Ivanhoe Mines’ recently conducted independent integrated development plan has yielded positive results for the company’s Kamoa-Kakula copper mine, located in the Democratic Republic of Congo. It includes a pre-feasibility study, zoning in on the phase three and phase four expansions of the copper mine that will increase the mine life to 33 years, and an updated preliminary economic assessment that features a potential extension to the mine’s life, increasing it to 42 years.

The pre-feasibility study indicates an increased production output of 7.6 million tonnes to 19.2 million tonnes per annum (Mtpa) by 2030.

The mine’s third phase expansion is expected to be completed in 2024 and will see its annual copper output increase to 620,000 tonnes over roughly 10 years. It will include the replacement of Turbine #5 at the Inga II power station, which will provide an extra 178 megawatts of hydroelectric power to the national grid as well as provide power for phase three, which Ivanhoe said will initiate a positive step towards shifting the mine to cleaner power sources amidst the global energy transition. It will also include the construction of a direct-to-blister flash smelter, which is expected to reduce pressure on the mine’s operating costs along with environmental advantages.

Remaining capital costs to complete the phase three expansion is estimated at US$3 billion. Ivanhoe expects to cover the majority of that cost from copper produced during the mine’s phase one and two operations as a result of current elevated copper prices.

Related: Kamoa-Kakula is well on its way to making Ivanhoe Mines one of the biggest copper producers in the world

The fourth phase of the expansion project will feature the installation of another 5.0 Mtpa concentrator which will ramp up the production rate to 19.2 Mtpa over the course of 33 years, with the potential to extend for this another nine years, and includes the addition of four underground mines in the Kamoa area.

"Ivanhoe Mines is ready to take the next step in becoming the world's next major, diversified mining company … and Kamoa-Kakula will become the model for future mines as we embark on the next generation of tier-one developments at our Platreef and Kipushi projects,” said Robert Friedland, executive co-chairman of Ivanhoe Mines.

The project’s 42 years life-of-mine extension case would see Kamoa-Kakula’s value reach US$20.2 billion with an after-tax net present value of eight per cent.

After these extensions are completed, Kamoa-Kakula is expected to be the world’s fourth largest copper producer with the lowest-quartile cash costs by 2025.