MMG Eyes New Copper Projects in DRC as Global Expansion Strategy Accelerates

Chinese Miner MMG Seeks Copper Acquisition Targets in Africa, Including the Democratic Republic of Congo, Amid Rising Global Demand

Global mining company MMG Limited is exploring new acquisition opportunities in Africa, with a particular focus on the Democratic Republic of the Congo as it seeks to expand its copper portfolio.

The Chinese-owned miner is assessing several potential takeover targets across Africa and Latin America, targeting advanced copper projects that are close to development but not yet in production.

The company says it is interested in assets with significant scale that could strengthen its long-term production pipeline.

According to interim executive general manager Sandra Xiangjun Guan, MMG has already identified several projects of interest and is conducting technical assessments as part of its acquisition strategy.

While the targeted assets are not currently on the market, the company believes opportunities could emerge in the near future.

Focus on Africa’s Copper Potential

Africa, and particularly the Democratic Republic of Congo, is considered a key region for copper expansion due to its vast mineral reserves and growing importance in the global supply of energy-transition metals.

The DRC is already one of the world’s leading copper producers and plays a critical role in supplying metals used in electrification, renewable energy systems and electric vehicles.

Mining companies around the world are increasingly looking to expand their exposure to copper as demand rises rapidly.

 The metal is essential for power grids, battery technologies and the infrastructure required for the global energy transition.

Strong Financial Performance

MMG reported a strong financial performance in 2025, with net profit more than tripling to $509 million, marking the company’s best result since 2021.

The improvement was largely driven by stronger commodity prices and higher production at key operations.

However, the results still fell short of analysts’ expectations, which had projected net income of about $701 million.

Following the announcement, the company’s shares declined on the Hong Kong Stock Exchange.

Copper Market Momentum

MMG chairman Cao Liang said the copper market strengthened in 2025 due to rising demand linked to electrification and the rapid expansion of artificial intelligence data centers, both of which require large amounts of copper for infrastructure and power systems.

At the same time, precious metals have continued to attract investor interest amid global economic uncertainty.

Operations and Investment Plans

MMG recorded production growth at its major operations, including the Las Bambas Mine in Peru and the Dugald River Mine in Australia.

However, the company’s earnings were partly affected by an impairment charge linked to its Kinsevere Mine in the Democratic Republic of the Congo.

Despite these challenges, MMG continues to view Africa as a strategic region for future growth.

The company also plans to increase capital expenditure at the Las Bambas mine to between $800 million and $850 million this year to upgrade facilities and expand production capacity, taking advantage of stronger copper prices.

With global demand for copper expected to continue rising, MMG’s expansion strategy including potential investments in the DRC could play a key role in securing future supply for the rapidly growing energy transition sector.