African Critical Mineral Contest: The Kamoa-Kakula copper mine in the Democratic Republic of Congo (DRC), in which Zijin Mining holds a stake of 44.5% (including through Ivanhoe Mines), has suspended some operations after an earthquake.
Ivanhoe Mines has suspended operations at the Kakula mining area located in eastern DRC following the earthquake.
The first and second concentrator plants continue to use surface ore, but with reduced capacity.
The annual copper production target remains unchanged at 520,000 to 580,000 tons.
Ivanhoe Mines announced the suspension of its underground Kakula mining area within the Kamoa-Kakula copper complex in the DRC. This shutdown was due to seismic activity detected in the eastern area of the mining site on May 18th. All personnel have been safely evacuated, and there are no reports of casualties.
Despite the partial shutdown, Ivanhoe continues to operate its first and second concentrator plants at reduced capacity, processing surface ore stockpiles. As of April 30th, the company had 3.8 million tons of surface ore with an average copper grade of 3.2%. Meanwhile, the third concentrator plant and the adjacent Kamoa underground mine remain fully operational.
The geotechnical team is currently inspecting the affected areas. The west section of the Kakula mine has been declared safe, but assessments for the east section are ongoing. The company has not yet determined the date for full resumption of operations.
Importantly, Ivanhoe has not revised its copper production forecast for 2025. The company still expects the Kamoa-Kakula complex to produce 520,000 to 580,000 tons of copper this year. The actual impact will depend on the duration of the shutdown at the Kakula mine.
Kamoa-Kakula is the largest copper mining project in the DRC and an important asset in Ivanhoe's global production portfolio.
Source: ecofinagency
Original article: https://www.toutiao.com/article/1832761814686922/
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