Ivanhoe Mines announced on 4 June 2026 that its Kipushi zinc mine, in the Democratic Republic of the Congo, produced a record 25,677 tonnes of zinc in concentrate in May. The figure represents a 12% increase over the previous monthly record of 22,968 tonnes set in January 2026. During the month, the concentrator milled a record 72,003 tonnes of ore at an average recovery of 93% and an average plant feed grade of 36.2% zinc. Some 85,811 tonnes of ore were mined and hoisted to surface.
Year-to-date production at Kipushi now totals approximately 110,000 tonnes of zinc. Annualised, this projects to approximately 308,000 tonnes — around the mid-point of Ivanhoe's 2026 production guidance range of 240,000 to 290,000 tonnes. At this output level, Kipushi positions to become the world's fourth-largest zinc mining operation in 2026.
The announcement was made by Ivanhoe Mines Executive Co-Chairman Robert Friedland and President and Chief Executive Officer Marna Cloete. The Kipushi project is held by Ivanhoe Mines (68%) and the Congolese state mining company Gécamines (32%), with Gécamines' interest scheduled to increase to 38% upon completion of conditions precedent to the updated joint venture agreement signed in late 2023.
Kipushi is the world's highest-grade zinc mine, with an average feed grade of around 36% zinc — more than five times the global zinc-mine average. The 800,000-tonne-per-annum concentrator was completed in May 2024, with first concentrate produced in June 2024. The mine was a major zinc and copper producer through the colonial and early post-colonial era, then closed for roughly three decades before Ivanhoe and Gécamines undertook its rehabilitation.
Ivanhoe also reported progress on the second tailings storage facility, which is now over 90% complete, with the first tailings deposit expected from October 2026. The new facility, including its 2B paddock extension and the existing TSF, is designed to be compliant with the Global Industry Standard on Tailings Management.
Ivanhoe Mines shares gained 2.8% on the announcement, taking the company's market capitalisation to approximately C$18.2 billion (about US$13.1 billion).
