Ivanhoe Mines said on Tuesday, in a company statement reported by The Northern Miner, that flood recovery at Kamoa-Kakula will take longer than expected, cutting the 2027 outlook to 300,000 to 350,000 tonnes of copper from 380,000 to 420,000 tonnes and narrowing this year’s forecast to about 290,000 tonnes. The company raised its 2027 cash cost forecast to $2.50 to $3.00 a pound from $2.10 to $2.50, and steady state output from its three concentrators is now put at 400,000 to 450,000 tonnes a year, down from more than 500,000 tonnes. Shares fell 7.2 percent to C$8.24 on Wednesday morning, and TD Cowen cut the stock to hold, while Scotiabank said the smaller outlook tightens the copper market in 2027 to 2029.
Ivanhoe cuts Kamoa-Kakula 2027 copper outlook by 19 percent
Ivanhoe Mines cut its 2027 copper production outlook for Kamoa-Kakula in the Democratic Republic of Congo by 19 percent to 300,000 to 350,000 tonnes, and its shares fell 7.2 percent in Toronto on Wednesday morning.
Why it matters: Kamoa-Kakula is one of the world's largest copper complexes, and a smaller, costlier recovery path there leaves the global copper market tighter in 2027 to 2029 than buyers had planned for.
Data as of The Northern Miner, November 4, 2026, reporting Ivanhoe Mines' own statement of November 3, 2026, read in full in this run. Single trade-press report of the company statement, so graded C. Developing item.
Sources
- Friedland's Ivanhoe slashes copper outlook again - The Northern Miner - 2026-11-04