📽 HISTORY OF THE KAMOA-KAKULA COPPER COMPLEX ALONG THE LOBITO CORRIDOR IN THE DRC The Kamoa-Kakula Copper Complex is operated by Kamoa Copper S.A., a joint venture between Canadian mining company Ivanhoe Mines (which indirectly holds 39.6%), Chinese multinational mining company Zijin Mining Group (which indirectly holds 39.6%), and private Hong Kong-based company Crystal River Global Limited (which indirectly holds 0.8%). It began production in July 2021 and is currently undergoing its third phase of expansion, anticipated to be completed by the end of 2024, which consists of a 33% increase in copper production capacity. The complex has undergone phased expansions to increase its production capacity. The Phase 1 and Phase 2 concentrators have a combined design processing capacity of 9.2 million tonnes per annum, with an annual copper output of more than 450,000 tonnes per annum of contained copper by Q2, 2023. The Phase 3 expansion, with a 5 million tonne per annum concentrator plant, is expected to boost total copper production to approximately 600,000 tonnes per annum and is currently scheduled to begin operations by the fourth quarter of 2024. Since the Kamoa-Kakula Copper Complex began production it has paid over $600 million in taxes and royalties to the government of the DRC. In 2023 the mine was responsible for 4% of the DRC's GDP.
Watch a timeline video on what it took to produce first concentrate at Kamoa-Kakula's Phase 3 concentrator on June 10th, 2024. Ramp up to commerical production expected early in third quarter, taking total production capacity up to 600,000 tonnes per annum.💪 Link to full press release: https://lnkd.in/decH6sui
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Good to know!