Key Takeaways
- • Kipushi Mine achieved a May 2026 production record of 25,677 tonnes of zinc in concentrate, representing a 12% increase over the previous record of 22,968 tonnes set in January 2026.
- • Year-to-date zinc production of approximately 110,000 tonnes is tracking at the midpoint of Ivanhoe Mines' 2026 full-year guidance of 240,000 to 290,000 tonnes, positioning Kipushi among the world's top four zinc producers.
- • May processing metrics demonstrate operational efficiency: the concentrator milled 72,003 tonnes of ore at a 93% average recovery rate with a plant feed grade of 36.2% zinc, supported by high-grade ROM stockpiles of 12,000 tonnes at 37% zinc.
- • The mine's second tailings storage facility (TSF) is over 90% complete with expected commissioning in October 2026, designed to comply with Global Industry Standard on Tailings Management (GISTM), enabling future production expansion.
- • Kipushi Mine's operational restart in mid-2024 following modernization to an 800,000-tonne-per-annum concentrator capacity is delivering accelerating monthly production records in a zinc market near four-year price highs.
Summary
Ivanhoe Mines announced on June 4, 2026, that its Kipushi Mine in the Democratic Republic of the Congo achieved a new monthly production benchmark of 25,677 tonnes of zinc in concentrate during May—a 12% improvement over the previous record of 22,968 tonnes established in January 2026. The achievement underscores the operational momentum of the historic mine following its restart in mid-2024 with a state-of-the-art 800,000-tonne-per-annum concentrator facility.
Operating efficiency metrics for May were robust: the concentrator processed 72,003 tonnes of ore at a 93% recovery rate, with an average plant feed grade of 36.2% zinc. Mining operations hoisted 85,811 tonnes of ore to the surface during the month, while surface stockpiles of high-grade run-of-mine material reached approximately 12,000 tonnes at 37% zinc grade. Lower-grade stockpiles contain 254,000 tonnes at an average grade of approximately 22% zinc, providing operational flexibility for mill feed optimization.
Year-to-date production through May totals approximately 110,000 tonnes of zinc. On an annualized basis, this trajectory aligns with the midpoint of Ivanhoe's 2026 production guidance range of 240,000 to 290,000 tonnes of zinc, positioning Kipushi to rank among the world's four largest zinc producers. The timing of this ramp-up coincides with zinc prices trading near four-year highs, creating a favorable pricing environment for the producer.
Infrastructure development is progressing to support sustained production growth. The mine's second tailings storage facility (TSF) is over 90% complete, with the facility expected to begin receiving tailings deposits from October 2026. Both the new TSF and existing facilities are being designed to comply with the Global Industry Standard on Tailings Management (GISTM), addressing environmental governance requirements for major mine operators. This capacity expansion indicates management confidence in maintaining elevated production rates beyond current operational constraints.
Operating efficiency metrics for May were robust: the concentrator processed 72,003 tonnes of ore at a 93% recovery rate, with an average plant feed grade of 36.2% zinc. Mining operations hoisted 85,811 tonnes of ore to the surface during the month, while surface stockpiles of high-grade run-of-mine material reached approximately 12,000 tonnes at 37% zinc grade. Lower-grade stockpiles contain 254,000 tonnes at an average grade of approximately 22% zinc, providing operational flexibility for mill feed optimization.
Year-to-date production through May totals approximately 110,000 tonnes of zinc. On an annualized basis, this trajectory aligns with the midpoint of Ivanhoe's 2026 production guidance range of 240,000 to 290,000 tonnes of zinc, positioning Kipushi to rank among the world's four largest zinc producers. The timing of this ramp-up coincides with zinc prices trading near four-year highs, creating a favorable pricing environment for the producer.
Infrastructure development is progressing to support sustained production growth. The mine's second tailings storage facility (TSF) is over 90% complete, with the facility expected to begin receiving tailings deposits from October 2026. Both the new TSF and existing facilities are being designed to comply with the Global Industry Standard on Tailings Management (GISTM), addressing environmental governance requirements for major mine operators. This capacity expansion indicates management confidence in maintaining elevated production rates beyond current operational constraints.
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