping up.

2. Kipushi produced 17,817 tonnes of zinc in concentrate during ramp-up.

3. Kamoa-Kakula's 2024 production guidance adjusted to 425,000 - 450,000 tonnes of copper.

4. Kipushi's 2024 production guidance lowered to 50,000 - 70,000 tonnes of zinc.

5. Kamoa-Kakula's Phase 3 concentrator nearing steady-state production.

6. Kipushi concentrator achieving recoveries over 90% as ramp-up continues.

7. Kamoa-Kakula's 500,000 tpa smelter on schedule for year-end completion.

Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) has signed a Memorandum of Understanding (MOU) with Zambia's Ministry of Mines and Minerals Development to facilitate exploration activities in the country. The MOU outlines a partnership for sustainable development of Zambia's mineral resources, with Ivanhoe applying for new exploration rights. Key points include:

1. The Ministry will share information, identify prospective land packages, and provide access to geological data.
2. Ivanhoe plans to invest in exploration following its successful model from the Kamoa-Kakula Copper Complex in DRC.
3. Zambia aims to quadruple copper production to 3 million tonnes by 2031, potentially becoming the world's second-largest producer.
4. The agreement aligns with Zambia's nationwide geophysical survey to map mineral resources.

Ivanhoe Mines announced record copper production at its Kamoa-Kakula Copper Complex in the Democratic Republic of Congo. In August, the Phase 1, 2, and 3 concentrators achieved a combined monthly production record of 40,347 tonnes of copper in concentrate and a milling record of 1.1 million tonnes. A daily production record of 2,096 tonnes of copper was set on August 31. The Phase 3 concentrator is nearing steady-state production, with hot commissioning of fine-grinding mills expected to be completed soon, potentially boosting recoveries to the nameplate target of 86%.

Year-to-date production is approximately 263,000 tonnes of copper, with 14,000 tonnes from Phase 3. Kamoa-Kakula expects to achieve its 2024 guidance of 440,000 to 490,000 tonnes of copper. On-site backup power generation capacity has been increased to 135 MW, ensuring full operation of Phase 1 and 2 concentrators even without grid power.

Ivanhoe Mines announces that the Phase 3 concentrator at the Kamoa-Kakula Copper Complex in the Democratic Republic of Congo has achieved commercial production. The complex reported a record 35,941 tonnes of copper produced in July. With Phase 3, Kamoa-Kakula's annual copper production capacity increases to over 600,000 tonnes, making it the third-largest copper mining complex globally.

The Phase 3 concentrator was completed ahead of schedule on May 28, 2024, with copper concentrate production starting on June 10, 2024. It consistently mills at the nameplate processing rate of 5 million tonnes of ore per annum. The company is also pursuing ways to maximize copper production through the 'Project 95' program and debottlenecking of the Phase 3 concentrator.

Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) reported a fatal accident at its Kamoa-Kakula Copper Complex in the Democratic Republic of Congo. The incident occurred underground at the Kansoko mine, where a drill rig operator, Mr. Bruno Akake Mutombo, was struck by a fall of ground. Despite emergency response efforts, Mr. Mutombo later succumbed to his injuries at the hospital.

The company has initiated a comprehensive review of the incident and is cooperating with DRC authorities in their investigation. Ivanhoe Mines has expressed its commitment to enhancing safety protocols at its operations. Mining activities at Kansoko were temporarily suspended but have since resumed after securing the incident area.

Ivanhoe Mines reported a quarterly profit of $67 million and a record normalized profit of $115 million for Q2 2024, significantly driven by the Kamoa-Kakula joint venture income of $90 million. The company achieved a record Adjusted EBITDA of $203 million, up from $126 million in Q1 2024.

Kamoa-Kakula generated record revenue of $817 million and record EBITDA of $547 million, selling 95,900 tonnes of payable copper at a cost of sales of $1.53 per lb. The C1 cash cost stood at $1.52 per lb., at the lower end of guidance. The Phase 3 concentrator was completed ahead of schedule, increasing annual copper production to approx. 600,000 tonnes. Additionally, the smelter project is over 85% complete and on track for year-end completion.

Elsewhere, the Kipushi concentrator was finished ahead of schedule with ramp-up to steady-state expected in Q3. First ore was fed into the concentrator on May 31, 2024, and the first zinc concentrate was produced on June 14, 2024.

Financially, Ivanhoe Mines maintains a strong balance sheet with $246 million in cash and minimal corporate debt post-convertible note redemption. New funding includes $200 million from a term finance facility and $110 million in loans for Kipushi operations.