Ivanhoe’s Kipushi zinc record: production metrics and TSF progress for mine planners
Reviewed by Joe Ashwell

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.
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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