Category: 3. Business

Initial 50 megawatts received at Kamoa-Kakula; expected to increase to 100 megawatts by Q1 2026 as grid improvements are completed, and 150 megawatts by 2027

Over 10 years of partnership between Ivanhoe Mines and Société Nationale d’Electricité (SNEL) in the refurbishment of 250 megawatts of renewable, hydropower capacity

Kolwezi, Democratic Republic of the Congo–(Newsfile Corp. – November 25, 2025) – Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) Executive Co-Chair Robert Friedland and President and Chief Executive Officer Marna Cloete are delighted to announce that the first 50 megawatts (MW) of clean, hydroelectric power from the newly refurbished 178-MW Turbine #5 at the Inga II dam is now being received at the Kamoa-Kakula Copper Complex. The feed of hydroelectric power, from Inga II to Kamoa Kakula, is expected to increase to 100 MW in Q1 2026 and then increase to 150 MW as grid improvements are completed.

Watch the video summarizing over 10 years of partnership with the DRC state utility, SNEL, in refurbishment and return to operation of 250 MW of clean, hydropower capacity: https://vimeo.com/1140019977/45383e1c1d?fl=pl&fe=sh

Initial 50 megawatts of clean, hydropower delivered to Kamoa-Kakula from newly refurbished 178-megawatt Turbine #5 at Inga II

Installation of replacement mechanical and electrical equipment at Turbine #5 at the Inga II hydroelectric facility was completed in Q3 2025, followed by synchronization and energization of Turbine #5 in early Q4 2025. The newly refurbished Turbine #5 has since ramped up to full capacity, delivering approximately 180 MW of clean, hydroelectric power into the DRC grid. Of the 180 MW being delivered into the grid, Kamoa-Kakula is currently receiving an initial 50 MW, bringing its total domestically sourced power to approximately 110 MW, as shown in Table 1. Hydroelectric power delivery to Kamoa-Kakula, from Turbine #5, is expected to increase to 100 MW in Q1 2026 and to 150 MW thereafter as grid upgrades are completed.

The grid improvement initiatives primarily focus on upgrades to substations at Inga (SCI) and Kolwezi (SCK). The first upgrade, consisting of resistor banks at the Inga substation, was completed in May 2025. Corresponding resistor upgrades at the Kolwezi substation are expected to be completed imminently, improving voltage stability to Kamoa-Kakula. In addition, the static compensator at the Kolwezi substation is scheduled to be completed in early Q1 2026, increasing the power delivery from Inga II to the Kamoa-Kakula up to 100 MW. The remaining workstreams to upgrade the filter banks at SCI and SCK will occur in phases over the next 18 months, ultimately increasing the total power received from Turbine #5 to 150 MW during H1 2027. As shown in Figure 1, by the end of 2027, total domestically-sourced, renewable grid-supplied power is expected to be approximately 210 MW.

Table 1. Kamoa-Kakula’s projected power supply and demand balance from 2025 to 2028.

		Dec 25	Dec 26	Dec 27	Dec 28
TOTAL POWER DEMAND	MW	208	271	292	347
SNEL (national grid)	MW	110	180	210	210
Third-party purchases (Imports)	MW	100	100	100	100
On-site solar	MW	–	60	60	60
TOTAL SUPPLIED POWER	MW	210	340	370	370
On-site backup generators	MW	178	214	214	214

 

Representatives from DRC state-owned power utility, Société Nationale d’Electricité (SNEL), engineering and construction contractors Gruner Stucky AG and VOITH, and Kamoa Copper, standing on top of the recently refurbished Turbine #5, inside the turbine hall at the Inga II hydroelectric facility.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3396/275861_ivanhoe2en.jpg

(L-R) Kasper Badenhorst, Kamoa Copper, Construction Manager, and Papy Enona, Mechanical Engineer, Gruner Stucky AG, reviewing commissioning plans during the commissioning of Turbine #5

Qualified Persons

Disclosures of a scientific or technical nature at the Kamoa-Kakula Copper Complex in this news release have been reviewed and approved by Steve Amos, who is considered, by virtue of his education, experience, and professional association, a Qualified Person under the terms of NI 43-101. Mr. Amos is not considered independent under NI 43-101 as he is Ivanhoe Mines’ Executive Vice President, Projects. Mr. Amos has verified the technical data disclosed in this news release.

Ivanhoe has prepared independent, NI 43-101-compliant technical report for the Kamoa-Kakula Copper Complex, which is available on the company’s website and under the company’s SEDAR+ profile at www.sedarplus.ca:

• Kamoa-Kakula Integrated Development Plan 2023 Technical Report dated March 6, 2023, prepared by OreWin Pty Ltd.; China Nerin Engineering Co. Ltd.; DRA Global; Epoch Resources; Golder Associates Africa; Metso Outotec Oyj; Paterson and Cooke; SRK Consulting Ltd.; and The MSA Group.

The technical reports includes relevant information regarding the assumptions, parameters, and methods of the mineral resource estimates on the power demand balance at the Kamoa-Kakula Copper Complex cited in this news release, as well as information regarding data verification, exploration procedures, and other matters relevant to the scientific and technical disclosure contained in this news release.

About Ivanhoe Mines

Ivanhoe Mines is a Canadian mining company focused on advancing its three principal operations in Southern Africa; the Kamoa-Kakula Copper Complex in the DRC, the ultra-high-grade Kipushi zinc-copper-germanium-silver mine, also in the DRC; and the tier-one Platreef platinum-palladium-nickel-rhodium-gold-copper mine in South Africa.

Ivanhoe Mines is exploring for copper in its highly prospective, 54-100% owned exploration licences in the Western Forelands, covering an area over six times larger than the adjacent Kamoa-Kakula Copper Complex, including the high-grade discoveries in the Makoko District. Ivanhoe is also exploring for new sedimentary copper discoveries in new horizons, including Angola, Kazakhstan, and Zambia.

Information contact

Follow Robert Friedland (@robert_ivanhoe) and Ivanhoe Mines (@IvanhoeMines_) on X.

Forward-looking statements

Certain statements in this release constitute “forward-looking statements” or “forward-looking information” within the meaning of applicable securities laws. Such statements and information involve known and unknown risks, uncertainties, and other factors that may cause the actual results, performance, or achievements of the company, its projects, or industry results, to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified using words such as “may”, “would”, “could”, “will”, “intend”, “expect”, “believe”, “plan”, “anticipate”, “estimate”, “scheduled”, “forecast”, “predict” and other similar terminology, or state that certain actions, events, or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. These statements reflect the company’s current expectations regarding future events, performance, and results and speak only as of the date of this release.

Such statements include, without limitation: (i) statements that hydroelectric power delivery from Turbine #5 is expected to increase to 100 MW in Q1 2026 and to 150 MW, by end of 2027, as grid upgrades are completed; and (ii) statements with respect to Kamoa-Kakula’s projected power supply and demand balance from 2025 to 2028 as set out in Table 1.

Forward-looking statements and information involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indicators of whether such results will be achieved. Many factors could cause actual results to differ materially from the results discussed in the forward-looking statements or information, including, but not limited to those discussed above and under the “Risk Factors” section in the company’s MD&A for the three and nine months ended September 30, 2025, and its current annual information form, and elsewhere in this news release, as well as unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; changes in the rate of water ingress into underground workings; the continuation of seismic activity; the state of underground infrastructure; delays in securing underground access; changes to the mining methods required in the future; the failure of parties to contracts with the company to perform as agreed; social or labour unrest; changes in commodity prices; and the failure of exploration programs or studies to deliver anticipated results or results that would justify and support continued exploration, studies, development or operations.

Although the forward-looking statements contained in this news release are based upon what management of the company believes are reasonable assumptions, the company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release.

The company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of the factors outlined in the “Risk Factors” section in the company’s MD&A for the three and nine months ended September 30, 2025, and its current annual information form.

The boss of Domino’s Pizza Group who suggested the UK may have reached peak pizza as he expanded the chain into fried chicken has been ousted after tensions with its board.

Andrew Rennie is leaving after just two years at the helm, and will be replaced on an interim basis by the company’s chief operating officer, Nicola Frampton, while Domino’s searches for a new leader.

Rennie, who worked for Domino’s for more than two decades, has sought to shift Britain’s biggest pizza delivery company towards fried chicken, telling the Financial Times earlier this month there was not “massive growth” left in the UK’s pizza market. He said chicken was the fastest-growing protein in the world.

It is understood that there was friction between Rennie and the board over his focus and approach to the business, although Domino’s statement said he was stepping down “by mutual agreement”.

In September, Domino’s launched its Chick ’N’ Dip brand – which Rennie described as a “bold new chapter” for the group – and is trialling it in 210 outlets in the north-west of England and Northern Ireland.

While the company is still going to roll it out across its nearly 1,400 branches next year as planned, it sees fried chicken as complementary to its core pizza business.

Ian Bull, the Domino’s chair, said: “The board believes that there are a number of opportunities to drive further growth and value creation in Domino’s core business. We are focused on identifying the right chief executive to lead the disciplined execution of that growth strategy.”

Earlier this month, Domino’s, which has 13 million customers in the UK and Ireland, said orders dipped by 1.5% in the third quarter. In August, it warned that the takeaway market had “become tougher” as it blamed weaker consumer confidence in the run-up to Wednesday’s budget and rising wage costs for weaker-than-expected sales and a 15% drop in half-year profits.

Other pizza operators are also struggling. Pizza Hut announced the closure of 68 restaurants a month ago, after the company behind its UK venues fell into administration.

Trying to keep up with consumer trends towards healthier eating, Domino’s has launched lower-calorie products, such as its Thin & Crispy range of pizzas below 400 calories as well as plant-based and gluten-free pizzas. A large pepperoni pizza has 2,311 calories. A large cheese and tomato pizza has 2,171, while a small has 909 calories.

skip past newsletter promotion

after newsletter promotion

Frampton has been with Domino’s since 2021, and previously worked for the gambling company William Hill. It is thought that she does not want to take on the chief executive role permanently.

She said: “We have a number of ongoing growth and performance initiatives that we will be focused on executing at pace.”

She said these included further work on the company’s supply chain and product development, and its loyalty scheme.

Domino’s is also without a permanent chief financial officer until 16 March, when Andy Andrea joins from the Irish cider and beer maker C&D Group. Until then, Richard Snow serves as interim finance chief.

ASEAN shall develop friendly relations and mutually beneficial dialogues, cooperation and partnerships with countries and sub-regional, regional and international organisations and institutions. This includes external partners, ASEAN entities, human rights bodies, non-ASEAN Member States Ambassadors to ASEAN, ASEAN committees in third countries and international organisations, as well as international / regional organisations.

The UK could end its reliance on exporting plastic waste by 2030 to support the creation of 5,400 new jobs and take responsibility for the environmental impact of its waste, according to research.

The report said up to 15 new recycling facilities could be built by the end of the decade, attracting more than £800m of private investment. The increase in capacity would help generate almost £900m of economic value every year; providing at least £100m of new tax revenues annually.

The report by Hybrid Economics comes as Britain’s plastic exports rose by 5% in 2024 to nearly 600,000 tonnes of waste.

Exporting plastic creates environmental problems for many countries that receive it, as they do not have the ability to recycle it. It also, the report argues, removes valuable feedstock for a British recycling industry.

Campaigners want the loophole that makes it cheaper to export plastic waste rather than recycle it in the UK, closed.

Exports have soared in the first part of this year to Indonesia in particular – a country struggling with an environmental crisis from plastic pollution – amounting to more than 24,000 tonnes.

The report said that by exporting the unprocessed plastic waste it produces, the UK is evading its responsibility to deal with its own waste and was denying itself an economic opportunity.

The Guardian revealed last month that, in the past two years, 21 plastic recycling and processing factories across the UK have shut down owing to the scale of exports, the cheap price of virgin plastic and an influx of cheap products from Asia.

Neville Hill, partner at Hybrid Economics, which produced the report, said the UK was only using half of its potential for recycling plastic waste. He said: “Ending exports of unprocessed plastic packaging waste by 2030 would allow the UK to take control of its environmental responsibilities and seize a clear economic opportunity.

“Our analysis shows the sector can expand significantly with no call on public funds, provided government sets the right framework.”

The way payments are made up at present incentivises the export of plastic waste, rather than encouraging businesses to keep it in the UK to be recycled.

James McLeary, the managing director of Biffa Polymers, which commissioned the report, said the company had recycled 10bn plastic HDPE milk bottles in the last 20 years. He described this as a circular economy success story.

“The lesson is simple. When the right conditions are in place, UK recycling grows, investment follows and the environmental and economic benefits build year after year. The UK can replicate that success across all plastic packaging and take responsibility for processing its own waste onshore.”

The report is calling for an increase in the plastic packaging tax, which is imposed on producers who fail to include at least 30% of recycled plastic in their products, to 50% and a total phasing out of exports of unprocessed plastic packaging waste.

Dar wa Emaar has appointed Benoy as lead urban designer and commercial strategist for Riyadh East, a SAR 1 billion, mixed-use neighbourhood spanning 116 hectares on the eastern edge of Riyadh. 

The partnership was marked by the signing of a strategic agreement between Dar wa Emaar and Benoy last week at Cityscape Global.

Developed by Benoy’s Commercial Strategy and Masterplanning & Urban Design teams, Riyadh East offers a welcoming new neighbourhood shaped around contemporary living and generous climate-responsive green corridors that bring nature into daily life. Its mix of homes, community facilities, learning spaces, pocket parks and neighbourhood hubs creates a commercially viable, walkable community for families and young professionals alike.

Ruchi Chakravarty, Director, Masterplanning & Urban Design, said: ​“Riyadh East sets a bold new standard for Saudi urbanism, where sustainability and social value lead the design. It represents an ambitious yet grounded vision that elevates Riyadh’s long-term growth and defines the future of high-quality neighbourhoods in the Kingdom.”

Amr Elfeky, Executive Director, Development & Investment at Dar wa Emaar commented: ​“Our partnership with Benoy marks a pivotal step in shaping Riyadh East into a next-generation community. Benoy’s global design expertise, coupled with their deep understanding of how people live and interact with spaces, aligns seamlessly with our vision for a human-centered, future-ready masterplan. Together, we are setting a new benchmark for community development in the Kingdom.”

Strategically positioned along the Riyadh – Dammam corridor, Riyadh East will be anchored by a curated mix of exciting new amenities, all designed to welcome passing visitors and drive commercial investment. 

Andrew McVicker, Director, Commercial Strategy, said: ​“Riyadh East will redefine dynamic, contemporary community living. Our approach ensures a vibrant, multi-use destination designed for long-term economic sustainability and enduring value.”

A continuous green spine forms the ecological and social backbone of the district, promoting active mobility, biodiversity, and climate resilience while uniting the community through a shared landscape. District neighbourhoods are conceived as walkable clusters, each with its own architectural and landscape identity. This mosaic approach supports inclusivity, housing diversity, and flexible, phased growth, allowing the district to evolve with lasting character.

Aligned with the Mostadam framework and the ambitions of Saudi Vision 2030, Benoy’s vision for Riyadh East demonstrates how a commitment to integrated design and commercial insight can deliver a district that is both highly liveable and economically robust.