Ivanhoe Mines jumps after eyeing partial restart of flooded Congo copper mine

June 02, 2025 11:23 AM PDT | By EODHD

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Ivanhoe Mines jumps after eyeing partial restart of flooded Congo copper mine — Image source: Kalkine Media

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[Pile of Scrap Copper Rod] FactoryTh/iStock via Getty Images Ivanhoe Mines (OTCQX:IVPAF [https://seekingalpha.com/symbol/IVPAF]) +4.2% in Monday's trading after saying it is advancing work [https://seekingalpha.com/pr/20123180-kamoa-kakula-management-are-advancing-works-to-reopen-the-western-side-of-kakula-mine] on reopening parts of its Kakula copper mine in the Democratic Republic of Congo later this month that were closed due to underground seismic activities. Ivanhoe (OTCQX:IVPAF [https://seekingalpha.com/symbol/IVPAF]) had temporarily stopped operations at the Kakula mine, part of its giant Kamoa-Kakula copper mining complex, after tremors that also damaged infrastructure and caused flooding underground. The miner said it plans to resume operations on the western side of the Kakula mine, which is dry and where pumping equipment is working, while the eastern section of the mine will resume operations once the pumping of the water is completed. Ivanhoe (OTCQX:IVPAF [https://seekingalpha.com/symbol/IVPAF]) said it has now been able to stabilize water levels after installing temporary pumping equipment underground, and it has ordered additional pumping equipment to fully remove water from the mine. The Kamoa-Kakula mines produced 437K metric tons of copper in 2024, and last week Ivanhoe (OTCQX:IVPAF [https://seekingalpha.com/symbol/IVPAF]) suspended its output forecast for this year, which initially was set at 520K-580K metric tons of copper.

MORE ON IVANHOE MINES * Ivanhoe Mines Q1 2025 Earnings Call Presentation [https://seekingalpha.com/article/4780660-ivanhoe-mines-ltd-2025-q1-results-earnings-call-presentation] * Ivanhoe Mines Q1 2025 Earnings Conference Call Transcript [https://seekingalpha.com/article/4780635-ivanhoe-mines-ltd-ivpaf-q1-2025-earnings-conference-call-transcript] * Ivanhoe Mines: A Solid Miner In A Turbulent Copper Market [https://seekingalpha.com/article/4773486-ivanhoe-mines-stock-solid-miner-in-turbulent-copper-market]

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