https://www.miningweekly.com

Peru seen losing title of No 2 copper producer soon to DRC

Ivanhoe's Kamoa-Kakula mine will help return the DRC to copper heavyweight status.

Ivanhoe's Kamoa-Kakula mine will help return the DRC to copper heavyweight status.

31st May 2023

By: Bloomberg

  

Font size: - +

Peru is expected to lose its mantle as the world’s No. 2 copper-producing nation to the Democratic Republic of Congo (DRC) by 2026 to 2027, according to consulting firm Wood Mackenzie.

“Already the Democratic Republic of the Congo has practically matched Peru’s production,” Ruben Arratia, a director at the firm, told an industry event in Lima on Tuesday. “In the next few years they will share second place.”

Peru became the biggest producer after neighboring Chile in 2016 on the back of a surge of new projects. But production and investment has been curtailed in recent years by political and social instability. At the same time, Ivanhoe Mines is ramping up the Kamoa-Kakula mine, helping return the DRC to copper heavyweight status.

While Peru has 18 mining projects in its pipeline, only one of those may be developed in the short term, Arratia said. “If Peru doesn’t develop its projects, then it will no longer be the world’s second-copper producer,” he said.

Adding to those pressures, Arratia said the DRC has higher ore grades than Peru, meaning more copper can be extracted from a lower volume of rock.

Edited by Bloomberg

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Hanna Instruments (Pty) Ltd
Hanna Instruments (Pty) Ltd

We supply customers with practical affordable solutions for their testing needs. Our products include benchtop, portable, in-line process control...

VISIT SHOWROOM 
Iritron
Iritron

Iritron delivers advanced automation, control, and optimisation solutions to the Mining, Minerals & Metals, Consumer Package Goods and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.045 0.866s - 111pq - 2rq
Subscribe Now