Ivanhoe Mines Ltd

IVN

Equity

ISIN CA46579R1047 / Valor 22252140

Toronto Stock Exchange (2025-04-04)

CAD 10.27-11.9%

Ivanhoe Mines Ltd
UMushroom community rating:

0.00 0 votes No rating yet

NegativeNeutralPositive

About company

Ivanhoe Mines Ltd is a diversified mining company engaged in the exploration, development, and production of critical resources essential for a low-carbon future. The company operates the Kamoa-Kakula Copper Complex in the Democratic Republic of Congo, a joint venture with Zijin Mining, which is recognized as one of the world's largest and highest-grade copper deposits. The complex is expected to significantly increase its production capacity following the completion of its Phase 3 expansion in 2024. Ivanhoe Mines also focuses on the production of platinum group metals through its Platreef project in South Africa, which is anticipated to commence production in the third quarter of 2024. Additionally, the company is actively exploring the Western Foreland region, adjacent to the Kamoa-Kakula complex, where it has identified promising copper discoveries. Ivanhoe Mines aims to position itself as a leading producer of copper, platinum, palladium, rhodium, and other green metals, contributing to the global transition towards clean energy.

Summarized from source with an LLMView SourceSector: Non-Energy Materials

Quarterly Profit

Ivanhoe Mines Ltd reported a quarterly profit of $108 million for the third quarter of 2024, showing a significant increase from the $67 million profit recorded in the second quarter of 2024. This improvement highlights the company's strong financial performance during this period.

Revenue and Sales

In Q3 2024, Ivanhoe Mines Ltd's Kamoa-Kakula Copper Complex achieved record sales of 103,106 tonnes of payable copper, resulting in a record quarterly revenue of $828 million. This marks a substantial achievement in the company's sales performance.

Production Milestones

The Kamoa-Kakula Copper Complex produced a record 116,313 tonnes of copper in Q3 2024, contributing to a year-to-date production of 303,328 tonnes. This production milestone underscores the complex's capacity and efficiency in copper production.

Cost of Sales

Ivanhoe Mines Ltd reported a cost of sales of $1.80 per pound of payable copper for Q3 2024. The cash cost (C1) per pound was $1.69, reflecting an increase due to the Phase 3 expansion ramp-up, yet remaining aligned with the company's annual guidance.

Adjusted EBITDA

For the third quarter of 2024, Ivanhoe Mines Ltd recorded an Adjusted EBITDA of $160 million, compared to $203 million in the previous quarter. This figure includes the attributable share of EBITDA from the Kamoa-Kakula operations, indicating a robust financial position.

Summarized from source with an LLMView Source

Key figures

-38.8%1Y

-14.8%3Y

343%5Y

Performance

52.7%1Y

49.0%3Y

47.9%5Y

Volatility