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Kamoa Copper produced 105,884 tonnes of copper concentrate in 2021, exceeding the upper end of the increased guidance range of between 92,500 to 100,000 tonnes. The year-end total was boosted by a monthly production record of 18,853 tonnes achieved in December. The 2021 production guidance had been raised from an initial range of 80,000 to 90,000 tonnes in November 2021 during the successful ramp-up of the Phase 1 concentrator plant, which commenced operations on 25 May 2021 and achieved commercial production on 1 July 2021.
Kamoa Copper’s 2022 annual production guidance is between 290,000 to 340,000 tonnes of copper in concentrate. The guidance range for cash costs (C1) per pound of payable copper in 2022 has been set at between $1.20 and $1.40 per pound.
In December, a record 372,000 tonnes of ore were milled at an average feed grade of 5.98% copper, exceeding the monthly design run rate of 316,667 tonnes by more than 17%. Copper flotation recoveries reached an all-time high of 88.5%. The Phase 1 steady-state design copper recovery is approximately 86%, depending on ore feed grade.
Ivanhoe Mines Executive Co-Chair, Robert Friedland commented on the company’s remarkable performance: “Kamoa Copper’s outstanding operational success in 2021 is a product of the culture and values promoted throughout the organisation.”