By Penny Langford
KIPUSHI, DEMOCRATIC REPUBLIC OF THE CONGO : Ivanhoe Mines (TSX: IVN; OTCQX: IVPAF) has announced a significant operational milestone at the historic Kipushi zinc-copper-germanium-silver mine. In May 2026, the operation produced a record 25,677 tonnes of zinc in concentrate, marking a 12% increase over its previous monthly high set in January.
The surge in output comes as the global zinc market experiences a period of heightened volatility and pricing strength, with the metal trading near four-year highs. The performance at Kipushi, a joint venture between Ivanhoe Mines (62%) and the DRC’s state-owned miner Gécamines (38%), firmly positions the site to become the world’s fourth-largest zinc producer by the end of the year.
The Metrics of May: Efficiency at Scale
The record-breaking May production was driven by exceptional plant performance and high-grade ore feed. During the month, the Kipushi concentrator milled 72,003 tonnes of ore at an average feed grade of 36.2% zinc.
Operational efficiency remained high, with the facility achieving a 93% recovery rate. This level of throughput and recovery indicates that the recent debottlenecking program: which increased the concentrator’s capacity by 20% to 960,000 tonnes of ore per annum: is yielding the intended results.
The Kipushi headframe and surface infrastructure have undergone extensive rehabilitation to support high-volume extraction.
Ivanhoe Mines’ Founder and Executive Co-Chairman Robert Friedland noted in a statement that the Kipushi team is "continuing to rewrite the history of this legendary mine." The current annualized run-rate based on May’s performance is approximately 308,000 tonnes of zinc, which exceeds the midpoint of the company's 2026 production guidance.
2026 Outlook and Market Impact
With May’s figures accounted for, year-to-date production at Kipushi stands at approximately 110,000 tonnes of zinc in concentrate. The company remains on track to meet its full-year 2026 guidance of 240,000 to 290,000 tonnes.
The timing of Kipushi’s ramp-up is critical for the global zinc market. As of early June 2026, zinc prices on the London Metal Exchange (LME) are trading around US$3,630 per tonne. This price level, last seen in mid-2022, reflects a tightening market for high-grade concentrates despite broader analysts' projections of a global surplus earlier in the year.
| Metric | May 2026 Performance | 2026 FY Guidance (Total) |
|---|---|---|
| Zinc Concentrate Produced | 25,677 tonnes | 240,000 – 290,000 tonnes |
| Ore Milled | 72,003 tonnes | N/A |
| Average Feed Grade | 36.2% Zinc | ~35.0% (Average) |
| Recovery Rate | 93.0% | N/A |
| Implied Annualized Rate | 308,000 tonnes | N/A |
Infrastructure and Strategic Partnership
The rebirth of Kipushi is not merely an operational success but also an infrastructure achievement. The mine, which had been idle for nearly two decades before Ivanhoe’s involvement in 2011, has seen a complete overhaul of its underground workings and surface facilities.
Currently, the construction of a new, state-of-the-art tailings storage facility is approximately 90% complete. This infrastructure is vital for maintaining the long-term environmental and operational sustainability of the mine as it moves toward full-scale production.
The partnership with Gécamines has been instrumental in navigating the complex regulatory and logistical landscape of the DRC. By integrating the state miner into the operational success of the project, Ivanhoe ensures that the benefits of the world's highest-grade zinc mine are shared with the Congolese state.
Managing the Ramp-Up
Overseeing a production surge of this scale requires advanced monitoring and logistics. The Kipushi control room integrates real-time data from both the underground Big Zinc orebody and the surface concentrator to optimize throughput.
Digital integration and real-time monitoring are core to Kipushi's ability to maintain high recovery rates at peak throughput.
Future Exploration and Zinc Dominance
Beyond the immediate production records, Ivanhoe is also eyeing future growth. The Kipushi deposit remains open at depth and along strike, providing significant potential for mine life extension. Furthermore, the presence of high-grade germanium and silver in the ore adds a valuable byproduct component to the mine's economic profile, although zinc remains the primary focus.
As Kipushi moves closer to its target of becoming the world's fourth-largest zinc mine, it joins Ivanhoe's other Tier-One assets in the region, including the Kamoa-Kakula Copper Complex, in cementing the Central African Copperbelt's role as a global powerhouse for the energy transition.
For more insights on the metals driving the 2026 market, read our recent analysis on the silver price prediction for 2026 and how industrial demand is shifting global commodity benchmarks.
Social Media Snippet (LinkedIn/X)
Kipushi Zinc Reborn! ?? Ivanhoe Mines has just announced a massive monthly production record for May 2026 at its Kipushi operation in the DRC.
? The Numbers:
- 25,677 tonnes of zinc in concentrate (a new record)
- 93% recovery rate on 36.2% zinc feed grade
- YTD production hits ~110,000 tonnes
With zinc prices near 4-year highs, Kipushi is on track to become the world's 4th largest producer this year. Read the full operational breakdown here: [Link] #MiningNews #Zinc #IvanhoeMines #DRC #Commodities #EnergyTransition
