CAPITAL MARKETS

Ivanhoe shares drop on DRC reports

Company responds that no changes have been made into law

Staff reporter

This article is 6 years old. Images might not display.

In a brief statement, the company noted that there had been no changes implemented into law and said it planned to issue a further statement in the near future.

Shares in the company regained a little to close down 11.34% at $3.52.

The company, which is developing two projects in the DRC, had issued a joint statement with other miners in December warning against the government's plans to increase taxes on the sector.

Shares in Randgold Resources (LN:RRS), which last month announced development was complete at the large Kibali gold mine in the DRC, closed down about 0.8%.

Randgold CEO Mark Bristow used a Kibali update last month to again appeal to the DRC government to engage with the industry in forming a mining code to stimulate this part of the economy "instead of crippling it".

Kibali is a joint venture with Anglogold Ashanti (JSE:ANG) and state-owned Sokimo.

Anglogold Ashanti shares closed down 0.6%.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

Mining Journal Intelligence World Risk Report 2024 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 117 jurisdictions globally, assessed across six risk categories and an industrywide survey.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.