According to Ivanhoe Minerals, Robert Friedland, Co-Chairman of Ivanhoe Minerals (TSX: IVN) (OTCQX: IVPAF), Weibao Hao, Co-Chairman, and Marna Cloete, President and CEO, are pleased to announce that the 500,000 tonnes/year one-step copper smelter at Kamoa-Kakula will be officially ignited on November 21, 2025. The ignition ceremony will be conducted on-site at the smelter, with a blessing ceremony presided over by the local chief of Kamoa-Kakula, in accordance with tradition. Robert Freeland, Founder and Co-Chairman of Ivanhoe Mines, addressed the opening ceremony: “Today’s celebration is not just a ceremony, but a symbol of the passing of the torch of transformation at the Kamoa-Kakula mine. From the first discovery of high-grade copper resources in 2008 to today’s sacred traditional torch lighting of the furnace, the Kamoa-Kakula copper smelter will set a new standard for the global copper smelting industry.” “Today, we witness a major milestone for Kamoa-Kakula, Lualaba Province, and the entire DRC mining industry, taking a significant step forward in the production of sustainable, clean copper products in the Democratic Republic of Congo.” Annebel Oosthuizen, Managing Director of Kamoa-Kakula, commented at the opening ceremony: “Today’s success belongs to every employee of Kamoa Copper. This is a glorious achievement we have created together. The flame lit today will illuminate the future, leading Kamoa Copper, our operating communities, the country, and the entire African continent toward a bright future.” 01 Blessing and Lighting Ceremony Following a traditional blessing ceremony presided over by the local community chief, a ignition ceremony was held at the smelter site. On November 21, 2025, the Kamoa-Kakula Copper Smelter officially held its ignition ceremony. According to custom, the fire was started in the traditional lwanzo lwa mikuba copper furnace prepared by local Chief Muvunda and his team to refine commemorative Katanga cross copper ingots. The blessing ceremony was presided over by the revered Chief Musokantanda Sabuni Kafweku. After lighting the lwanzo lwa mikuba furnace, Chief Musokantanda brought the torch to the Kamoa-Kakula Smelter, where it was lit by Robert Freeland, founder and co-chairman of Ivanhoe Mines. The torch was then passed between the senior management teams of Ivanhoe Mines and Kamoa Copper, as well as the smelter construction team, before being thrown into the furnace to ignite and heat the furnace. Kamoa Copper employees attended the smelter's ignition ceremony. The opening ceremony was held on the grounds outside the smelter's casting workshop. It is expected that production of 99.7% pure copper anodes will begin by the end of the year. The 500,000-ton/year one-step copper smelter at the Kamoa-Kakula mine officially started furnace preparation on November 21, 2025, and is expected to begin feeding its first batch of copper concentrate before the end of the year. Kamoa-Kakula management anticipates that the smelter at the mine will prioritize processing all concentrates produced by the Phase I, II, and III beneficiation plants, with the remaining copper concentrates being transported to the nearby Kolwezi-Lualaba copper smelter for further processing. Before production began, the Kamoa-Kakula site had approximately 37,000 tons of copper inventory. As the smelter ramps up production, it is expected that by 2026, total copper inventory (including smelter concentrate inventory, copper for sale, and copper in the smelting process) will decrease to approximately 17,000 tons. The installation of the uninterruptible power supply (UPS) system is nearing completion, and the smelter has begun furnace preparation. A 60 MW UPS system will provide the smelter with up to two hours of immediate backup power to ensure its operations are not affected by the instability of the DRC power grid. In addition to the UPS system, a dedicated 180 MW diesel generator unit has also been installed at the Kamoa-Kakula mine site. The smelter's furnace ignition and baking process is progressing smoothly, with the furnace temperature already reaching 800 degrees Celsius. Over the next nine days, the furnace temperature will be maintained at 800 degrees Celsius, while the boiler, steam system, and concentrate dryer will undergo commissioning with load, and the furnace electrode energization and acid production processes will also be tested. Once the smelter reaches full production capacity, it will become the largest copper smelter in Africa.