IVANHOE MINES LTD A - IVPAF STOCK NEWS

Kamoa Copper has signed an MOU with Lobito Atlantic International for the transportation of copper concentrate by rail to the port of Lobito in Angola. The rail line extends for 1,739 kilometers from Lobito to Kolwezi in the DRC. The Lobito Corridor is expected to reduce logistics costs and carbon footprint, accelerating the economic development of the DRC and the wider region. An initial trial shipment of up to 10,000 tonnes of copper concentrate will be transported in Q4 2023.

Ivanhoe Mines provides an update on preliminary test work conducted to improve copper recovery at the Kamoa-Kakula Copper Complex. Results indicate a significant improvement in total copper recoveries can be achieved by liberating copper from the tailings stream. This breakthrough could increase production to over 700,000 tonnes per annum and generate additional revenue and cash flow. Various technologies are being leveraged to improve copper recoveries, including grinding and reprocessing the tailings stream. Promising preliminary results show that approximately 65% of the contained copper can be recovered from the tailings stream, creating a saleable concentrate with a grade of approximately 40% copper. DRA Global has been appointed to design a stand-alone processing plant to treat the entire tailings stream, and the economics of the project are significantly positive.