Ivanhoe lowers Congo copper production guidance, intensifying copper supply concerns

Ivanhoe Mines Ltd. announced that the production guidance for the Kamoa-Kakula copper complex for next year is below expectations, with an anticipated output between 380,000 and 420,000 metric tons. This joint venture with Zijin Mining Group, located in the Democratic Republic of the Congo (DRC), is recovering from flood damage, and its owners are assessing and mitigating the impacts of ground movement in the eastern section of the Kakula mine. Nevertheless, the production guidance for 2027 (500,000 to 540,000 tons) still exceeds the average analyst expectation of 503,000 tons.

As a result of this news, Ivanhoe's stock price rose by as much as 6.6%