TFM Showcases Economic Impact and Calls for Energy Reform at DRC Breakfast During Mining Indaba
Tenke Fungurume Mining Highlights $8 Billion Contribution to DRC Economy at Mining Indaba 2026
Tenke Fungurume Mining (TFM) Deputy Managing Director John Woto addressed delegates on 11 February 2026 at the DRC Breakfast held on the sidelines of Mining Indaba in Cape Town, South Africa.
The event, staged at CTICC 2 under the theme “Global value chains: the economic case for upstream and downstream investments in the DRC”, brought together government officials, investors and industry stakeholders. Among those present was the DRC’s Minister of Mines.
During his address, Woto outlined TFM’s economic contribution and strategic role in positioning the Democratic Republic of Congo as a key player in global copper and cobalt value chains.
A Major Contributor to the DRC Economy
TFM, a subsidiary of China-based CMOC Group, has operated in the DRC since 2006, when construction of the project began. Commercial copper and cobalt production commenced in March 2009.
Located in Lualaba province, TFM is one of the country’s largest producers of copper cathode and cobalt hydroxide. The operation encompasses large-scale extraction and processing facilities and forms part of one of the most significant copper-cobalt concessions in Central Africa.
According to its third-quarter 2025 report, TFM has contributed approximately US$8 billion to the DRC’s public treasury since inception. Woto attributed this performance to sustained production growth and adherence to international operational standards.
He noted that CMOC Group now ranks among the world’s top ten diversified mining companies and that TFM remains a key pillar of its global portfolio.
Certification and Community Investment
TFM is the first mine in Africa to receive the Copper Mark certification, reflecting compliance with internationally recognised responsible mining standards. The company allocates 0.3% of its revenue to community development initiatives, reinforcing its social investment commitments.
With nearly 20,000 direct and indirect jobs supported, TFM plays a significant role in employment creation and infrastructure development in Lualaba province.
Woto highlighted that two principal pillars underpin the company’s certification and performance: operational excellence and sustained social contribution to host communities.
Energy Constraints and Regulatory Challenges
Despite its achievements, TFM identified energy supply as the primary constraint facing mining operations in the DRC.
“The main obstacle remains the lack of reliable energy to support our production ambitions,” Woto stated, calling for coordinated action with the Ministry of Energy to develop sustainable long-term solutions.
He also raised concerns regarding the effectiveness and consistency of administrative oversight in the mining sector, urging greater collaboration between regulatory authorities and operators to address bottlenecks affecting production and distribution.
Positioning the DRC in Global Value Chains
The DRC Breakfast formed part of the country’s broader strategy to attract upstream and downstream investment and strengthen its integration into global mineral value chains.
As demand for copper and cobalt continues to rise driven by electrification, renewable energy and electric vehicle manufacturing TFM’s scale, fiscal contribution and production capacity underscore the DRC’s central role in the global energy transition supply chain.
Woto’s message was clear: while the DRC holds world-class mineral assets, addressing energy infrastructure and regulatory efficiency will be critical to unlocking the sector’s full potential.
