Ivanhoe’s giant Makoko copper find gets 30% bigger

Ivanhoe Mines has expanded its Makoko copper discovery in the Democratic Republic of Congo by 30%, increasing the estimate to 12 million tonnes of contained copper. The Canadian miner now holds 42 million tonnes of indicated resources and 612 million tonnes of inferred resources, with further growth anticipated from ongoing drilling.

This substantial resource increase bolsters Ivanhoe's plans to develop what it calls the world's largest and highest-grade copper discovery of the past decade. As copper prices rise and major discoveries dwindle, the importance of Congo as a copper producer grows. Ivanhoe intends to commence a scoping study for Makoko in the first quarter of 2027, alongside expanding drilling to expedite project development.

The company is exploring a combination of shallow open pits and underground mining, potentially reducing capital costs and shortening the path to first production. Ivanhoe has already initiated site preparation, including fencing, road construction, and environmental baseline work. Drawing on its experience with the nearby Kamoa-Kakula copper complex, Ivanhoe aims to accelerate development, having already begun work.

The resource at Makoko could expand further; about 60,000 metres of drilling completed in 2026 was not included in the latest estimate, and mineralization remains open in multiple directions. Ivanhoe's founder, Robert Friedland, highlighted the company's unparalleled track record of copper discovery in the Western Forelands, discovering copper at an exceptional rate of 100 million pounds for every 1,000 meters drilled.

The scale of Makoko provides Ivanhoe with an additional source of long-term copper production in one of the world's most vital copper jurisdictions, addressing the shortage of large, high-grade discoveries needed to meet future demand.