March 2023 PROGRESS GALLERY

Building A Tier One, Diversified Producer

On March 13, 2023, Ivanhoe Mines reported a record profit of $434

million for the 2022 financial year, driven by record income from the
Kamoa-Kakula copper joint venture of $405 million.
Expanding production from the world’s highest-grade, major
copper mine; building the next great PGM and zinc mines
and exploring for the next copper giant in Southern Africa’s
legendary mineral fields.

WESTERN FORELAND
Outstanding copper exploration
potential adjacent to Kamoa-
Kakula
Democratic Republic of Congo’s
Central African Copperbelt
KAMOA-KAKULA
Expanding the world's highest-
grade major copper mine
Democratic Republic of Congo’s
Central African Copperbelt

PLATREEF KIPUSHI

Building the world’s largest Restarting the historic ultra-high-

precious metals development grade zinc, copper, silver and
project germanium mine
South Africa’s Democratic Republic of Congo’s
Bushveld Complex Central African Copperbelt

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KAMOA-KAKULA, DRC

Kamoa-Kakula’s inbound logistics team welcomes a new

450-tonne crane in March. (L-R) Ruddy Mutombo, Marc
Muteba, Marc Kafwata, David Kara, Richard Yatha and Salis
Kayumba. 3
KAMOA-KAKULA

Kamoa-Kakula’s processing team gather in front of the Phase 2

ball mills to celebrate being recognized as “Crew of the Month.”
4
KAMOA-KAKULA

Construction of Kamoa-Kakula’s Phase 3 concentrator foundations is

progressing on schedule. The design of the Phase 3 concentrator is
similar to the Phase 1 and 2 concentrators, only larger. The front end
of the concentrator (stockpile, crushing and screening) will be built to
a capacity of 10 Mtpa, double the required capacity for Phase 3, in
anticipation of the future Phase 4 expansion. 5
KAMOA-KAKULA

Surface work at Kamoa-Kakula’s new copper smelter is

advancing well, including civil construction for the concentrate
drying, direct-to-blister facility and slag-cleaning furnace. The
smelter will have a processing capacity of approximately 1.2
Mtpa of dry concentrate. Structural steel installation commenced
in early March. 7
KAMOA-KAKULA

Inside a dyked containment area, foundations are being

constructued for the acid tanks at the smelter site.
6
KAMOA-KAKULA

A 3D rendered image of Kamoa-Kakula’s on-site, 500,000-

tonne-per-annum, direct-to-blister flash copper smelter. It is
projected to be one of the largest, single-line copper flash
smelters in the world, and the largest in Africa.
8
KAMOA-KAKULA

Ongoing civil construction of the concrete foundations for

Kamoa-Kakula's Phase 3 high-pressure-grinding-rolls (HPGR).
9
KAMOA-KAKULA

Construction of the new Kaponda Church was complete in

March 2023 and officially handed over to the Shindano
community. The new church is another community initiative
of Kamoa-Kakula’s Sustainable Livelihoods Program. 10
KAMOA-KAKULA

Children at the Early Childhood Development (ECD) Centre in the

community of Muvunda receiving uniforms and school bags on
opening day. The new Muvunda centre is the third ECD to be
constructed in local communities near the Kamoa-Kakula Copper
Complex since 2022. 11
KAMOA-KAKULA

Significant development continues at the Kamoa Centre of

Excellence. Once in operation, it will be a world-class learning
facility offering degrees and diplomas in collaboration with
internationally accredited institutions. Enrollment has begun and
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first intake of students is expected later this year.
PLATREEF, SOUTH AFRICA

Platreef’s 10-metre diameter Shaft 2 headframe (centre), required for

the Phase 2 expansion, will be among the largest hoisting shafts on
the African continent, with up to 8 Mtpa of hoisting capacity. To date,
78 metres of the 104-metre headframe structure have been erected. 13
PLATREEF

Construction advances at Platreef’s Phase 1 concentrator plant,

with the mill building superstructure foundation work in the
foreground. First production is on schedule for Q3 2024. 14
PLATREEF

Construction of the Masodi wastewater treatment plant is

on schedule for completion in Q4 2023. Treated water
from the facility will be sufficient for Platreef’s Phase 1 and
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Phase 2 water requirements.
PLATREEF

Platreef’s underground work has been focused on the vertical

development of waste passes between the 750-metre, 850-
metre and 950-metres levels, and lateral development towards
the high-grade Flatreef orebody. More than 750 metres of
lateral development has been completed across all three levels. 16
PLATREEF

Tshepiso Promise, safety representative, conducting a review

of construction activities. Safety is a top priority at site, and we
are committed to securing and maintaining a safe and healthy
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work environment that is injury and fatality free.
KIPUSHI, DRC

Surface construction continues on schedule at the Kipushi zinc-copper-

germanium-silver-lead mine, with first production expected in Q3 2024.
Pictured are the foundations of the elevated overland conveyor that will
transfer ore from the P5 shaft to the 800,000 tonnes per annum zinc
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concentrator. The rainy season typically ends in the DRC in April.
KIPUSHI

Kipushi surveyors marking grade lines underground at the

1340 decline ramp. (L-R) Tshimanga Tshanyima, assistant
surveyor, and Mutombo Kasongo Alain, surveyor. 19
KIPUSHI

Kipushi’s crew receive new mining equipment from Swedish

equipment manufacturer Epiroc, which will help to optimize
operations. The new equipment includes scooptram loaders, haul
trucks and drill rigs. The scooptrams and haul trucks feature
Epiroc’s telematics system Certiq, which allows intelligent real-time
monitoring of machine performance and productivity. 20