The Kamoa-Kakula complex produced 45,019 tonnes of copper concentrate in November 2024. Ivanhoe Mines, the facility’s owner, disclosed the output on December 3; it is the highest monthly volume produced this year. From January to November 2024, the Congolese complex delivered 390,061 tonnes of copper concentrate.

Since the commissioning of a third concentrator at the site last June, Kamoa-Kakula has consistently broken its monthly production records. The mine is expected to deliver between 425,000 and 450,000 tonnes in 2024, compared to 393,551 tonnes in 2023. The complex is set to produce even more next year than this year. Kamoa-Kakula has recently achieved an annual production capacity of 600,000 tonnes.

Kamoa-Kakula is a joint venture with Zijin Mining (39.6% stake), China CITIC Bank, and Ivanhoe Mines as its major investors; Ivanhoe is the largest shareholder (39.6% stake). While the mine's production is subject to sales agreements with Chinese companies, the Congolese government has recently expressed its intention to participate in the buyer selection process. 

"The State must get involved so that it can guarantee the credibility of the organized bidding process and be confident that any future buyer selection process will enable Kamoa Copper SA to receive competitive bids and obtain the best possible terms for the sale of its products," states the minutes from the Council of Ministers meeting held on October 4.

The increase in copper production at Kamoa-Kakula is part of a broader upward trend in Congolese copper output. Following a 13.5% increase in 2023, BMI forecasts that DRC copper production will grow by a more modest 4.5% in 2024, bringing total output closer to 3 million tonnes. With Peru targeting 2.8 million tonnes this year, the DRC is set to maintain its symbolic status as the world's second-largest copper producer.

Emiliano Tossou