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

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

(Ecofin Agency) - 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.



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ECOFIN AGENCY offers a selection of articles translated from AGENCE ECOFIN. Founded in 2011, Agence Ecofin is a leader in Francophone Pan-African economic news, particularly in West and Central Africa. The agency publishes daily news on nine African economic sectors: Public Management, Finance, ICT, Agribusiness, Energy, Mining, Transport & Logistics, Communication, and Training.

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