February 6, 2019 / 3:33 PM / 9 months ago

BUZZ-Ivanhoe up on Congo mine initial study

** Canadian copper miner’s shares up 11.3 pct at C$3.23 - highest since June 2018

** Ivanhoe reports pre-feasibility study for copper mine in Democratic Republic of Congo, expects 6 million tonne per annum (Mtpa) at stage one

** Preliminary economic assessment says once production rate of 18 Mtpa is achieved, copper mine projected to become world’s 2nd-largest, with peak annual production of more than 700,000 tonnes

** “... This study highlights the potential value of the project which does not appear to be reflected in the current share price” - RBC Capital Markets

** Including Wednesday’s gains, IVN up ~36 pct in 2019 (Reporting by Shradha Singh in Bengaluru)

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