CMOC Group Expands Copper Production in the DRC
CMOC Group, a Chinese mining company, has revealed its ambitious plans to boost copper production in the Democratic Republic of Congo (DRC) to 600,000 metric tons in the upcoming year.
This significant development follows a recent resolution of a long-standing dispute with the state-mining entity, Gecamines, and marks a positive turning point for the company.
CMOC Group is actively increasing its production output at the Tenke Fungurume Mining (TFM) facility, where copper and cobalt exports had faced a ban until May this year due to a protracted disagreement with Gecamines, which has since been successfully resolved.
The expansion strategy encompasses the introduction of additional production lines at the TFM mine, which is expected to result in an impressive copper output of 450,000 tons next year.
Furthermore, CMOC Group is venturing into the KFM mine, previously known as Kisanfu, which commenced production earlier this year.
Their objective is to contribute an extra 150,000 tons of copper from this mining site, although no specific forecast has been provided for cobalt production for the upcoming year.
In the preceding year, CMOC Group managed to produce 254,286 tons of copper and 20,286 tons of cobalt from its operations in the Congo.
This remarkable surge in output positions CMOC Group among the world’s top 10 copper producers. It’s worth noting that the company is poised to surpass Glencore, thereby becoming the world’s leading producer of cobalt, a significant milestone in the mining industry.
Congo, often regarded as the premier supplier of cobalt globally, also holds the distinction of being the third-largest copper producer, trailing only behind Peru and Chile.
Recognizing the enormous potential of both the TFM and KFM mines, CMOC Group remains committed to exploring further expansion opportunities, particularly as the persistent power supply shortages in the DRC gradually ease.
CMOC Group resumed its copper and cobalt shipments in May after a nearly year-long ban imposed due to disputes with Congolese authorities.
The resumption of exports has been proceeding smoothly since May, and CMOC Group anticipates destocking by the end of the month, during which approximately 240,000 tons of copper in stock will be transported, as confirmed by CMOC Vice President Zhou Jun.
