Our friends Zijin and China are up to mischief AGAIN. I got this as an Ivanhoe shareholder.
May 23, 2025
"Ivanhoe Mines responds to inaccuracies made in a press
release by Zijin Mining about Kamoa-Kakula’s operations
■
Ivanhoe Mines to provide a detailed update on Kamoa-Kakula
operations by Tuesday, May 27, 2025
KOLWEZI, DEMOCRATIC REPUBLIC OF THE CONGO – Ivanhoe Mines (TSX: IVN;
OTCQX: IVPAF) today provides clarification to inaccuracies made in a press
release by Zijin Mining released earlier today. The press release was made in
relation to the temporary suspension of operations at the Kakula underground
mine, as announced by Ivanhoe Mines on Tuesday, May 20, 2025, at the KamoaKakula Copper Complex in the Democratic Republic of the Congo.
The press release by Zijin Mining refers to “…multiple roof-falling and rib-spalling
in the eastern section of the [Kakula] mine.” Ivanhoe Mines does not agree with
this statement.
Ivanhoe Mines and Kamoa Copper senior management, supported by geotechnical
specialists, continue to conduct a thorough inspection of the Kakula underground
mine, which commenced on May 20, 2025. The inspection is ongoing and has been
advancing further into the eastern section of the mine. Results so far show that
there is no evidence of collapsing stopes or structural pillars.
Preliminary indications suggest that seismic activity, which was experienced
during the last week and has subsequently subsided, resulted in a redistribution
of forces underground and caused “scaling”, or rock falls, from the sidewalls of
certain mining areas.
The operational teams are currently focused on safely repairing damage caused to
the cables and pipework that support the underground pumping infrastructure.
Once this activity is complete, focus will shift to returning to normal mining
operations starting with the western side of the Kakula Mine.
Once the underground investigation is completed, Ivanhoe Mines will determine
whether the temporary suspension of underground operations will impact annual
production guidance of the Kamoa-Kakula Mining Complex.
Ivanhoe Mines will provide a more detailed update by Tuesday May 27, 2025."
One would think that Zijin, and China, do not enjoy the current sauna conditions and spotlight on their interests in the Congo.
What is better than deflecting negative attention onto a competitor, to take the attention off of the guilty parties? Especially a Western competitor.
!.Zijin's theft of our northern parcel is still up in the air, despite desperate efforts to make it a coup accompli, rather than the hostile corrupt confiscation that it is.
2.Tick, Tick, Tick, the ICSID hearing is coming ever closer, just more damning publicity on the corrupt practices of Zijin and China.
3. Despite secret Chinese missions to the US to cool the tensions, it hasn't worked. The US, and President Trump, have maintained the pressure to replace China, as "the New Boss, in the Congo, AND the tariffs.
Could all of those millions of dollars of bribes be flushed away as bad money misspent? And yes, the Chinese economy is tanking big time. A lot of demonstrations by disenfranchised Chinese workers, who never got their promised good job, nor affordable housing. And news is getting out, despite Chinese government best efforts to suppress it.
We've made it THREE LONG YEARS.
Another couple of months can be done with patience.
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