By: OrePulse

Ivanhoe Mines has cut its 2027 copper production guidance for the Kamoa-Kakula complex in the Democratic Republic of Congo for the second time this year, citing high diesel prices, lower ore grades and reduced output, the company said on November 4.

The miner now expects Kamoa-Kakula to produce between 300,000 and 350,000 tonnes of copper in 2027, down from a previous range of 380,000 to 420,000 tonnes. Ivanhoe also raised its 2027 cash cost guidance to between $2.50 and $3.00 per pound of copper, up from a prior range of $2.10 to $2.50 per pound.

The company said the restart of underground production at the mine's eastern Kakula section, which flooded earlier in 2026, has been pushed back roughly a year, from late 2027 to late March 2028. As a bridge while underground output is restored, Ivanhoe said it plans to bring shallow open-pit "starter pits" into production at eastern Kakula.

The November 4 revision marks the second cut to Kamoa-Kakula's 2027 production outlook this year. Ivanhoe Mines, listed on the Toronto Stock Exchange under the ticker IVN and chaired by Robert Friedland, has developed Kamoa-Kakula as one of the highest-grade major copper mines in the world, and the complex's output and cost trajectory are closely watched as a gauge of near-term copper supply growth.

Following the announcement, TD Cowen analyst Craig Hutchison downgraded Ivanhoe Mines' stock to a hold rating.