Mining

Top Chinese Copper Miner Zijin Mining to Ramp Up Output in the DRC

Top Chinese Copper Miner Zijin Mining to Ramp Up Output in the DRC
Tuesday, 21 May 2024 11:05

Zijin Mining owns 39.6% of the Kamoa-Kakula copper complex in the Democratic Republic of Congo (DRC). Last Thursday, the Chinese firm unveiled plans to increase its global production, including in the DRC.

China's top copper producer, Zijin Mining, plans to ramp its production to 1.22 million tonnes in 2025 and up to 1.6 million tonnes by 2028. This is about 50% more than its 2023 output (1.01 million tonnes). The Kamoa-Kakula project in the DRC should contribute to the surge. 

To achieve its goal, Zijin plans to launch Phase 4 of this Congolese copper complex which it detains with Ivanhoe Mines. The project would increase the complex’ annual production to over 600,000 tonnes per year for the next decade. Phase 3 of the project is underway and should be completed by June 2024.

The project's next phase would make Kamoa-Kakula Africa's largest copper mine and the world's third largest, aiming to be the second biggest. The DRC outpaced China and Peru as copper producers in the past three years. 

The Central African nation became the world's second-largest copper producer in 2023, benefiting from rising copper prices, reaching $10,424 per tonne on the London Metal Exchange.

The Kamoa-Kakula complex is equally owned by Ivanhoe Mines and Zijin Mining (39.6% each). The Congolese government holds 20% of the project. In DR Congo, Zijin also holds a 72% stake in the COMMUS copper and cobalt mine.

On the same topic
• DY6 Metals announced a binding agreement to acquire seven rutile exploration permits, including the Yaoundé Ouest project, in Cameroon.• The...
Uganda expects 8% yearly GDP growth, driven by oil, transport, and power projects Crude output set to begin mid-2026, with production projected to...
• Libya, Nigeria revive talks on gas pipeline to Europe via Libya• Proposed 3,300 km route would link to existing Greenstream pipeline• Project aims to...
• Terra Metals has invested in the Nalolo Solar project in Zambia with local and regional partners.• The plant is planned at about 300 megawatts, with...
Most Read
01

From Dakar to Nairobi, Kampala to Abidjan, mobile money has become a lifeline for millions of Africa...

Africa's Boundless Future: How a simple mobile phone became a pocket bank for millions
02

• WAEMU posts 0.9% deflation in July, second month in a row• Food, hospitality prices drop; alcohol,...

WAEMU Region Records Second Straight Month of Deflation, at -0.9% in July 
03

Airtel Gabon, Moov sign deal to share telecom infrastructure Agreement aims to cut costs, boo...

Gabon’s Airtel, Moov to Share Towers Under Govt-Brokered Deal
04

Vision Invest invests $700m in Arise IIP, Africa’s largest private infrastructure deal in 202...

Saudi Arabia’s 2025 Shopping List Now Includes Industrial Parks in Africa — With a $700 Million Entry Ticket
05

As a relatively small issuer in the West African Economic and Monetary Union (WAEMU) market, Benin i...

How Benin, a Small West African Nation, Became a Darling of Regional Debt Markets
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.