Ivanhoe Mines Boosts Copper Production with Strong Q2FY26 Results

Ivanhoe Mines reported strong quarterly results for Q2FY26, driven by copper production and revenue growth. The company produced over 64,000 tonnes of copper in Q2 at a C1 cash cost of $2.70 per pound, with total revenue reaching $880 million. Revenue was supported by a realized copper price of $5.99 per pound, as well as strong sulfuric acid sales contributing $56 million to revenue.

Kamoa-Kakula's smelter operated at approximately 60% capacity in Q2, generating 64,000 tonnes of blister and anodes. However, management tightened its full-year 2026 copper production guidance to 290,000-310,000 tonnes due to operational improvements and planned destocking of inventory.

The company's Kipushi zinc mine produced a record 70,000 tonnes of zinc at a cash cost of $0.90 per pound in Q2. Ivanhoe Mines also made significant progress on its Western Forelands copper resource, with the Makoko District now ranking as the world's largest and highest-grade new copper discovery of the past decade.