DRC Govt thanks the Kamoa-Kakula Project, for Copper Production
According to United States Geological Survey estimates, the Democratic Republic of the Congo produced an estimated 2.2 million tonnes of copper in fiscal year 2022.
With this production, the country is now ranked the second largest copper producer in the world, tied with Peru.
Indeed, United States Geological Survey informs that this achievement would not be possible without Kamoa-Kakula, the main copper mine of the fastest growing country on the planet.
In addition, the official report published in March 2023 by Ivanhoé Mines indicates that production from the Kamoa-Kakula copper complex is estimated at more than 92,761 tonnes of copper in concentrate during the fourth quarter of 2022.
Regarding the debottlenecking program, the report states that the Kamoa-Kakula Phase 1 and 2 concentrators were completed ahead of schedule, increasing nameplate processing capacity by 22% to a combined total of 9.2 million tonnes of ore per year.
In January 2023, recall, Ivanhoe Mines announced the exceptional economic results of an updated and independent integrated development plan (IDP 2023) for the Kamoa-Kakula copper complex.
The Pre-Feasibility Study (PFS) for a phased expansion from 9.2 to 19.2 million tonnes per year yields an 8% Net Value Added (NPV) after tax of approximately $19 billion, over a 33 year lifespan.
Kamoa-Kakula will rank as the world’s fourth largest copper producer from 2025, with C1 cash costs in the lowest quartile.
