Ivanhoe Slumps After Withdrawing Congo Copper Mine Guidance
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Ivanhoe Mines Ltd. shares slumped after it withdrew cost and production guidance for Africa's largest copper mine, where further seismic activity has halted some underground operations.
The Canadian miner is reviewing its target copper output of 520,000 tons to 580,000 tons from the Kamoa-Kakula complex in the Democratic Republic of Congo, Ivanhoe said in a statement on Monday. The ramp-up schedule for a new smelter has also been withdrawn.
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