Management is working to stabilize energy sources and expects smoother operations in 2025. Ivanhoe installed 220 megawatts of diesel backup. It aims to finish grid stabilization projects by mid-2025. It also plans to introduce solar power with battery storage within the next 18 months to complement hydropower.
“We’ve broken the back of the power problem, but some solutions will take longer to reach full capacity,” said COO Mark Farren on an investor conference call Wednesday. “We’re not only fixing grid issues but securing long-term power solutions.”
The disruptions wiped 36,500 tonnes of production this year. But, record copper output of 116,000 tonnes in the three months ended September brought in $828 million. Adjusted profit was $134 million, up from $104 million a year ago.
This was despite delays from 16,000 tonnes of unsold inventory awaiting processing by external smelters. Chief financial…
