Chinese mining giant CMOC announced a $1.08 billion investment to expand its Kisanfu Mining (KFM) copper project in the Democratic Republic of Congo, aiming to boost annual output by about 100,000 metric tons.
According to the company, phase two of the KFM project will begin in 2027, following the first phase’s full-capacity production in 2023.
The move comes as global copper markets face potential shortages, with disruptions affecting several major mines, including the suspension of Freeport’s Grasberg project in Indonesia.
CMOC holds a 71.25% stake in KFM through its Hong Kong subsidiary and also operates the Tenke Fungurume mine—both key suppliers of copper and cobalt, metals critical to the energy transition.
The group said the expansion would strengthen its position in the global market, while cautioning about price volatility and political and economic uncertainty in Congo.
MBM Digital with Reuters
