Ivanhoe Starts Copper Anode Production at Kamoa-Kakula Smelter in DRC
Analysts at BMO Capital Markets said the development aligns with company guidance and market expectations.
SEATTLE (Scrap Monster): Ivanhoe Mines has officially commenced copper anode production at the Kamoa-Kakula direct-to-blister smelter in the Democratic Republic of the Congo, marking a major milestone for the flagship copper complex.
First anode production was achieved on December 29, 2025, roughly five weeks after the smelter heat-up began and one week after the first concentrate feed.
Once fully ramped up, the facility will have a steady-state capacity of 500,000 tonnes per annum, making it the largest copper smelter in Africa. Ivanhoe founder and executive co-chairman Robert Friedland described the achievement as a defining moment, noting that the smelter will deliver high-purity Congolese copper anodes while setting new benchmarks for scale, efficiency, and sustainability.
Analysts at BMO Capital Markets said the development aligns with company guidance and market expectations. Ivanhoe shares rose as much as 5% following the announcement before easing, trading around C$16 with a market capitalization of approximately C$23.2 billion.
The company is now ramping up the smelter to full capacity, targeting completion by year-end. Kamoa-Kakula copper production is forecast at 380,000–420,000 tonnes in 2026, supported by destocking of on-site concentrate inventories amid strong copper prices.
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