08:30 AM EDT, 04/03/2024 (MT Newswires) -- Ivanhoe Mines ( IVPAF ) on Wednesday said first-quarter production from its copper mines in the Democratic Republic of the Congo fell 7.9% due to issues with the country's power grid and lower-grade ores.

The company said its Kamoa-Kakula Copper Complex produced 86,203 tonnes of copper in the period, down from 93,603 tonnes in the year-prior quarter.

Ivanhoe said its production in the quarter was affected by instability in the Congo's power grid and it is working with the state power company, La Societe Nationale d'Electricite, to resolve issues with electricity supply.

"During the first quarter, heavier-than-usual rainfall during the wet season further contributed to grid power intermittency. The rainfall led to elevated water levels in the Congo River, causing debris to block the intakes that feed the Inga hydroelectric dam complex," the company said.

The company said it is expanding its backup generation capacity to ensure a steady power supply, taking steps to boost on-site

generation to 200 megawatts from a current 58 megawatts by the fourth quarter.

Ivanhoe said its mines produced ores with an average copper grade of 4.8% in the quarter, down from 5.4% in the first quarter of 2023.

It reiterated 2024 production guidance of 440,000 to 490,000 tonnes of copper.

Ivanhoe shares closed down C$0.24 to C$16.25 Tuesday on the Toronto Stock Exchange.