Ivanhoe Mines Posts Strong Q2 Results on Back of Kamoa-Kakula Recovery
Ivanhoe Mines reported its Q2 2026 financial results, showing a profit of $46 million compared to a $2 million loss in Q1 2026. The company's Adjusted EBITDA reached $179 million, with an attributable share of EBITDA from Kamoa-Kakula amounting to $152 million.
The Kamoa-Kakula copper complex saw its smelter operating costs offset by high-strength sulphuric acid sales during Q2 2026. Sulphuric acid production averaged over 1,250 tonnes per day, with contract prices increasing by more than 100% this year to approximately $840 per tonne.
Kipushi produced a record 70,177 tonnes of zinc in Q2 2026 at a cost of sales of $1.06/lb and a cash cost (C1) of $0.90/lb as prices climbed to multi-year highs of $1.60/lb. The company's balance sheet is expected to strengthen in the second half of 2026 as it monetizes its stockpiles of unsold metal.
Founder and Co-Chairman Robert Friedland commented, 'Our operational recovery at Kamoa-Kakula is gathering momentum and we firmly believe we have turned the corner... Mining rates have continued to improve at both Kamoa and Kakula as underground development advances and additional mining areas are brought online.'