Ivanhoe’s giant Makoko copper find gets 30% bigger
Original announcement by miningcom on
- Company
- Ivanhoe Mines
- Ticker
- IVN
- Exchange
- Unavailable
- Region
- Democratic Republic of Congo
- Primary commodity
- Copper
- Secondary commodities
- None reported
- Document categories
- Resource update
- Extracted
- 2026-09-12 00:53:35 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
Ivanhoe Mines has expanded its Makoko copper discovery by 30%, reaching approximately 12 million tonnes of contained copper. The updated resource includes 42 million tonnes of indicated resources at 2.66% copper and 612 million tonnes of inferred resources at 1.8% copper.
Reasoning: The resource estimate shows substantial growth in contained copper and maintains high grades for the indicated category.
Positive factors
- Significant tonnage growth (30%)
- High-grade indicated resource (2.66% Cu)
- Large scale of contained metal (12 Mt Cu)
- Expansion of resource footprint
Facts used in scoring: 2
Classification and evidence
Tonnage Growthpositive
Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved.
Why it applies: The discovery expanded by 30% from its 2025 estimate.
Evidence · text
“expanding the giant discovery by 30% from its 2025 estimate”
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: The report explicitly states 42 million tonnes of indicated resources.
Evidence · text
“holds 42 million tonnes of indicated resources”
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The report explicitly states 612 million tonnes of inferred resources.
Evidence · text
“612 million tonnes of inferred resources”
Extracted facts
Stored fact records: 2. Some facts used in scoring do not have a stored record.
Resource Estimates (2)
indicatedMakoko · copperTonnes: 42000000Grade: 2.66Grade Unit: %Contained Metal: 1117200Contained Unit: tView all detailsHide details
Identity
- Project
- Makoko
- Commodity
- copper
- Region
- drc
- Reported Region
- Democratic Republic of Congo
- Ticker
- IVN
Resource scope
- Estimate type
- resource
- Resource group id
- resource:cc10d924e22bc652959b
- Mining method
- underground
Resource Data
- Category
- indicated
- Tonnes
- 42000000
- Grade
- 2.66
- Grade Unit
- %
- Contained Metal
- 1117200
- Contained Unit
- t
Prior Estimate
- Resource Date
- 2025-01-01
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-08T00:00:00.000Z
Reasoning: 2.66% Cu is a very strong grade for an indicated resource.
Positive factors
- High grade for indicated category
Evidence · text
“42 million tonnes of indicated resources grading 2.66% copper”
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredMakoko · copperTonnes: 612000000Grade: 1.8Grade Unit: %Contained Metal: 10992000Contained Unit: tView all detailsHide details
Identity
- Project
- Makoko
- Commodity
- copper
- Region
- drc
- Reported Region
- Democratic Republic of Congo
- Ticker
- IVN
Resource scope
- Estimate type
- resource
- Resource group id
- resource:656a99d0608c60ad6aa6
- Mining method
- underground
Resource Data
- Category
- inferred
- Tonnes
- 612000000
- Grade
- 1.8
- Grade Unit
- %
- Contained Metal
- 10992000
- Contained Unit
- t
Prior Estimate
- Resource Date
- 2025-01-01
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-08T00:00:00.000Z
Reasoning: Large scale resource provides significant upside potential.
Positive factors
- Massive scale of inferred resource
Negative factors
- Inferred category carries lower geological confidence
Evidence · text
“612 million tonnes of inferred resources grading 1.8% copper”
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: no Qualified or Competent Person is named anywhere in the release
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.