By Peter Sinkamba
DRC ON COURSE TO OVERTAKE PERU AS SECOND LARGEST PRODUCER OF COPPER
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Democratic Republic of Congo has been making huge strides in the production of copper in the last few years.
Production is largely propelled by high-grade ore now being tapped by Ivanhoe Mines Ltd. in Kamoa-Kakula.
DRC exports have more than doubled since 2018 to 2.4 million tons.
Peru shipped 2.2 million tons.
While copper mines in Congo have also faced disruptions, such as a prolonged export halt at Tenke Fungurume, that has not halted its growth.
It is unclear if this is a temporary blip or a more long-lasting reordering. Much will depend on whether Peru can garner political consesus to bring on new projects and prevent disruptions.
In terms of production, the two nations are neck and neck, according to Peru’s mining ministry and Congo’s central bank.
Consulting firm Wood Mackenzie said this week that Congo would only fully take over Peru in terms of production by 2026 or 2027
