CMOC expands DRC Kisanfu mine with $1.08B investment
Chinese mining giant CMOC expands DRC Kisanfu mine with $1.08B investment, strengthening global copper and cobalt leadership
Chinese mining giant CMOC Ltd. is accelerating its growth in the Democratic Republic of Congo (DRC) with a $1.08 billion investment to expand its Kisanfu mine in Lualaba province.
The second phase of operations, scheduled for completion in 2027, is expected to increase annual copper production by 100,000 tons, reinforcing CMOC’s position as a global copper leader.
Record Financial Performance in 2025
CMOC’s financial results in 2025 have been exceptional. In the third quarter, profits nearly doubled to 5.61 billion yuan ($788 million), buoyed by copper prices near historic highs.
During the first nine months of 2025, the company produced 543,376 tonnes of copper, a 14% increase compared to 2024.
“Our investment in Kisanfu strengthens our ability to meet global demand for copper and cobalt while consolidating our strategic position in the DRC,” said CMOC Executive Chairman Wei Hong.
Navigating a Restrictive Regulatory Environment
Despite its strong performance, CMOC faces a tightening regulatory landscape. In early 2025, the DRC government—which controls nearly 75% of global cobalt production—imposed a temporary export ban followed by strict quotas.
Over the next two years, CMOC will be allowed to export only 27% of the 114,000 tonnes of cobalt produced in 2024.
Interestingly, this limitation boosted global prices: cobalt metal doubled and cobalt hydroxide tripled, giving CMOC a competitive edge in international markets.
Dominance in the Global Cobalt Market
CMOC’s influence now extends well beyond the DRC. In 2023, the company produced 55,526 tonnes of cobalt, a 170% increase, driven by the commissioning of Kisanfu and the resumption of exports from Tenke Fungurume.
This surge allowed CMOC to overtake Glencore, becoming the world’s leading producer of cobalt—a critical metal for electric batteries and the energy transition. However, overproduction in 2023 caused a 30% drop in global cobalt prices, prompting competitors like Glencore to stockpile output to stabilize the market.
Strategic Implications for China and the DRC
CMOC’s expansion highlights China’s growing control over critical mineral supply chains, with the DRC as a key supplier.
For the DRC, these investments are both an economic opportunity and a governance challenge, as the government seeks to ensure local processing and national development of its mineral resources.
