Chinese mining company CMOC Group Limited plans to double production from its copper projects in the Democratic Republic of the Congo over the next four years.
The company aims to produce 570,000 tons of copper in 2024 and up to 1 million tons by 2028 to meet the growing demand for electric vehicles applications. CMOC Group has invested $2.5 billion in a third-phase expansion at the Tenke Fungurume Mine and is also expanding the Kinsanfu Mine to achieve its production increase target.
The increase in copper production will also boost CMOC Group’s cobalt output. The firm plans to raise cobalt production from 55,000 tons in 2023 to between 90,000 and 100,000 tons by 2028.
