Ivanhoe Shares Surge After Update on Flooded Congo Copper Mine

Ivanhoe Mines Ltd. shares jumped after the Canadian company said it’s advancing work on reopening parts of a giant copper mine in the Democratic Republic of Congo, without yet committing to a restart date.

The stock rose as much as 8.7% in Toronto on Monday after Ivanhoe said in a statement that management is working with engineers “to safely and conservatively restart mining operations.” The shares were up 5.2% at 1:05 p.m., out-performing peers.