Copper production in the Republic of Congo may be reduced by 18% this year due to mine closure and blockade

SMM: Fitch solution (Fitch Solutions) said on Wednesday that copper production in the Democratic Republic of the Congo could fall by 18% this year, as mine operations were disrupted by mine closures and blockades to stop the spread of the Xinguan epidemic.

It expects Congolese copper production to rise from 1.3 million tonnes last year to 1.7 million tonnes by 2029, driven by rising copper prices and overseas investment, as miners seek to profit from the country's high-grade reserves.

Globally, copper production is likely to fall by 2.5 per cent this year, according to Fitch.

"High-grade copper deposits will become increasingly important as ore grades are declining and extraction costs are increasing in some of the world's largest mines, such as Antamina in Peru, Escondida in Chile and Grasberg in Indonesia," Fitch said.

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