Kamoa-Kakula

Lufilian Arc · Cu · Ivanhoe (39.6%) / Zijin (39.6%) / Crystal River (0.8%) / DRC Gov (20% non-dilutable)

intelligence-gradeproducing

Derived from the deployed data layer at build · dataset v2.28.20 · record reviewed 2026-05-02 · machine-readable: /api/v1/deposits/kamoa-kakula.json · ⎙ print / save as PDF

Investment screen

DFI · investment house — is this fundable, watchable, or a pass?

Life-cycle stageproducing Derived

Operating statusOperating; Kakula 2.0 mine plan post-May 2025 seismic event Sourced

Reserve scale (P+P Probable)466 Mt @ 2.82% Cu Sourced ≈ 13 Mt contained Derived

Reserve basis (verbatim)100% project basis

Risk-adjusted rate (§10)~10-11% — operating supermajor Derived

Value anchors

advisory · corporate development — what does the record support?

Resource (Indicated)1272 Mt @ 2.65% Cu Sourced

Resource basis (verbatim)100% project basis

Primary sourceIvanhoe Kamoa-Kakula Mineral Reserve and Mineral Resource Technical Report (NI 43-101), effective 31 Dec 2025, released 31 Mar 2026, prepared by AMC Mining … Sourced

Comparables (Cu-matched)5 African M&A · 1 intl · 1 financing/benchmark — set spans, not market curves · deals · compare assets · data freshness Sourced

Risk read

mining major · insurer — what is the exposure?

Province IC compositeLufilian Arc — 6.75/10 Derived

Ownership structureFour-party JV; DRC Gov 20% is non-dilutable fiscal anchor; Crystal River carries 0.8% Sourced

Worked surfacesdecision loop · insurance view Sourced

Recent events (record, newest last — tail shown)… Cu anodes; 2027 guidance 380-420 kt; cash cost $2.60-3.00/lb (2026) → $2.10-2.50/lb (2027); Inga II turbine #5 refurbished mid-April 2026 providing 178MW stabilised; Reserve down 25% in contained Cu vs Dec 2022 estimate Sourced