Ivanhoe plans partial restart for flooded Congo copper mine in late June
JOHANNESBURG, June 2 (Reuters) - Ivanhoe Mines (IVN.TO), opens new tab said on Monday it plans to restart a section of its Kakula copper mine in the Democratic Republic of Congo later this month that was closed due to underground seismic activities.
The Canadian miner temporarily stopped operations at the Kakula mine, part of its giant Kamoa-Kakula copper mining complex, after tremors that also damaged infrastructure and caused flooding underground.
Ivanhoe plans to resume operations on the western side of the Kakula mine, which is dry and where pumping equipment is working, the company said. The eastern section of the mine will resume operations once the pumping of the water is completed, Ivanhoe said.
Ivanhoe shares rose as much as 7.7% in Toronto.
The company said it has now been able to stabilize water levels after installing temporary pumping equipment underground. Additional pumping equipment has been ordered to fully remove water from the mine, Ivanhoe said.
The Vancouver-based miner initially suspended some mining activities on May 20 after the Kakula mine was hit by frequent underground tremors. Ivanhoe said mining at the adjacent Kamoa mine and processing of ore is not affected.
The Congo mines produced about 437,000 metric tons of the metal last year. Ivanhoe last week suspended its output forecast for this year, which had initially been set at between 520,000 and 580,000 metric tons of copper.
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