KEY POINTS
- Zijin Mining plans to expand Congo’s Kamoa-Kakula copper mine to 1 million tons annually.
- The project is a joint venture with Ivanhoe Mines and the DRC government.
- The mine could compete with the world’s largest copper mines, like BHP’s Escondida.
China’s Zijin Mining Group is set to ramp up its copper mine in the Democratic Republic of Congo (DRC).
The mine known as Kamoa-Kakula is already one of the largest producers of copper globally, but Zijin now aims to increase its output. At its full capacity of production, the mine could deliver up to 1 million tonnes of copper yearly compared to global giants such as BHP’s Escondida mine in Chile.
During an interview, Zijin’s chairman, Chen Jinghe, disclosed that the Kamoa-Kakula mining firm is in the process of preparing to expand beyond the targeted 600, 000 tonnes per year.
“We are in the process of researching and working on our plans,” Chen said, although there are several problems yet to be solved like the investment costs, the power supply and the transhipment issues.
Partnerships and ambitions
According to Mining.com, the Kamoa-Kakula mine is a partnership project between Zijin Mining Company and Ivanhoe Mines owned by mining tycoon Robert Friedland.
Each company has an ownership of 39.6% of the mine with the government of the DRC having 20%. Kamoa-Kakula is one of very few large-scale copper greenfield projects that began operating in the last decade at a time when green industries require copper the most.
The management of Ivanhoe Mines has recently declared that the Kamoa-Kakula complex is currently being audited for a new study. Phase 4 is expected to take production up to over a million tons per year; however, the timeline and investment for these subsequent phases will require a separate new study expected in early 2025.
Competition with the world’s largest mines
If Kamoa-Kakula plans to meet its goal it has the potential of reaching the status of the world’s largest copper mines. At present, Escondida in Chile belonging to BHP company is the largest copper producer and provides more than one million tons of copper per year.
Other large copper mines including Indonesia’s Grasberg produced about 750000 tons last year. Kamoa-Kakula has plans to ramp up production with Phase 3 aiming towards annual production of over 600 000 tons very soon after having produced close to 400,000 tons in 2023.
Zijin is planning to move up to being one of the top three copper producers in the world because the demand is expected to rise with renewable energy and electric vehicles.
