Ivanhoe Mines Kicks Off Production at Net-Zero Kamoa-Kakula Mine
Ivanhoe Mines (ISIN: CA46579R1047) has kicked off production at its Kamoa-Kakula mine in the Democratic Republic of Congo, with copper output expected to reach 95,000 tonnes this year. The company aims to make this mine the world's first net-zero emitter among large-scale copper producers.
Ivanhoe Mines began production at the Kamoa-Kakula mine on May 26, 2021, ahead of schedule. This mine is crucial for the energy transition, as it extracts vital raw materials like copper. However, the extraction process raises sustainability concerns.
The company, along with its partners, has committed to reducing the operational greenhouse gas emissions of the Kamoa-Kakula mine to zero. This pledge aligns with the 2015 Paris Agreement and has been welcomed by investors, leading to a stock price increase of over three percent on the announcement day. Ivanhoe Mines' stock price has risen by more than 30 percent this year, thanks to the early opening of the mine and increased commodity prices.
The Kamoa-Kakula mine's early production and Ivanhoe Mines' net-zero pledge highlight the company's commitment to sustainability. As the demand for minerals and metals like copper grows due to electromobility and renewable energy transitions, supporting sustainable mining practices becomes increasingly important.
