DRC Surpasses Peru as Second-Largest Copper Producer
The Democratic Republic of Congo (DRC) has achieved a significant milestone by surpassing Peru as the world’s second-largest copper producer.
Previously, Peru held this position, trailing behind Chile, one of the leading copper producers globally. The DRC, renowned for its abundant mineral resources, particularly copper, has seen a notable rise in its copper production.
Initial estimates from Statista projected Chile to produce 5.3 million metric tons of copper in 2023, with Peru following closely at 2.6 million metric tons and the DRC at 2.5 million metric tons.
However, recent reports indicate that the DRC’s copper production surged to 2.8 million metric tons, outstripping Peru’s output.
The Ministry of Mines in the Democratic Republic of Congo, as reported by Russian news publication Sputnik, revealed that the country’s copper production in 2023 reached approximately 2.84 million tonnes.
In contrast, Peru achieved a record production of 2.76 metric tons of copper during the same period, marking a 12.7% increase compared to 2022.
Peru’s Minister of Energy and Mines, Romulo Mucho, anticipates further growth, projecting the country’s copper output to reach 3 million tons by 2024.
Recognizing the crucial role of copper in renewable energy, the DRC has accelerated its copper production efforts. In October 2023, the country made a substantial investment of $850 million in a road project to enhance connectivity between copper and cobalt mines in the DRC, Zambia, and an East African port.
Moreover, being one of Africa’s leading mineral-producing nations, the DRC heavily relies on copper exports, attracting significant foreign investments.
Chinese investors, in particular, have played a dominant role, controlling around 70% of the mining sector as reported by S&P Global in 2020.
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Additionally, a recent agreement between Chinese mining company Sicomines and Congolese state-owned Gecamines entails a $7 billion investment, primarily aimed at developing national infrastructure, including roads, in the DR Congo.
