DRC’s Copper Production Surges to Record 45,019 Tonnes in November, Poised to Become World’s Second-Largest Producer

Ivanhoe Mines has achieved a historic milestone with the Kamoa-Kakula Copper Complex in the Democratic Republic of the Congo (DRC), producing a record 45,019 tonnes of copper in November 2024.

This achievement highlights the rapid progress in the ramp-up of the Phase 1, 2, and 3 concentrators, which processed 1.2 million tonnes of ore at an average feed grade of 4.58% copper.

The latest figures set the Kamoa-Kakula mine on track to meet an annualized production rate of approximately 550,000 tonnes of copper by the end of the year, a remarkable feat for one of the world’s most significant copper mining districts.

In total, copper production at the complex has reached 390,061 tonnes for the year through November 30, 2024, reinforcing the DRC’s role as a key player in the global copper market.

The successful ramp-up of the Phase 3 concentrator has contributed significantly to this surge, achieving a 90% recovery rate over 24 hours—a critical milestone in the project’s path to becoming a global copper powerhouse.

Global Market Impacts and Congolese Economic Growth

The ramp-up in production at Kamoa-Kakula has profound implications both for the global copper market and for the Congolese economy.

The DRC, which already ranks as one of the top producers of copper, is set to surpass Peru in 2024, cementing its position as the world’s second-largest copper producer. Benchmark Mineral Intelligence forecasts that the DRC will produce 2.9 million tonnes of copper in 2024, overtaking Peru’s projected output of 2.8 million tonnes.

This surge in copper production is poised to contribute significantly to the DRC’s economic growth, as the country benefits from higher export revenues and increased foreign investment in its mining sector. Robert Friedland, Executive Co-Chairman of Ivanhoe Mines, commented on the complex’s continued growth: “Kamoa-Kakula’s production continues its acceleration into year-end… there is more copper to come from this world-leading mining district as the growth story is only just beginning.”

The economic benefits extend beyond the mining industry. The Kamoa-Kakula complex is a key part of the DRC’s broader mining strategy, which aims to strengthen the country’s position in the global commodities market and generate significant revenue for infrastructure development and social programs.

Lobito Atlantic Railway Upgrade: A New Chapter for Congolese Exports

In tandem with production growth, the DRC is improving its logistical infrastructure to support increasing copper exports.

The Lobito Atlantic Railway, which plays a critical role in transporting copper from the DRC to global markets, has received its first batch of 275 new container wagons.

These wagons, with a capacity of up to 60.5 tonnes, will significantly increase the efficiency of the railway system, facilitating smoother and faster transport of copper to the Lobito port in Angola for export.

The upgrade was further bolstered by the approval of a $553 million loan from the U.S. International Development Finance Corporation to Trafigura-led consortium operating the railway.

The investment, which will see weekly deliveries of new container wagons until 2026, is expected to enhance the DRC’s export capacity, ensuring a reliable supply chain for the growing global demand for copper.

Looking Ahead: DRC’s Bright Future as a Global Copper Powerhouse

With Kamoa-Kakula continuing to ramp up production and the Lobito Atlantic Railway receiving crucial upgrades, the DRC is positioned to become a major driver of copper supply in the global market.

As copper demand increases driven by sectors such as electric vehicles and renewable energyThe DRC’s role as a key supplier will only grow stronger.

Marna Cloete, President of Ivanhoe Mines, expressed confidence in the complex’s long-term prospects: “The growth story is only just beginning as we grow into a production capacity of 600,000 tonnes per annum.”

With the DRC’s copper production accelerating at such a rapid pace, the country’s economic trajectory is poised for a transformative shift, bringing prosperity to both the mining sector and the wider Congolese economy.