https://www.northernminer.com/
Ivanhoe Mines (TSX: IVN; US-OTC: IVPAF) on Wednesday reported record third-quarter copper production but cut its full-year guidance by 6%, blaming power outages at its Kamoa-Kakula complex in the Democratic Republic of Congo.
The Toronto-based company lowered the copper guidance to 425,000–450,000 tonnes, from 440,000–490,000 tonnes. The disruptions stemmed from deficient transmission capacity and instability in the DRC’s southern grid, managed by state-owned Société Nationale d’Électricité. Delays in upgrading the Inga II dam’s transmission line and grid bottlenecks at the Kolwezi substation limited reliable power delivery.
Management is working to stabilize energy sources and expects smoother operations in 2025. Ivanhoe installed 220 megawatts of diesel backup. It aims to finish grid stabilization projects by mid-2025. It also plans to introduce solar power with battery storage within the next 18 months to complement hydropower.
For the rest of this article: https://www.northernminer.com/news/ivanhoe-cuts-copper-forecast-on-drc-power-woes-while-friedland-touts-new-discoveries/1003872798/