Global Wrap: Ivanhoe, First Quantum and more

IN Global Wrap: Ivanhoe slumps on DRC mining law; Pebble opposition grows; gold M&A; and results from Glencore and Anglo.

Global Wrap: Ivanhoe, First Quantum and more Global Wrap: Ivanhoe, First Quantum and more Global Wrap: Ivanhoe, First Quantum and more Global Wrap: Ivanhoe, First Quantum and more Global Wrap: Ivanhoe, First Quantum and more

Ivanhoe Mines has responded to media reports of changes to the mining code in the Democratic Republic of Congo as its shares hit a 52-week low yesterday intraday of C$3.405.

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.

Under the plans, copper and cobalt royalties and taxes would rise, as would the government’s free-carry ownership rights.

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