Railway operator Lobito Atlantic Railway exported (https://apo-opa.co/4e3BWX2) its first shipment of copper from the Democratic Republic of the Congo to the U.S. in August 2024, strengthening Africa’s contribution to the growing global demand for the critical mineral. With the global copper supply gap projected to reach 10 million metric tons by 2030, African projects are poised to play a crucial role in addressing the shortfall.
As such, the upcoming Critical Minerals Africa (CMA) 2024 summit – the premier meeting platform for African energy projects and global investors – will showcase lucrative prospects across the continent’s copper value chain. A dedicated panel discussion at CMA 2024 will provide updates on ongoing projects aimed at expanding African production while fostering economic growth and supporting the global energy transition.
The Critical Minerals Africa 2024 summit on November 6 – 7 serves to position Africa as the primary investment destination for critical minerals. The event is held alongside the African Energy Week: Invest in African Energy 2024 conference (https://AECWeek.com/) on November 4 – 8, offering delegates access to the full scope of energy, mining and finance leaders in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@energycapitalpower.com.
The Democratic Republic of the Congo (DRC) – the world’s third-largest copper producer – in partnership with Canadian firm Ivanhoe Mines (https://apo-opa.co/4d0hxRk), commissioned the Phase 3 concentrator at the Kamoa-Kakula Copper Complex (https://apo-opa.co/3XHpQx2) last month. The expansion is set to boost the mine and the country’s annual copper output by 150,000 tons. Ivanhoe Mines also restarted production at the high-grade Kipushi zinc-copper mine in July 2024, increasing the DRC’s copper output by 140,000 tons.
Chinese miner CMOC is undertaking a $2.5 billion third-phase expansion at the Tenke Fungurume and Kinsafu Mines, with aims to double copper production in the DRC over the next four years. Meanwhile, Swiss company Glencore (https://apo-opa.co/3MFYnp6) is implementing advanced technologies to enhance exploration and production at its KTO Copper and Cobalt Mine near Kolwezi, with a target of increasing production to 300,000 tons per annum.
Zambia (https://apo-opa.co/3XA3Zax) – Africa’s second-largest copper producer – has set a target to increase production to 3 million tons by 2030, leveraging strategic partnerships with global investors. The country is maximizing its copper value chain through a series of projects in partnerships with global firms such as Galileo Resources, Tertiary Minerals, Vedanta Resources, Jubilee Metals, KoBold Metals and Xtract Resources. In July 2024, Ivanhoe Mines (https://apo-opa.co/4d0hxRk) resumed production at the Mopani Mine – following 30 years of project maintenance – adding up to 140,000 tons of copper and zinc concentrate to Zambia’s total annual output.
In addition to the DRC and Zambia, countries including Zimbabwe, South Africa, Mauritania, Namibia and Morocco are also advancing projects rollout. At this year’s CMA 2024 summit, African policymakers, industry stakeholders and global investors will discuss ongoing efforts to position the continent as a leader in critical copper production.
Distributed by APO Group on behalf of Energy Capital&Power.
