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 v2.4.3 · record reviewed 2026-05-02 · machine-readable: /api/v1/deposits/kamoa-kakula.json

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 ≈ 13 Mt contained Sourced

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 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

Recent events (record)Phase 3 ramp-up April 2026; smelter first anode Dec 29 2025; Kakula 2.0 mine plan active post-May 2025 seismic event; 2026 guidance 290-330 kt Cu anodes; 2027 guidance 380-420 kt … Sourced