Ivanhoe Mines Ltd.

Ivanhoe Mines Ltd. is a Canadian mining company with a global focus, primarily advancing high-impact copper, nickel, and platinum-group metals (PGM) projects in Southern Africa. Ivanhoe’s flagship asset, the Kamoa-Kakula Copper Complex in the Democratic Republic of Congo (DRC), ranks as one of the largest, highest-grade copper deposits in the world. Through significant development efforts, including the ongoing Phase 3 expansion, the project is projected to increase annual copper production capacity to over 600,000 tonnes, establishing it as the third-largest copper mining complex globally.

Alongside Kamoa-Kakula, Ivanhoe is advancing its Platreef PGM-nickel project in South Africa and the Kipushi zinc project in the DRC, both set to become major, low-cost producers in their respective markets. Ivanhoe’s projects are strategically designed to minimize environmental impact, prioritizing renewable energy and infrastructure upgrades to meet stringent sustainability goals. Listed on the Toronto Stock Exchange (TSX: IVN) and OTCQX (IVPAF), Ivanhoe Mines is led by a seasoned team with deep expertise in the resource sector, positioning the company for substantial growth and long-term value creation.

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Ivanhoe Mines offers a unique investment opportunity with its portfolio of advanced-stage, high-grade projects poised to capitalize on the increasing global demand for copper, nickel, and PGMs—key metals essential to green energy transitions. The Kamoa-Kakula project alone boasts robust economics, with an estimated 22-year mine life, low production costs, and impressive resource potential. Phase 3 is nearing completion, set to significantly enhance Ivanhoe’s output and secure its position as a top copper producer on the African continent.

Beyond Kamoa-Kakula, Ivanhoe’s Platreef and Kipushi projects further bolster its growth profile. The Platreef project is set to become a major, cost-effective source of PGMs and nickel, while Kipushi, a high-grade zinc project, is advancing towards becoming one of the largest global zinc producers. In addition to strong project economics, Ivanhoe’s assets are situated in resource-rich jurisdictions that present supportive mining environments, enhancing the company’s growth trajectory. By combining sustainable practices with a focus on operational efficiency, Ivanhoe Mines is well-positioned to deliver long-term value to investors amid rising demand for critical minerals.

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Ivanhoe Mines is led by an accomplished management team with a proven record in mining exploration, project development, and sustainable resource management. Founder and Executive Co-Chairman Robert Friedland brings over three decades of experience and is recognized as a pioneer in the development of world-class mineral discoveries. Under his vision, Ivanhoe has grown into one of the most influential mining companies in Africa.

President Marna Cloete oversees day-to-day operations and financial performance, drawing on her deep expertise in corporate finance and mining operations management. With a strong commitment to health, safety, and environmental responsibility, Cloete plays a crucial role in driving Ivanhoe's sustainable development initiatives. Chief Financial Officer David van Heerden brings a wealth of financial strategy and capital management experience, ensuring Ivanhoe’s financial resilience and efficient funding for major projects.

The technical leadership is spearheaded by Chief Operating Officer Mark Farren, whose extensive operational background has been instrumental in bringing Kamoa-Kakula to record production levels. Together, the Ivanhoe Mines management team combines industry-leading expertise with a strong commitment to operational excellence, safety, and environmental stewardship.

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Ivanhoe Mines is executing a multi-tiered growth strategy focused on expanding its core assets to drive significant production increases while maintaining stringent environmental standards. The company’s flagship Kamoa-Kakula Copper Complex is undergoing a transformative Phase 3 expansion, targeting a production capacity of over 600,000 tonnes of copper annually, which will establish it as one of the world’s largest copper producers. Further expansions and Project 95 initiatives aim to increase recoveries and throughput, positioning Kamoa-Kakula as a cornerstone asset in the global copper market.

Ivanhoe’s growth strategy also emphasizes the advancement of its Platreef and Kipushi projects. The Platreef PGM-nickel project in South Africa is set to become a leading supplier of platinum-group metals and nickel, with a development timeline that includes a planned Phase 3 expansion to increase processing capacity to over 10 million tonnes per annum. Meanwhile, the Kipushi zinc project is moving towards production and is expected to be one of the world’s lowest-cost zinc producers, contributing robustly to Ivanhoe’s diversified production portfolio.

Environmental responsibility remains central to Ivanhoe’s growth approach. The company is investing in renewable energy and grid infrastructure upgrades in the DRC to support sustainable power solutions for its operations, aligning with ambitious goals to reduce carbon emissions and achieve near-zero reliance on fossil fuels. By combining high-grade assets, cost-efficient operations, and a strong commitment to ESG principles, Ivanhoe Mines is well-positioned to deliver substantial, sustainable growth in the years ahead.

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Ivanhoe Mines is financially well-positioned to drive the expansion of its high-grade copper, nickel, and zinc projects in Africa, supported by strong project economics and strategic joint-venture financing. As of Q3 2024, the Kamoa-Kakula Copper Complex achieved record quarterly revenue of $837 million, reflecting Ivanhoe’s successful ramp-up of Phase 3 production. The project’s low C1 cash cost of $1.69 per pound and robust EBITDA margin underscore Ivanhoe’s capital efficiency and operational profitability.

With substantial growth underway, Ivanhoe is investing in its other core assets, the Platreef PGM-nickel project and Kipushi zinc project. The company has secured a $900 million term loan and working capital facility for Kamoa-Kakula, as well as a $75 million working capital facility that supports continued development. Ivanhoe’s prudent financial strategy, which includes raising capital through a mix of debt, equity, and joint-venture financing, is designed to fund project expansions while managing shareholder value. Supported by a strong cash flow profile, Ivanhoe is well-positioned to achieve significant growth while maintaining financial stability.

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Ivanhoe Mines Ltd. stands as a leading force in the global mining industry, advancing a portfolio of high-grade, large-scale copper, nickel, and zinc assets that are essential for the global energy transition. With its flagship Kamoa-Kakula Copper Complex positioned to become one of the largest copper mines worldwide, alongside the development of the Platreef and Kipushi projects, Ivanhoe is well-poised to deliver substantial, sustainable value for investors.

Guided by a visionary management team, Ivanhoe’s strategy combines rigorous operational efficiency with a strong commitment to environmental, social, and governance (ESG) principles. The company’s proactive investments in renewable energy and infrastructure upgrades underscore its dedication to responsible mining practices and long-term carbon reduction goals.

For investors seeking exposure to critical metals with strong growth potential, Ivanhoe Mines presents a compelling opportunity. As the company progresses through significant project milestones—from expansion and construction to steady-state production—it is set to capitalize on favorable commodity prices and rising global demand. Ivanhoe’s disciplined approach, robust financial foundation, and ESG leadership ensure it is not only positioned for enduring growth but also set to make a lasting positive impact on the communities it serves and the environment it operates in.

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