The announcement sent Ivanhoe’s stock 2% higher at C$19.10 by 1:45 p.m. EDT, giving the Vancouver-based miner a market capitalization of C$25.8 billion ($18.5bn).
In June, the JV partners restarted production at the Kipushi mine 31 years after it was put on care and maintenance. The restart marks exactly a century since the mine first went into production.
“The reopening of the Kipushi mine represents not only a milestone for sustainable resource development but also a promise of economic empowerment for our local communities,” Ivanhoe Mines president Marna Cloete said in a media release Thursday.
“The Kipushi mine was the beating heart of the Kipushi town since operations first began 100 years ago … Today, its heart has been revived, and the resumption of operations is an opportunity for a new economic paradigm,” added Gécamines chairman Guy-Robert Lukama Nkunzi.
This year, the Kipushi mine is…
