DRC’s Copper Exports Hit Record 3.1 Million Tonnes in 2024
For the first time in its mining history, the Democratic Republic of Congo (DRC) exported a record 3.1 million tonnes of copper in 2024, according to a March 6 report from the Congolese Ministry of Mines. This represents a 13% increase from 2023, driven by strong performances from the country’s largest copper mines.
Key Contributors to Growth
- CMOC Group (operator of the Tenke Fungurume and Kisanfu mines) led production with 650,161 tonnes.
- Ivanhoe Mines (operator of the Kamoa-Kakula copper mine) recorded 437,061 tonnes, marking a 12% increase from 2023.
Copper exports from the DRC could grow further in 2025, supported by a 3.7% increase in global demand, as forecasted by Commodity Insights. Additionally, the CRU Group estimates that the DRC’s copper output will grow by 8% this year compared to 2024.
These developments reinforce the DRC’s position as the world’s second-largest copper producer, surpassing Peru in 2023. Last year, Peru’s copper production fell to 2.73 million tonnes, down 0.7% year-on-year.
Despite the growth, concerns remain:
- Undervaluation of copper sales – Congolese authorities worry that Kamoa-Kakula’s production is being sold below market prices, potentially depriving the state of significant mining revenues.
- China’s economic slowdown – The DRC’s top copper buyer saw a 7.2% drop in Congolese copper imports during January and February 2025, which could impact future export volumes.
As the DRC solidifies its role as a global copper powerhouse, it must navigate market uncertainties while ensuring fair revenue generation from its booming mining sector.
