On May 31, the Kipushi project in the DRC, partly constructed by JCHX Mining, officially commenced ore feeding. By June 16, the first batch of zinc concentrates was produced. Mr. Peter Zhou, Global Executive VP and President of China Region of Ivanhoe Mines Ltd. (“Ivanhoe Mines”), sent a congratulatory letter to Mr. Wang Qinghai, Chairman of JCHX Mining, expressing his gratitude to JCHX for its significant contributions and outstanding performance.

The Kipushi Mine, situated near Kipushi town in the southwestern Haut-Katanga Province of the DRC, bordering Zambia, has a mining history dating back to 1924. In 2023, Kinsenda Mining Limited, subsidiary of JCHX in the DRC, was awarded with the contract for the development and mining project of the Kipushi Zinc-Copper Mine, with the scope of work including UG development and production from 1200mL to 1590mL.

JCHX attached great importance to the project implementation, conducting comprehensive research on construction plans and process flows, and optimizing production organization. UG works were meticulously planned and executed in a safe, efficient, and fully mechanized manner, with the goal of quickly ramp up to the stable production of 800,000 tpa. On December 7, 2023, the project achieved its first lowerhand LH stope blasting since 1996, with the actual blasting parameters surpassing the design.

In the letter, Mr. Zhou emphasized that the JCHX team's excellent performance and selfless dedication have enabled the achievement being delivered substantially ahead of schedule and on-budget upon the construction and commissioning of Kipushi concentrator. Kipushi will be one of the world's leading producers of high-grade, low-emissions zinc. These are undoubtedly significant milestones for Ivanhoe Mines and the Democratic Republic of Congo, and both JCHX and Ivanhoe Mines should celebrate together. During the implementation of the project, even though there were many challenges such as complex site conditions and tight construction schedules, the JCHX team always maintained a high level of professionalism and excellent execution, ensuring not only the smooth progress of the project but also outstanding performance in terms of quality and safety. The team members, with their tenacious spirit, successfully overcame the differences from different cultures and standards, as well as various difficulties and challenges. Their efforts made the project achieve a major milestone while ensuring safety, high quality, and completion months ahead of budget. Ivanhoe Mines looks forward to continuing to work with JCHX on future projects and achieving further success.

The Kipushi project is the fifth project in the DRC that JCHX provides contract mining services at. It also marks the deepened cooperation between and mutual development of JCHX and Ivanhoe Mines, following the Kamoa-Kakula Copper Mine and the San Matias Copper-Gold-Silver Mine. The letter marks not only Ivanhoe’s recognition of the efficient and consistent progress of the Kipushi project, but a motivation for the project team to aim higher and make more progresses. Leveraging over 20 years of experience in the global mining market, JCHX is committed to fully playing its strength in safe production, efficient management, technological innovation, and mechanized & standardized construction, to rejuvenate the Kipushi Zinc-Copper Mine and unlock its vast potential.