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Ivanhoe restarts part of Congo copper mine; cuts output guidance
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Ivanhoe restarts part of Congo copper mine; cuts output guidance
Jun 11, 2025 9:34 PM

June 12 (Reuters) - Ivanhoe Mines ( IVPAF ) said on

Wednesday it had resumed underground mining in part of its

Kakula copper mine in the Democratic Republic of Congo that had

been closed due to seismic activity, but lowered output guidance

for the year.

Mining on the mine's western side resumed on June 7, while

Ivanhoe will start pumping water out of the eastern side in

August, aiming to finish by the year's fourth quarter. It will

also look to open a new section for mining in the eastern part.

The Kakula mine is part of the giant Kamoa-Kakula copper

mining complex.

The Canadian miner said it now expects 370,000 tons and

420,000 tons of copper output from the Kamoa-Kakula mining

complex. It had withdrawn earlier guidance of 520,000 and

580,000 tonnes following seismic activity and floods in May.

The company also withdrew its 2026 target of about 600,000

tonnes of copper production.

"This is a significant setback for the plans at Kamoa-Kakula

and leaves uncertainty about 2026 and beyond production and

whether mining can resume in the previously developed area of

Kakula East," analysts at RBC said in a note.

The disruption is the latest in a series of supply-side

setbacks that has tightened global copper supply, helping to

drive margins for smelters into deeply negative territory.

Co-owner Zijin Mining has not issued any

statements on the mine's status since May, when it said the

tremors had damaged mine roofs and could affect output.

Ivanhoe subsequently disputed Zijin's statement, although it

later withdrew guidance.

Zijin did not immediately respond to an emailed request for

comment about Ivanhoe's latest statement.

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