02:03 PM EDT, 05/23/2025 (MT Newswires) -- (Updates shares.)

Ivanhoe Mines ( IVPAF ) on Friday responded to a press release by Zijin Mining Group about its Kamoa-Kakula's operations released earlier in the day, saying it is clarifying "inaccuracies" made in the release.

The company on Tuesday said it temporarily suspended mining operations at the Kakula underground mine at the Kamoa-Kakula Copper Complex in the Democratic Republic of Congo after seismic activity in the eastern section of the mine.

The company said the press release by Zijin Mining, which holds a 44.45% stake in the mine, refers to "... multiple roof-falling and rib-spalling in the eastern section of the [Kakula] mine. Ivanhoe does not agree with this statement.

The company said it, along with Kamoa Copper senior management, supported by geotechnical specialists, continue to conduct a thorough inspection of the Kakula underground mine, which began on May 20.

It further noted the inspection is ongoing and has been advancing further into the eastern section of the mine and results so far show there is no evidence of collapsing stopes or structural pillars.

"Preliminary indications suggest that seismic activity, which was experienced during the last week and has subsequently subsided, resulted in a redistribution of forces underground and caused "scaling", or rock falls, from the sidewalls of certain mining areas," said the company.

The company stated operational teams are currently focused on safely repairing damage caused to the cables and pipework that support underground pumping infrastructure.

Ivanhoe said it will decide whether the temporary suspension of underground operations will impact annual production guidance for the Kamoa-Kakula Mining Complex after the completion of the underground investigation. It added that it will provide a more detailed update by May 27.

Ivanhoe Mines ( IVPAF ) shares were last seen down $0.16 to $12.88 on the Toronto Stock Exchange.

Price: 12.88, Change: -0.16, Percent Change: -1.23