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By Elena Vardon
Critical Metals PLC said Friday that its change of mining equipment supplier at its Molulu copper-cobalt project in the Democratic Republic of Congo has delayed the start of copper ore production to January.
The mining investment company said the delay won’t impact its 12-month copper production or earnings forecasts.
Critical Metals expects replacement mining equipment from a new supplier to be on site by the end of next week, it said.
The group said it decided to change supplier after it faced issues with the previous one regarding operational failures and unmet deadlines.
In November, Critical Metals said it had signed a contract to lease the heavy mining equipment it needs to start mining.
Shares at 0954 GMT were down 1.25 pence, or 4.4%, at 27.0 pence.
Write to Elena Vardon at elena.vardon@wsj.com
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