Kakula underground. Credit: Zijin Mining
Ivanhoe Mines (TSX: IVN) has temporarily suspended its Kakula underground operations in the Democratic Republic of the Congo due to seismic activity in the eastern part of the mine.
In a press release Tuesday, Ivanhoe said all employees at Kakula — part of the larger Kamoa-Kakula copper complex — were safely brought above ground in line with protocols, and mobile equipment was removed from the mine workings.
No injuries were reported after the evacuation, the company added.
Ivanhoe Mines’ stock sank nearly 9% in the morning session on the news, at C$12.57 a share with a market capitalization of C$17.9 billion ($12.8 billion). The stock traded between C$9.79-C$21.32 over the past 52 weeks.
Ivanhoe said its senior management and geotechnical specialists are currently on site to conduct a “thorough inspection” of the Kakula underground mine.
