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    Ivanhoe’s Kipushi zinc record: production metrics and TSF progress for mine planners

    June 4, 2026|

    Reviewed by Joe Ashwell

    Ivanhoe’s Kipushi zinc record: production metrics and TSF progress for mine planners

    First reported on MINING.com

    30 Second Briefing

    Ivanhoe Mines’ Kipushi operation in the DRC set a new monthly record in May with 25,677 tonnes of zinc concentrate, driven by 72,003 tonnes milled at 36.2% Zn feed grade and 93% recovery, putting year-to-date output at about 110,000 tonnes. At this run rate, Kipushi would rank as the world’s fourth-largest zinc producer in 2026, within guidance of 240,000–290,000 tonnes, while a second tailings storage facility is 90% complete with first deposition targeted for October 2026. The performance comes as LME zinc trades near $3,630/t, close to a four-year high.

    Technical Brief

    • Kipushi’s May output exceeded the previous monthly record of 22,968 t concentrate by 12%.
    • The mine lies 30 km southwest of Lubumbashi in the southern DRC Copperbelt.
    • Ownership structure is 62% Ivanhoe Mines and 38% state miner Gécamines.
    • Kipushi restarted in 2024 after nearly 20 years on care-and-maintenance pre‑2011 investment.
    • The current restart coincides with the operation’s centenary, first production having begun in 1924.
    • Market capitalisation of Ivanhoe Mines rose to C$18.2 billion on the production update.
    • Zinc price near $3,630/t contrasts with analyst forecasts of a 2025 supply surplus.

    Our Take

    With Ivanhoe Mines already cutting 2026–27 copper guidance at Kamoa-Kakula, a strong zinc ramp-up at Kipushi in the DRC gives the company a useful commodity and asset-level hedge within the same country risk profile.

    The 90% completion of the second tailings storage facility at Kipushi signals that Ivanhoe is locking in higher-throughput, longer-life tailings capacity early in the restart cycle, which typically reduces future debottlenecking risk for high-grade zinc circuits.

    In our database of 1186 Mining stories, zinc appears far less frequently than copper or gold, so Kipushi’s 36.2% plant feed grade and 93% recovery rate position it as one of the more technically robust zinc assets in recent coverage, likely attracting attention from smelters and traders seeking secure concentrate supply.

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    Prepared by collating external sources, AI-assisted tools, and Geomechanics.io’s proprietary mining database, then reviewed for technical accuracy & edited by our geotechnical team.

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