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IVANHOE MINES NEW HORIZONS November 15 , 2021 Ivanhoe Mines issues Q3 2021 financial results and review of operations , mine construction and exploration progress Ivanhoe Mines records a profit of $ 85.4 million in Q3 Kamoa - Kakula Copper Mine achieved Phase 1 commercial production on July 1 , 2021 More than 77,500 tonnes of copper produced year - to - date ; copper production guidance for 2021 raised to 92,500 to 100,000 tonnes Kamoa - Kakula sold 41,490 tonnes of payable copper and recognized revenue of $ 342.6 million in Q3 , with an inaugural operating profit of $ 209.7 million and EBITDA of $ 233.2 million Kamoa - Kakula's Phase 2 expansion to begin operations in Q2 2022 , doubling the mine's projected annual copper production to approximately 400,000 tonnes Excellent progress on all - weather road and geophysical surveys on Ivanhoe's Western Foreland exploration project Extensive drilling program on Western Foreland to continue in 2022 Development of the world - scale Platreef palladium , rhodium , platinum , nickel , copper and gold project in South Africa making rapid progress ; first production expected in 2024 TORONTO , CANADA - Ivanhoe Mines ( TSX : IVN ; OTCQX : IVPAF ) today announced its financial results for the three and nine months ended September 30 , 2021. This quarter marks the first quarter of commercial production at the company's Kamoa - Kakula Copper joint - venture in the Democratic Republic of Congo ( DRC ) . Ivanhoe Mines also is advancing development of the Platreef palladium - rhodium platinum - nickel - copper - gold discovery in South Africa , which is scheduled to begin