Ivanhoe Mines at Mining Forum Americas 2026: copper, critical metals

On September 28, 2026, Ivanhoe Mines (IVN) addressed Mining Forum Americas, emphasizing the importance of copper, critical minerals and innovative mining technology. Founder and Chairman Robert Friedland discussed robust performance at the company's African mines, while expressing concern over China's control over Western supply chains for materials like scandium, gallium, and germanium.

Despite these risks, Friedland remains optimistic about Ivanhoe's projects and technology ventures, highlighting the company's strategic position in metals crucial for electrification, defense, and artificial intelligence.

The Kamoa-Kakula copper mine, featuring a $1.3 billion Phase One investment recovered in just 10 months, has generated approximately $7 billion in internal cash flow for expansion. Friedland explained that critical minerals have become strategic assets due to their importance in AI, military systems, and data centers, with China imposing export restrictions that create supply risks for Western nations.

The company highlighted Kamoa-Kakula's low-cost power, including hydroelectric generation and solar energy, with the solar field costing $0.12 to $0.13 per kilowatt-hour, significantly lower than diesel at $0.40 per kilowatt-hour. This power system, utilizing a refurbished hydroelectric dam and a 60-megawatt solar field, has reduced the mine's carbon footprint to the lowest among comparable operations.

In South Africa, Ivanhoe's Platreef project, in development for 28 years, has progressed significantly, with 170 million ounces of precious metals identified and a full production timeline expected within a year and a half. Byproducts from platinum, palladium, rhodium, and gold production are expected to offset costs. The project employs an all-electric fleet, with women comprising 25% of the workforce, and offers social programs for host communities, including schools, hospitals, and education initiatives.

Friedland emphasized the mine's safety and technological advancements, describing it as the "safest place to mine."