Ivanhoe Mines Up 1.3% As Says Kipushi Mine Set To Become World's Fourth Largest Zinc Producer In 2026
Ivanhoe Mines (IVN.TO) Executive Co-Chairman Robert Friedland and President and Chief Executive Officer Marna Cloete announced Thursday that the Kipushi Mine in the Democratic Republic of the Congo (DRC) achieved a monthly production record of 25,677 tonnes of zinc in concentrate in May.Among highlights, the Ivanhoe management said a production record was achieved as zinc prices near four-year highs, and added the Kipushi Mine is set to become world's fourth largest zinc producer in 2026.During the month, the concentrators milled a record 72,003 tonnes of ore at an average recovery of 93%, with an average plant feed grade of 36.2% zinc. The production record is 12% higher than the previous record of 22,968 tonnes of zinc, which was set in January 2026, the company said.Year-to-date zinc production totals approximately 110,000 tonnes of zinc. Annualized, this is equivalent to approximately the mid-point of the 2026 production guidance range of 240,000 to 290,000 tonnes of zinc, the company added.During May, 85,811 tonnes of ore were mined and hoisted to the surface. At the end of May, approximately 12,000 tonnes of ore were stored in surface, high-grade run-of-mine (ROM) stockpiles, at a grade of approximately 37% zinc. The lower-grade stockpiles contain 254,000 tonnes of ore with an average grade of approximately 22% zinc, Ivanhoe noted.Shares were last seen up 1.3% at $12.51.Price: $12.31, Change: $-0.04, Percent Change: -0.32%