China’s Zijin Mining Group Co. is exploring an expansion of its jointly-owned Kamoa-Kakula copper mine in the Democratic Republic of Congo (DRC), aiming to position it among the world’s largest copper producers.
Chairman Chen Jinghe revealed in an interview that the company intends to scale up the mine’s output to 1 million tons per year, significantly surpassing the current target of approximately 600,000 tons. This expansion would challenge BHP Group Ltd.’s aging Escondida mine in Chile. “Research is being conducted and we are making plans for 1 million tons,” Chen stated from Zijin’s headquarters in Xiamen, China.
The Kamoa-Kakula project is a joint venture with mining billionaire Robert Friedland’s Ivanhoe Mines Ltd. It is one of the few large-scale, high-quality copper mines that have come online in the last decade, coinciding with a growing demand for copper driven by green industries. This project is crucial to Zijin’s goal of becoming a top-three global copper producer.
Chen did not provide additional details about the expansion but noted the need for better investment management and cost reduction. He also highlighted challenges related to power supply, logistics costs, and transport bottlenecks.
Zijin and Ivanhoe each hold a 39.6% stake in Kamoa-Kakula, while the DRC government owns 20%. Zijin also holds over 10% of Ivanhoe.
Ivanhoe Mines confirmed via email that an updated life-of-mine engineering study for the Kamoa-Kakula Copper Complex is underway. “Timing and investment decisions on any future expansions, including the proposed Phase 4 expansion, will be guided by this new mine study, expected in Q1 2025,” the company stated.
The mine produced nearly 400,000 tons last year and is currently ramping up to more than 600,000 tons annually. Zijin has previously indicated ambitions for peak production of 800,000 tons.
In comparison, BHP’s Escondida mine produced about 1.07 million tons in 2023, while Freeport McMoRan’s Grasberg mine in Indonesia yielded approximately 750,000 tons last year.
