Copper production in the Democratic Republic of the Congo increased by 11.2 per cent from January to May this year compared with the same period last year cobalt production increased by 2.8 per cent

Published: Jul 10, 2019 09:45
The country produced 552044 tons of copper in the January-May period, up about 11.2 per cent from 496468 tons in the same period last year, the central bank said on Tuesday. Cobalt production in the January-May period was 44522 tons, up about 2.8 per cent from 43291 tons in the same period last year.

SMM7, 10 March: the Central Bank of the Congo said on Tuesday that copper production in the Democratic Republic of the Congo from January to May this year was 552044 tons, an increase of about 11.2 per cent over the same period last year, when 496468 tons were compared with the same period last year.

Cobalt production in the January-May period was 44522 tons, up about 2.8 per cent from 43291 tons in the same period last year.

Meanwhile, gold production fell 6.4 per cent to 13511 kg.

But the Congolese mining industry has not been calm in recent days.

On June 27, the KOV open-pit copper and cobalt mine in (KCC), the mining area of Glencore (Glencore) 's Kamoto copper company, partially collapsed, killing at least 43 illegal miners and expelling thousands.

The mine is one of Zambia's largest copper mines, with KCC producing 152400 tons of copper and 11100 tons of cobalt last year. Glencore's nearby Mutanda project produced 199000 tons of copper and 27300 tons of cobalt last year.

Artisanal mining on the edge of commercial mining areas is a major problem for the whole of Africa. Outdated and unregulated mining methods used by miners tend to endanger safety, so mining accidents in the Congo alone kill dozens of people each year.

As illegal miners refused to leave the mine, they gathered near the copper and cobalt mine to protest, and the Congolese army tried to disperse the crowd and sound warnings to the air.

The Lualaba provincial government of the KCC mine, where the mine is located, has made some concessions, promising to allow expelled miners to continue mining, but the miners still doubt whether there will be thousands more to be absorbed in the mine. "related news-illegal miners protested at the Glencore copper and cobalt mine in protest against the warning issued by the Congolese army

"Click to enter the registration page

Scan QR code and apply to join SMM metal exchange group, please indicate company + name + main business

 

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn
For more information on how to access our research reports, please contact:service.en@smm.cn
Related News
Bank of Canada Holds Rates but Signals Possible Hikes if Inflation Persists
3 hours ago
Bank of Canada Holds Rates but Signals Possible Hikes if Inflation Persists
Read More
Bank of Canada Holds Rates but Signals Possible Hikes if Inflation Persists
Bank of Canada Holds Rates but Signals Possible Hikes if Inflation Persists
The Bank of Canada chose to hold steady earlier this month, but Governor Macklem immediately warned that if inflation remains persistently high, the central bank does not rule out multiple consecutive rate hikes. The Riksbank currently belongs to the dovish camp and is expected to keep its key policy rate unchanged at 1.75% at its meeting later this month, though the market currently also expects its rate to rise later this year.
3 hours ago
US Treasury Yields Surge to 16-Year Highs Ahead of Fed Rate Decision
3 hours ago
US Treasury Yields Surge to 16-Year Highs Ahead of Fed Rate Decision
Read More
US Treasury Yields Surge to 16-Year Highs Ahead of Fed Rate Decision
US Treasury Yields Surge to 16-Year Highs Ahead of Fed Rate Decision
As the US Fed is about to announce its interest rate decision, the sell-off in US Treasuries has intensified, with the benchmark 10-year Treasury yield climbing to its highest level since 2007. The 30-year Treasury yield, which is more sensitive to geopolitical risks, also continued to rise, reaching as high as 5.40% during the session, a new high since June 2007; the 2-year Treasury yield rose about 4 basis points to 4.68%.
3 hours ago
Trump Administration Poised to Approve Deep-Sea Mining Permits for Critical Minerals
3 hours ago
Trump Administration Poised to Approve Deep-Sea Mining Permits for Critical Minerals
Read More
Trump Administration Poised to Approve Deep-Sea Mining Permits for Critical Minerals
Trump Administration Poised to Approve Deep-Sea Mining Permits for Critical Minerals
The Trump administration has signaled it is about to approve deep-sea mining permits, part of a broader effort to expand US access to critical minerals that are widely used across many sectors of the US economy.Interior Secretary Doug Burgum said at the G20 energy ministers' meeting in Houston that permits could be issued within months, as the administration pursues an "energy growth" strategy to expand supply chains for the US and its allies.
3 hours ago
Copper production in the Democratic Republic of the Congo increased by 11.2 per cent from January to May this year compared with the same period last year cobalt production increased by 2.8 per cent - Shanghai Metals Market (SMM)