Europe's largest copper producer expects operating pre-tax earnings in its 2018/19 fiscal year to fall significantly by more than 15% compared with the previous year.
Ivanhoe can now finance Kakula and Kipushi mine to commercial production, and significantly advance, or achieve, production at the company’s Platreef Project in South Africa.
The company recorded net income of $3.3m on $36m in revenue during the past quarter, compared with a net loss of $3.5m on $37m in revenue during the year-ago quarter.
Sailingstone, its second biggest investor, flagged its vote in an open letter last month, citing governance issues and the board's lack of engagement with minority investors.
The world's second largest bullion miner is preparing its Zambian copper mine Lumwana for sale in the second half of 2019, looking to target Chinese buyers.
