Shares of the Canadian mining company were down 6%
Ivanhoe Mines Ltd. executives told investors on Thursday it’s too soon to provide output guidance for its massive copper mine in the Democratic Republic of Congo after seismic activity last month caused flooding deep underground.
The company held a call after slashing its 2025 output guidance for its Kamoa-Kakula complex even after restarting parts of the flood-hit operation. Chief executive Marna Cloete said Ivanhoe can’t offer guidance for 2026 or 2027 in light of the incident.
“We will not speculate on stabilization, if any,” she said on a call. “And we will not be able to provide complete clarity on capital and cost impacts.” Shares of the Canadian mining company were down six per cent as of 11:07 a.m. in Toronto, after earlier plunging by nearly 19 per cent in the biggest intraday decline since March 2020.
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