Ivanhoe Mines Surpasses Q2 Profit Expectations with $46 Million Earnings

Ivanhoe Mines has reported its Q2 2026 financial results and operations update. The company's profit for the quarter was $46 million, a significant improvement from the $2 million loss in Q1 2026. Adjusted EBITDA for the period reached $179 million, including an attributable share of $152 million from Kamoa-Kakula.

Kamoa-Kakula's smelter operating costs were offset by high-strength sulphuric acid sales during Q2 2026. The company sold 119,603 tonnes of sulphuric acid at an average price of $465 per tonne, with expected prices averaging approximately $840 per tonne for July and August delivery.

According to President and Chief Executive Officer Marna Cloete, 'our operational recovery at Kamoa-Kakula is gathering momentum,' with mining rates improving as underground development advances. The company expects higher copper production in the second half of 2026, setting the foundation for an even stronger 2027.

Kipushi also delivered a strong quarter, achieving a record 70,177 tonnes of zinc production at a cost of sales of $1.06/lb and a cash cost (C1) of $0.90/lb. The company continues to examine ways to unlock the high concentrations of gallium and germanium at Kipushi.