Ivanhoe Mines (TSE:IVN) has released an update.
Ivanhoe Mines reported a profitable year in 2023, with a record $303 million in profits, $388 million normalized profit, and a significant $604 million in adjusted EBITDA. The Kamoa-Kakula project drove much of this success, achieving record revenues of $2.7 billion and milling 8.54 million tonnes of copper, all while keeping production costs in line with guidance. Looking ahead, the company is on track with its expansion projects, including a Phase 3 concentrator and a smelter set to further reduce carbon emissions upon completion.
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