Ivanhoe Mines Reports Strong Q2 Earnings Driven by Higher Copper Prices
Ivanhoe Mines reported strong financial results for the second quarter, with $179 million in adjusted EBITDA and a profit of $46 million. The performance was driven primarily by higher copper prices and contributions from its Kamoa-Kakula complex and Kipushi zinc mine. Kamoa-Kakula produced over 64,000 tonnes of copper during the quarter and generated $385 million in EBITDA. Additionally, Kipushi achieved a record quarterly zinc production exceeding 70,000 tonnes at low cash costs. The company also raised its Kamoa-Kakula 2026 production guidance to between 290,000–310,000 tonnes and expects improved output in the second half of the year. Ivanhoe Mines is on track with growth projects such as Platreef Phase 2, expected by late 2027. The company also plans to reduce copper inventory levels by about 10,000 tonnes during Q3–Q4, which could free up working capital and improve cash flow.
Topics: capital spending copper EBITDA production guidance zinc