Zijin Mining to Boost Copper Production with Focus on DRC Expansion
Zijin Mining Group, China’s leading copper producer, has announced plans to significantly increase its production targets in response to anticipated continued rises in copper prices driven by persistent supply shortages.
This strategic move will accelerate the development of its mines in the Democratic Republic of Congo (DRC), according to sources.
Zijin Mining aims to increase its copper production to 1.22 million tonnes by 2025, which is a 4% rise from its previous forecast. By 2028, the company targets an ambitious production range of 1.5 to 1.6 million tonnes, marking a 50% increase from 2023 levels.
This projection is based on “positive market fundamentals” and the potential for expanding Zijin’s production capacities, including the Julong copper project in Tibet.
The DRC is central to Zijin Mining’s global expansion strategy. The company plans to accelerate the development of its Congolese mines, leveraging the country’s rich mining potential and the increasing global demand for copper.
Zijin is already a major player in the DRC’s mining sector, holding a significant stake in the Kamoa-Kakula copper and cobalt mine, one of the world’s largest copper mines under construction, located in the Katanga region’s Kamoa-Kakula copper-cobalt belt.
Beyond expanding its existing operations, Zijin is actively seeking new exploration and acquisition opportunities within the DRC. This includes ambitions to manage the largest lithium mine in Manono, Tanganyika province.
Additionally, the company has expressed interest in acquiring “very large mines or mining companies with global influence,” with the DRC being a prime target for such acquisitions.
Zijin’s expansion efforts in the DRC are part of its broader strategy to capitalize on the country’s vast mineral resources and meet the growing global demand for copper and other critical minerals.
SOURCE:mines-cd
