11:56 AM EST, 03/05/2025 (MT Newswires) -- Ivanhoe Mines ( IVPAF ) up 10% on last look, on Wednesday reported a production update for the Kamoa-Kakula Copper Complex and Kipushi mine, both in the Democratic Republic of the Congo.

Kamoa-Kakula delivered copper production in January of 45,477 tonnes and 40,849 tonnes in February. Daily copper production averaged 1,467 tonnes per day (tpd) in January and 1,459 tpd in February, both just shy of the record 1,518 tpd of copper production achieved in December 2024.

Copper production in the last week of February was 11,122 tonnes of copper, equivalent to an annualized production rate of over 578,000 tonnes of copper, which is at the top end of the 2025 annual guidance of 520,000 to 580,000 tonnes of copper, Ivanhoe said.

The "Project 95" initiative on Kamoa-Kakula's Phase 1 and 2 concentrators is expected to increases recoveries to 95% and boost annualized copper production by up to 30,000 tonnes.

Kipushi produced 16,063 tonnes of zinc in January and 11,903 tonnes of zinc in February. Its production rates on an annualized basis are approaching its 2025 guidance range of 180,000 to 240,000 tonnes of zinc in concentrate.

Kipushi is targeting a production rate of over 250,000 tonnes of zinc in concentrate for 2026.

The company's shares were last seen up $1.33 to $14.17 on the Toronto Stock Exchange.

Price: 14.16, Change: +1.32, Percent Change: +10.28