Ivanhoe Mines Posted Solid Q3 2025 Results on Strong Copper Output
Mining News | 2025-11-03 18:52:29
The company reported adjusted EBITDA of $87 million in Q3 2025, compared to $123 million in Q2 2025.
By Paul Ploumis
SEATTLE (Scrap Monster): Canadian mining major Ivanhoe Mines has released its financial and operational results for the third quarter of 2025, along with updates on key project developments.
The company posted an adjusted EBITDA of $87 million in Q3 2025, down from $123 million in Q2 2025. Profit after tax came in at $31 million, compared to $108 million in the same quarter last year and $35 million in the previous quarter, reflecting lower realized metal prices and higher operating costs.
The flagship Kamoa-Kakula Copper Complex generated $566 million in revenue and an operating profit of $69 million, with EBITDA at $196 million for the quarter. The operation sold 61,528 tonnes of copper at an average realized price of $4.42 per pound. However, unsold copper inventory rose to approximately 59,000 tonnes by the end of Q3, up from around 53,600 tonnes at the end of Q2 2025, signaling a temporary buildup in stock due to shipping delays.
Meanwhile, the company’s Kipushi Zinc Mine achieved record performance, selling 49,744 tonnes of zinc at an average realized price of $1.27 per pound. Kipushi reported its highest-ever quarterly revenue of $129 million, with a segment profit of $8 million and EBITDA of $27 million, reflecting stronger operational throughput and steady market demand.
During the quarter, Ivanhoe Mines also strengthened its balance sheet through a $500 million private placement with the Qatar Investment Authority, alongside an additional $70 million raised from Zijin Mining following the exercise of its anti-dilution rights.
The company stated that these financial inflows will help support the ongoing development and expansion of its African mining projects, while reinforcing its position as one of the fastest-growing diversified miners in the global metals market.
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What do you think was the most significant highlight from Ivanhoe Mines’ Q3 2025 results?
Frequently Asked Questions
- What were Ivanhoe Mines’ key financial results for Q3 2025?
The company reported an adjusted EBITDA of $87 million, down from $123 million in Q2 2025. Profit after tax stood at $31 million, compared to $108 million in Q3 2024 and $35 million in Q2 2025, mainly due to lower metal prices and increased operating expenses.
- How did the Kamoa-Kakula Copper Complex perform during the quarter?
The Kamoa-Kakula project generated $566 million in revenue, with an operating profit of $69 million and EBITDA of $196 million. It sold 61,528 tonnes of copper at an average price of $4.42 per pound, while unsold inventory rose to 59,000 tonnes due to logistical delays.
- What financing developments occurred in Q3 2025?
Ivanhoe Mines secured $500 million from the Qatar Investment Authority through a private placement and an additional $70 million from Zijin Mining, following the exercise of its anti-dilution rights.
