Ivanhoe cuts copper output guidance after seismic disruption

IVANHOE Mines has slashed its annual copper production guidance to between 370,000 and 420,000 tons after seismic activity forced the closure of part of its Kakula mine in the Democratic Republic of Congo, according to a report by Reuters on Thursday.The Canadian miner resumed underground operations on the western side of the Kakula mine on 7 June, but the eastern section remains flooded. Water pumping will begin in August with completion targeted for the fourth quarter.Ivanhoe had previously withdrawn guidance of 520,000 to 580,000 tons following seismic activity and floods in May. The company has also scrapped its 2026 target of approximately 600,000 tons.“This is a significant setback for the plans at Kamoa-Kakula and leaves uncertainty about 2026 and beyond production,” RBC analysts said in a note.The Kakula mine forms part of the giant Kamoa-Kakula copper mining complex. The disruption adds to global copper supply constraints that have pushed smelter margins into deeply negative territory.Co-owner Zijin Mining has remained silent since May, when it said tremors had damaged mine roofs and could affect output. Ivanhoe initially disputed Zijin’s assessment before later withdrawing its guidance.The post Ivanhoe cuts copper output guidance after seismic disruption appeared first on Miningmx.Weiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.com