Ivanhoe Mines Ltd. (IVN) Earnings Call Transcripts
Ivanhoe Mines Ltd.'s Latest Earnings Call - March 31, 2026
In the first quarter of fiscal 2026, Ivanhoe Mines Ltd. reported a significant update regarding its Kamoa-Kakula copper mine, with a revised production forecast that reflects a 20% decrease for 2026 and 2027 due to redevelopment efforts. Revenue and earnings figures were not disclosed, but management emphasized a focus on restoring production levels to over 500,000 tonnes annually by 2028. The company maintained its capital guidance while adjusting cash cost expectations upward by 10% to 20% for the next two years, driven by lower production forecasts and increased operational costs.
Reported metrics
| Metric | Value |
|---|---|
| 2026 Production Guidance | 290,000 to 330,000 tonnes (negative) |
| 2026 Cash Cost Guidance | $2.60 to $3.00 per pound (negative) |
| Long-Term Production Target | 500,000 tonnes (positive) |
| Smelter Capacity Utilization | 60% above capacity (positive) |
| Mineral Reserve Grade Change | decreased (negative) |
| Capital Guidance | unchanged (inline) |
Guidance from management
Management has maintained its capital guidance while adjusting production forecasts and cash cost expectations upward for 2026 and 2027. The focus remains on optimizing operations to achieve long-term production goals of over 500,000 tonnes annually by 2028.
What management said
Thank you, Alex. As mentioned, we will be doing a question-and-answer session. We will first go to the phone lines. So covering analysts, you are able to submit your questions via the operator on the phone lines. If anyone has any questions that are not addressed during the call, please do reach out to our IR team, and we can go back to you and answer those. We are also running Q&A sessions after the end of this webi...
Okay. Thank you, operator. So if there are no other questions on the line, we will conclude the call. As mentioned, if you do have questions and you wish to follow up with the company, then please contact the IR team at Ivanhoe Mines. So with that, I will now end the meeting. So thank you, everyone, for attending our webinar. Thank you, everyone at the company, and we wish you a lovely evening. Thank you very much.
What analysts pressed on
Analysts expressed concerns regarding the impact of the revised production forecast on cash flows and overall profitability. Questions were raised about the adequacy of the dewatering and rehabilitation efforts at the Kakula mine and how these would affect future production timelines.
Main topics on the call
- Production Forecast Adjustment — Management revised the copper production forecast for 2026 to between 290,000 and 330,000 tonnes, down from previous expectations. CEO Marna Cloete stated, "This year is moving to 290,000 to 330,000 tonnes of copper anod...
- Cash Cost Guidance Increase — The cash cost guidance for 2026 has been raised to $2.60 to $3.00 per pound, reflecting a 10% to 20% increase from prior estimates. Alex Pickard noted, "The biggest driver here is the lower production forecast and the lo...
- Long-Term Production Goals — Management reiterated a long-term goal of achieving over 500,000 tonnes of copper production annually by 2028. Robert Friedland emphasized, "We see extraordinary value... what's going to happen in the Western Forelands,"...
- Kamoa-Kakula Mine Redevelopment — The company is undergoing a significant redevelopment of the Kakula mine, which includes new geotechnical assessments and mine design changes. Simon Bottoms stated, "We see this as a positive because overall, it increase...
Read the full Ivanhoe Mines Ltd. transcript (March 31, 2026) → Summary generated from the call transcript; every figure above is stated by management on the record.
About Ivanhoe Mines Ltd.
Ivanhoe Mines Ltd. (IVN) is a publicly listed company in the Metals and Mining industry, within the Materials sector. It trades on TSX and is based in CA. EarningsCalls.dev maintains a free, full-text archive of its earnings call transcripts — 26 calls on record spanning September 10, 2020 to July 30, 2026. Every transcript is split into speaker-by-speaker segments with headline metrics, free to read or available through our REST API.
Earnings Call History
EarningsCalls.dev has 26 Ivanhoe Mines Ltd. earnings call transcripts on record, spanning September 10, 2020 to July 30, 2026. Based on this history, Ivanhoe Mines Ltd. reports quarterly. The most recent call on file is dated July 30, 2026. The full list is below — each row opens the complete, free-to-read transcript.
- Ticker
- IVN
- Exchange
- TSX
- Country
- CA
- Sector
- Materials
- Industry
- Metals and Mining
- Calls on record
- 26
- First call
- September 10, 2020
- Most recent
- July 30, 2026
- Reporting cadence
- quarterly