Latest news with #KakulaMine
Globe and Mail
02-06-2025
- Business
- Globe and Mail
Kamoa-Kakula Management are Advancing Works to Reopen the Western Side of Kakula Mine
Installation of additional underground pumping complete; water levels set to stabilize Phase 1 and 2 concentrators continue to be supplied by stockpiles, and will be supported by ore from western side of Kakula Mine Ivanhoe Mines to provide next week plans for reopening the western side and restart of the eastern side of Kakula Mine Kolwezi, Democratic Republic of the Congo--(Newsfile Corp. - June 2, 2025) - Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) announces today that following the temporary suspension of underground operations at the Kakula Mine announced on May 20, 2025, senior management continues to work alongside world-leading engineering experts to safely and conservatively restart mining operations. Kamoa Copper's engineering teams are currently updating the short-, medium-, and long-term plans to resume operations on both the western and eastern sides of the Kakula Mine. Subject to dewatering progress, underground mining is expected to restart later this month on the western side of the mine, which remains dry and supported by over 1,000 litres per second of operational pumping capacity. Operations on the eastern side of the Kakula Mine are expected to restart once dewatering is complete. Kamoa Copper has implemented a two-stage plan to dewater the entire Kakula Mine: Stage One involves the installation of temporary underground pumping infrastructure to stabilize and maintain current water levels. Stage One was completed today, with total underground pumping capacity increasing to approximately 4,400 litres per second, sufficient to manage water inflows. Stage Two involves the installation of high-capacity, surface-mounted pumps and new permanent infrastructure to fully dewater the entire Kakula Mine. Stage Two is already underway. Kamoa Copper has ordered four high-capacity pumps, each rated at 650 litres per second. Additional pumps will also be ordered as part of the long term pumping infrastructure plan. These pumps will be deployed in pairs and installed in existing ventilation shafts that access the water catchment areas of the Kakula Mine. Delivery and installation of the surface pumps is expected within 90 days. Meanwhile, the Phase 1 and 2 concentrators continue to operate at approximately 50% of their combined capacity, processing ore from surface stockpiles. Ore from the western side of the Kakula Mine will be fed into the concentrators once underground operations restart. Since mining operations began at Kakula in 2021, crews have completed over 18 months' worth of underground development ahead of the mine plan. This extensive advance development provides significant operational flexibility, allowing access to multiple production areas as they are deemed safe for re-entry. Mining operations at the Kamoa underground mine and ore processing at the adjacent Phase 3 concentrator remain unaffected and continue as normal. Ivanhoe Mines to provide next week plans for reopening the western side and the restart of the eastern side of the Kakula Mine Senior management from Ivanhoe Mines and the Kamoa Copper joint venture, together with world-class geotechnical specialists, are in the process of concluding their thorough, conservative geotechnical assessment of the Kakula Mine. The results of the assessment, as well as the restart plans for the western and eastern sides of the Kakula Mine are expected next week. About Ivanhoe Mines Ivanhoe Mines is a Canadian mining company focused on advancing its three principal projects in Southern Africa; the expansion of the Kamoa-Kakula Copper Complex in the DRC, the ramp-up of the ultra-high-grade Kipushi zinc-copper-germanium-silver mine, also in the DRC; and the phased development of the tier-one Platreef platinum-palladium-nickel-rhodium-gold-copper Mine in South Africa. Ivanhoe Mines is exploring for copper in its highly prospective, 54-100% owned exploration licences in the Western Forelands, covering an area over six times larger than the adjacent Kamoa-Kakula Copper Complex, including the high-grade discoveries in the Makoko District. Ivanhoe is also exploring for new sedimentary copper discoveries in new horizons including Angola, Kazakhstan, and Zambia. Follow Robert Friedland (@robert_ivanhoe) and Ivanhoe Mines (@IvanhoeMines_) on X. Forward-looking statements Certain statements in this news release constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws. Such statements and information involve known and unknown risks, uncertainties, and other factors that may cause the actual results, performance, or achievements of the company, its projects, or industry results to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified using words such as "may", "would", "could", "will", "intend", "expect", "believe", "plan", "anticipate", "estimate", "scheduled", "forecast", "predict" and other similar terminology, or state that certain actions, events, or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. These statements reflect the company's current expectations regarding future events, performance, and results and speak only as of the date of this news release. Such statements include, without limitation: i) statements that water levels are set to stabilize; ii) statements regarding the operating capacity of the Phase 1 and 2 concentrators, processing of stockpiles and that Ore from the western side of the Kakula Mine will be fed into the concentrators once underground operations restart; iii) statements regarding plans to resume mining operations in the western section of Kakula; iv) statements regarding the water inflow rate and the pumping capacity being sufficient to stabilize current water levels; v) statements regarding the procurement, deployment, installation and delivery of high-capacity pumps; vi) statements regarding the timing of conclusions by senior management and geotechnical specialists, as well as the timing and the stages for restart plans for the western and eastern sides of Kakula mine; and (vii) statements that the company will provide plans for reopening the western and eastern sides of Kakula Mine next week. Forward-looking statements and information involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indicators of whether such results will be achieved. Many factors could cause actual results to differ materially from the results discussed in the forward-looking statements or information, including, but not limited to: (i) uncertainty around the rate of water ingress into underground workings; (ii) the ability, and speed with which, additional equipment can be secured; (iii) the continuation of seismic activity; (iv) the state of underground infrastructure; (v) uncertainty around when future underground access can be secured; (vi) future mine stability cannot be guaranteed; and (vii) future mining methods, may differ the impact on Kakula operations. Additionally, the factors discussed above and under the "Risk Factors" section in the company's MD&A for the three months ended March 31, 2025, and its current annual information form, and elsewhere in this news release, as well as unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; changes in the rate of water ingress into underground workings; the continuation of seismic activity; the state of underground infrastructure; delays in securing underground access; changes to the mining methods required in the future; the failure of parties to contracts with the company to perform as agreed; social or labour unrest; changes in commodity prices; and the failure of exploration programs or studies to deliver anticipated results or results that would justify and support continued exploration, studies, development or operations. Although the forward-looking statements contained in this news release are based upon what management of the company believes are reasonable assumptions, the company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release. The company's actual results could differ materially from those anticipated in these forward-looking statements as a result of the factors outlined in the "Risk Factors" section in the company's MD&A for the three months ended March 31, 2025, and its current annual information form.
Yahoo
26-05-2025
- Business
- Yahoo
Ivanhoe Mines stock drops as ‘seismic activity' halts Congo copper project
Ivanhoe Mines ( shares fell steeply on Monday as the company pulled its 2025 production and financial guidance for a mine in the Democratic Republic of the Congo where 'seismic activity' has made it unsafe to work underground. Ivanhoe shares fell as much as 18.4 per cent on the Toronto Stock Exchange with the Monday trading session. Shares were down 17.04 per cent at $10.66 per share at 2:12 p.m. ET. In a news release on Monday, Vancouver-based Ivanhoe says seismic activity at its Kakula mine has continued 'over the past few days,' prompting a suspension of underground activities on May 25. Ivanhoe says geotechnical experts are working to determine the cause and effect of the activity. 'We are working around the clock with the world's foremost geotechnical experts to establish the cause of the issues we faced and how we will resolve them,' CEO Marna Cloete stated on Monday. While Ivanhoe says its nearby Kamoa Mine is continuing normal operations, the company withdrew its Kamoa-Kakula's production and cost guidance for 2025, along with the ramp-up schedule for its direct-to-blister smelter. "I remind readers that SpaceX - today responsible for approximately 90 per cent of total payload launched into space by humanity - did not attain this status without numerous setbacks,' Ivanhoe founder and executive co-chairman Robert Friedland stated in Monday's news release. 'We approach our operations at Kamoa-Kakula with the same mindset.' According to RBC Capital Markets, Ivanhoe anticipated full-year 2025 production of between 520,000 and 580,000 tonnes of copper from its Kamoa-Kakula complex at a cash cost of US$1.65 to US$1.85 per pound. 'Damage to pumping infrastructure has also led to increased water inflow into the mine so the focus now is on dewatering activity and additional equipment is being added to increase pumping capacity,' analyst Sam Crittenden wrote in a note to clients. 'This leaves uncertainty as we await further updates to determine the potential impact on production.' Crittenden maintains a $24 price target on Ivanhoe shares, with an 'outperform' rating on the stock. Jeff Lagerquist is a senior reporter at Yahoo Finance Canada. Follow him on Twitter @jefflagerquist. Download the Yahoo Finance app, available for Apple and Android.
Yahoo
26-05-2025
- Business
- Yahoo
Underground Mining Activities at Kakula Mine Suspended; Remediation Work Continues in Western Section of Kakula
Phase 1 and 2 concentrators continue operating, supplied by stockpiles Operations at Kamoa Mine and Phase 3 concentrator continue normal operations Ivanhoe Mines and Zijin committed to restore Kakula Mine back into production as soon as safely possible Kolwezi, Democratic Republic of the Congo--(Newsfile Corp. - May 26, 2025) - Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) Executive Co-Chairman Robert Friedland and President and Chief Executive Officer Marna Cloete today provide an operational update on the Kamoa-Kakula Copper Complex in the Democratic Republic of the Congo, following the temporary suspension of operations at the Kakula underground mine, as first announced by the company on May 20, 2025. Senior management and a world-class team of geotechnical experts continue to conduct a thorough investigation of the mine to understand the cause and effect of the seismic activity. Seismic activity at the Kakula underground mine has continued to occur intermittently over the past few days. Given the recent seismic activity, underground activities were suspended again on Saturday, May 25, 2025, with employees safely brought above ground and mobile equipment removed from the mine workings. The safety of employees and contractors remains paramount, and zero lost time injuries have been reported. Preliminary indications are that seismic activity at the Kakula underground could potentially continue for weeks, which would inhibit access to the mine and prolong the temporary suspension of operations at Kakula. As a result of the impact on underground pumping and electrical infrastructure, to date, there has been an increase in water inflow levels into the Kakula underground mine. Kamoa Copper, with support from Ivanhoe and Zijin Mining, is currently preparing detailed dewatering plans, including the acquisition of additional pumping equipment to increase pumping capacity and allow for dewatering from surface. Ivanhoe would like to thank its Chinese partners Zijin and CITIC Metal for their assistance in procuring additional equipment for the dewatering efforts. Ivanhoe Mines' President and Chief Executive Officer, Marna Cloete commented: "I would like to extend my profound thanks to our dedicated workforce, who have shown exceptional resilience and commitment while working under challenging conditions during the recent seismic activity. The safety of our employees is our highest priority, and it is testament to the professionalism and focus of everyone at Kamoa Copper that we have recorded no injuries in a dynamic environment. "While underground mining operations are temporarily suspended at Kakula, we are focusing our efforts on maintaining pumping and water management infrastructure, including accelerating procurement for dewatering equipment from surface. We are working around the clock with the world's foremost geotechnical experts to establish the cause of the issues we faced and how we will resolve them. "We maintain significant optionality to maintain Kakula's concentrator operations from surface stockpiles, or potentially temporarily re-deploy Kakula employees and equipment to Kamoa Mine, which continues uninterrupted." Ivanhoe Mines' Founder and Executive Co-Chairman, Robert Friedland commented: "We are going to gain wisdom and experience from the events that have unfolded in the past week. Ivanhoe, together with our partner Zijin, is operating in complex, high-grade sedimentary copper systems on a scale not seen before globally. What has transpired will give us valuable insight into managing geotechnical conditions and maintaining critical pumping infrastructure, which will allow us to future-proof and safely restart mining operations at Kakula … and such learnings will be applied in earnest to our activities at Kamoa and in the Western Forelands. "I remind readers that SpaceX - today responsible for approximately 90% of total payload launched into space by humanity - did not attain this status without numerous setbacks. Each setback brought their team new knowledge, making the mission stronger... and so we approach our operations at Kamoa-Kakula with the same mindset. Together we plan to restore operations to be safer and stronger than ever." As underground areas are deemed safe for crews to return, the initial focus will be to inspect, repair, and restart pump stations and associated piping, as well as electrical substations and associated cabling. Remediation work continues in the shallower western sections of the Kakula Mine, where current dewatering rates are approximately 1,000 litres per second (L/s). Kamoa Copper's engineering team is focused on restoring underground pumping capacity to over 3,000 L/s, which is deemed sufficient to stabilize water levels. In parallel, the management team intends to install at all of our mines high-capacity pumping systems that can operate from surface as permanent infrastructure. Surface infrastructure at Kakula, including the Phase 1 and 2 concentrators and direct-to-blister smelter, remains completely unaffected. The Phase 1 and 2 concentrators are currently processing ore from surface stockpiles. Mining activities at the Kamoa underground mine and processing at the adjacent Phase 3 concentrator continue to operate normally. Kamoa-Kakula's 2025 production and cost guidance, along with the ramp-up schedule for the direct-to-blister smelter, have been withdrawn pending review. Ivanhoe will provide further updates as more information is available. Ivanhoe and Zijin continue to work collaboratively under a strong partnership at the joint-venture level and are committed to returning Kakula back to production as soon as safely possible. About Ivanhoe Mines Ivanhoe Mines is a Canadian mining company focused on advancing its three principal projects in Southern Africa; the expansion of the Kamoa-Kakula Copper Complex in the DRC, the ramp-up of the ultra-high-grade Kipushi zinc-copper-germanium-silver mine, also in the DRC; and the phased development of the tier-one Platreef platinum-palladium-nickel-rhodium-gold-copper Mine in South Africa. Ivanhoe Mines is exploring for copper in its highly prospective, 54-100% owned exploration licences in the Western Forelands, covering an area over six times larger than the adjacent Kamoa-Kakula Copper Complex, including the high-grade discoveries in the Makoko District. Ivanhoe is also exploring for new sedimentary copper discoveries in new horizons including Angola, Kazakhstan, and Zambia. Follow Robert Friedland (@robert_ivanhoe) and Ivanhoe Mines (@IvanhoeMines_) on X. Information contact Investors Vancouver: Matthew Keevil +1.604.558.1034 London: Tommy Horton +44 7866 913 207 Media Tanya Todd +1.604.331.9834 Forward-looking statements Certain statements in this news release constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws. Such statements and information involve known and unknown risks, uncertainties, and other factors that may cause the actual results, performance, or achievements of the company, its projects, or industry results to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified using words such as "may", "would", "could", "will", "intend", "expect", "believe", "plan", "anticipate", "estimate", "scheduled", "forecast", "predict" and other similar terminology, or state that certain actions, events, or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. These statements reflect the company's current expectations regarding future events, performance, and results and speak only as of the date of this news release. Such statements include, without limitation: (i) statements that the Phase 1 and Phase 2 concentrators will continue to be supplied by stockpiles; (ii) statements that seismic activity at the Kakula underground if it continues for weeks, would inhibit access to the mine and prolong the temporary suspension of operations as Kakula; (iii) statements that once underground access is deemed safe, crews will focus on inspecting, repairing, and restarting pump stations and associated piping, as well as electrical substations and associated cabling; and, (iv) statements that Kamoa-Kakula's 2025 production and cost guidance, along with the ramp-up schedule for the direct-to-blister smelter, have been withdrawn pending review. In addition, that Ivanhoe will provide further updates as more information is available. Forward-looking statements and information involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indicators of whether such results will be achieved. Many factors could cause actual results to differ materially from the results discussed in the forward-looking statements or information, including, but not limited to; (1) uncertainty around the rate of water ingress into underground workings, (2) the ability, and speed of which, additional equipment can be secured, (3) the continuation of seismic activity, (4) the state of underground infrastructure, (5) uncertainty around when future underground access can be secured, (6) future mine stability cannot be guaranteed (7) future mining methods, may differ the impact on Kakula operations. The factors discussed above and under the "Risk Factors" section in the company's MD&A for the three months ended March 31, 2025, and its current annual information form, and elsewhere in this news release, as well as unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of parties to contracts with the company to perform as agreed; social or labour unrest; unexpected geotechnical changes to mine operations, changes in commodity prices; and the failure of exploration programs or studies to deliver anticipated results or results that would justify and support continued exploration, studies, development or operations. Although the forward-looking statements contained in this news release are based upon what management of the company believes are reasonable assumptions, the company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release. The company's actual results could differ materially from those anticipated in these forward-looking statements as a result of the factors outlined in the "Risk Factors" section in the company's MD&A for the three months ended March 31, 2025, and its current annual information form. To view the source version of this press release, please visit
Yahoo
26-05-2025
- Business
- Yahoo
Ivanhoe disputes Zijin's statement on seismic activity impact at Kakula mine
Ivanhoe Mines has challenged a statement from Zijin Mining regarding the recent seismic activity at the Kakula copper mine in the Democratic Republic of Congo, according to a report by Reuters. The Kakula complex, recognised as Africa's largest copper producer, produced 437,000 tonnes last year. Zijin Mining had mentioned in a statement: 'multiple roof-falling and rib-spalling in the eastern section of the [Kakula] mine,' but Ivanhoe Mines has refuted this claim. Ivanhoe Mines said: "Preliminary indications suggest that seismic activity... resulted in a redistribution of forces underground and caused 'scaling', or rock falls, from the sidewalls of certain mining areas.' The company has emphasised that the seismic event led to a temporary suspension of operations due to safety precautions, with no injuries reported. Ivanhoe Mines focused on the safety of its workforce, successfully evacuating all personnel and securing mobile equipment. Ivanhoe Mines was quoted as saying: 'The operational teams are currently focused on safely repairing damage caused to the cables and pipework that support the underground pumping infrastructure.' This response comes after Zijin Mining Group's earlier warning about the seismic incident potentially affecting the mine's production targets for 2025. Ivanhoe Min has stated it will assess the situation before making any revisions to its production guidance. Additionally, Zijin Mining is reportedly in talks to acquire shares in Zangge Mining, a lithium producer based in Qinghai, China, with a market value of 46.6bn yuan ($6.4bn). This potential acquisition is part of Zijin's strategy to capitalise on the growing demand for battery materials by strengthening its presence in the global lithium market. "Ivanhoe disputes Zijin's statement on seismic activity impact at Kakula mine" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
