Seismic activity forces shutdown of Ivanhoe's Kakula underground mine
Ivanhoe Mines temporarily suspended underground operations at its Kakula copper mine in the DRC after seismic activity, evacuating staff and cutting concentrator throughput.
Ivanhoe Mines temporarily suspended underground operations at its Kakula copper mine in the DRC after seismic activity, evacuating staff and cutting concentrator throughput.
Ivanhoe Mines shares jumped as much as 12% after record first-quarter revenue of $973m, with Kamoa-Kakula copper output rising to near-record levels ahead of April's disruption.
Ivanhoe Mines began commissioning Kamoa-Kakula's new copper smelter after imported hydroelectric power rose 40% to 70MW, calling it a turning point for the DRC complex.
Ivanhoe Mines said its Makoko copper deposit in the DRC's Western Forelands has grown by 20% in strike length, with a new high-grade discovery at nearby Kitoko.
Ivanhoe Mines reported a $193m annual profit and record copper output at Kamoa-Kakula for 2024, though a backup-power fire and an aggressive platinum expansion plan clouded the outlook.