09:12 AM EST, 01/08/2025 (MT Newswires) -- Ivanhoe Mines ( IVPAF ) on Wednesday said its Kamoa-Kakula Copper Complex in the Democratic Republic of the Congo produced a record 437,061 tonnes of copper in concentrate in 2024 and set its 2025 production outlook at between 520,000 and 580,000 tonnes of copper.

Ivanhoe said at the end of 2024 it had 30,000 tonnes of unsold copper in inventory, which is largely undergoing toll treatment at the Lualaba Copper Smelter and is expected to fall during the first quarter.

The company said smelter commissioning may be delayed by up to three months following limited fire damage to back up generation capacity and added that expedited repairs were underway with a full assessment of the damage expected to be completed within the coming weeks.

"Even in the extremely unlikely event that all grid-supplied power were to completely fail, there is sufficient onsite back up generator capacity available to run Kamoa-Kakula's Phase 1, 2, and 3 operations, excluding the smelter," the company said in a statement.

Kipushi produced 50,307 tonnes of zinc in concentrate in 2024 and set its 2025 production guidance at between 180,000 and 240,000 tonnes of zinc. The company said in 2026, Kamoa-Kakula is targeting a production rate of about 600,000 tonnes of copper in concentrate and Kipushi is targeting a production rate of over 250,000 tonnes of zinc in concentrate.

The company expects 2025 Kamoa-Kakula and Platreef capital expenditures to be between $1.67 billion and $1.42 billion, and $320 million and $240 million, respectively. Ivanhoe expects Kipushi capital expenditure to be $65 million in 2025.

Ivanhoe Mines ( IVPAF ) will issue its 2024 financial results after market close on Feb. 19 and will host a conference call for investors on Feb. 20.

Shares of the company closed down $0.21 or 1%, to $17.53 on Tuesday on the Toronto Stock Exchange.