Ivanhoe Mines (IVN) Financials
TSX: IVN · Copper, Zinc, Germanium · Production stage
- Market cap$12.67B
- Share price$8.88
- 52-week range$8.88 – $20.34
- Shares outstanding1,426,460,924
- ExchangeTSX
- Websitewww.ivanhoemines.com
Ivanhoe Mines is a Canadian mining company focused on advancing its three principal operations in Southern Africa; the Kamoa-Kakula Copper Complex in the DRC, the ultra-high-grade Kipushi zinc-copper-germanium-silver mine, also in the DRC; and the tier-one Platreef platinum-palladium-nickel-rhodium-gold-copper mine in South Africa. Ivanhoe Mines is exploring for copper in its highly prospective, 54-100% owned exploration licences in the Western Forelands, covering an area over six times larger than the adjacent Kamoa-Kakula Copper Complex, including the high-grade discoveries in the Makoko District. Ivanhoe is also exploring for new sedimentary copper discoveries in new horizons including Angola, Kazakhstan, and Zambia.
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Ivanhoe Mines financial statements
Key figures read from 37 of 37 financial statement filings, Nov 10, 2016 to Nov 3, 2026. Each column is the period as the company first filed it.
Balance sheet: annual key figures
US dollars (US$), in thousands, figures as printed in the statements. Losses and cash outflows are in brackets.
| Dec 2025 | Dec 2024 | Dec 2023 | Jan 2023 | Dec 2022 | |
|---|---|---|---|---|---|
| Cash and equivalents | US$784,538 | US$117,343 | US$574,294 | US$597,451 | US$597,451 |
| Total current assets | US$1,135,129 | US$298,638 | US$648,833 | US$662,663 | US$662,663 |
| Total current liabilities | US$508,749 | US$238,557 | US$197,783 | US$750,831 | US$67,241 |
| Working capital | US$626,380 | US$60,081 | US$451,050 | (US$88,168) | US$595,422 |
| Exploration and evaluation assets | US$279,712 | US$291,283 | US$270,618 | US$264,995 | US$264,995 |
| Property, plant and equipment | US$2,162,994 | US$1,670,841 | US$1,146,354 | US$630,295 | US$630,295 |
| Total assets | US$7,625,844 | US$5,737,555 | US$5,000,261 | US$3,969,285 | US$3,969,285 |
| Debt | US$497,023 | US$358,431 | US$942,542 | US$727,446 | US$727,446 |
| Total liabilities | US$1,900,748 | US$901,914 | US$1,419,315 | US$1,128,154 | US$1,128,154 |
| Shareholders' equity | US$5,725,096 | US$4,835,641 | US$3,580,946 | US$2,841,131 | US$2,841,131 |
Income statement: annual key figures
US dollars (US$), in thousands, figures as printed in the statements. Losses and cash outflows are in brackets.
| FY Dec 2025 | FY Dec 2024 | FY Dec 2023 | FY Dec 2022 | FY Dec 2021 | |
|---|---|---|---|---|---|
| Revenue | US$441,615 | US$40,818 | — | — | — |
| Cost of sales | (US$424,657) | (US$51,563) | — | — | — |
| Exploration and evaluation expense | (US$47,776) | (US$48,148) | (US$22,657) | (US$33,912) | (US$52,171) |
| General and administrative | (US$17,885) | (US$56,582) | — | — | — |
| Share-based compensation | (US$18,383) | (US$27,919) | (US$29,269) | (US$27,216) | (US$20,002) |
| Impairments and write-downs | — | — | US$0 | US$4,555 | — |
| Net income (loss) | US$227,990 | US$193,294 | (US$12,482) | (US$1,226) | US$45,312 |
Cash flow statement: annual key figures
US dollars (US$), in thousands, figures as printed in the statements. Losses and cash outflows are in brackets.
| FY Dec 2025 | FY Dec 2024 | FY Dec 2023 | FY Dec 2022 | FY Dec 2021 | |
|---|---|---|---|---|---|
| Operating cash flow | (US$127,453) | (US$152,432) | (US$31,566) | US$177,086 | (US$7,090) |
| Investing cash flow | (US$665,721) | (US$495,405) | (US$476,998) | (US$173,634) | (US$208,581) |
| Financing cash flow | US$1,419,969 | US$206,946 | US$500,270 | (US$9,690) | US$561,968 |
| Exploration spending (capitalized) | (US$4,073) | (US$34,050) | (US$5,350) | — | — |
| Property, plant and equipment spending | (US$340,878) | (US$457,785) | (US$477,896) | (US$158,772) | (US$52,324) |
| Proceeds from share issues | US$564,521 | US$0 | US$429,704 | — | — |
| Cash at end of period | US$784,538 | US$117,343 | US$574,294 | US$597,451 | US$608,176 |
Ivanhoe Mines financings
3 financings announced or closed by Ivanhoe Mines, read by Mining News Terminal, newest first.
| Date | Company | Type | Stage | Amount | Unit price | Release |
|---|---|---|---|---|---|---|
| 2025-09-17 | Ivanhoe Mines (IVN) | Private placement | Closed, 1 tranche | US$500.0M | $12.00 | Ivanhoe Mines announces US$500 million strategic private placement with Qatar Investment Authority (QIA) DOHA, QATAR – Ivanhoe Mines’ (TSX: IVN; OTCQX: IVPAF) Executive Co-Chair Robert Friedland and President and Chief Executive Officer Marna Cloete announce |
| 2025-01-16 | Ivanhoe Mines (IVN) | Debt | Closed, 1 tranche | US$750.0M | — | Ivanhoe Mines prices an offering of US$750,000,000 Senior Notes due 2030 |
| 2025-01-10 | Ivanhoe Mines (IVN) | Debt | Announced | US$600.0M | — | Ivanhoe Mines launches an offering of US$600,000,000 Senior Notes due 2030 |