Kamoa-Kakula copper mine will start producing copper within a month

Published: May 5, 2021 08:19

The target date for the first copper concentrate production at Canada's Ivanhoe Mining Corporation's Kamoa-Kakula copper mine in (DRC), Democratic Republic of the Congo, has been advanced by several months and is expected to be in late May or early June. Copper production in the first stage is expected to be about 200000 tons per year, while the combined production of stages I and II is expected to be 400000 tons per year.

Kakula is expected to become the world's highest-grade major copper mine, with an initial annual mining capacity of 3.8 million tonnes, with an estimated early average feed grade of more than 6.0 per cent of copper and will reach 7.6 million tonnes by 2007.

The phased expansion scenario of the project is 19 million tons per year, which will position Kamoa-Kakula as the second largest copper mine complex in the world, with a peak annual copper production of more than 800000 tons.

Co-chairman Robert Friedlander (Robert Friedland) said the production of the Kakoula (Kakula) would mark "the beginning of a multi-generation copper mining area, which is made up of many high-end mines".

The first batch of ore is expected to start production by the end of May, sending lower-grade ore into the plant before the hot commissioning phase, and then raising the grade.

The project also met its pre-production inventory target of 3 million tons of high-and medium-grade ore, with an estimated mixed average copper content of 4.74 per cent.

Copper in stocks increased by about 23000 tons in April-a cumulative total of more than 140000 tons.

Mark Farren, chief executive of Kamoa, said: "as our current monthly mining speed exceeds the milling speed of the first stage, inventories are likely to grow further and can be refined only when the second phase of the concentrator begins operation in mid-2022."

Meanwhile, Kamoa-Kakula set another monthly mine development record in April, 3625 m ahead of schedule, bringing the total underground development volume to about 42.2 km, 15 km ahead of schedule.

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 to learn 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
Copper Prices Fell as Supply and Demand Both Strengthened; SHFE Copper Spot Discounts Stabilized at Current Levels [SMM Shanghai Spot Copper]
18 mins ago
Copper Prices Fell as Supply and Demand Both Strengthened; SHFE Copper Spot Discounts Stabilized at Current Levels [SMM Shanghai Spot Copper]
Read More
Copper Prices Fell as Supply and Demand Both Strengthened; SHFE Copper Spot Discounts Stabilized at Current Levels [SMM Shanghai Spot Copper]
Copper Prices Fell as Supply and Demand Both Strengthened; SHFE Copper Spot Discounts Stabilized at Current Levels [SMM Shanghai Spot Copper]
[SMM Shanghai Spot Copper] Copper prices opened lower with a gap in the night session yesterday, and some enterprises placed orders to restock at low levels. Intraday procurement demand increased somewhat, but considering that replenishment had already been concentrated the previous day, actual additional purchasing was limited. According to data released by SHFE on March 19, SHFE copper warrants decreased by 12,200 mt during the day, confirming that after copper prices pulled back, downstream buying-the-dip enthusiasm picked up, and the center of spot premiums moved higher accordingly. From the market structure perspective, the import profit window widened slightly, and expectations for subsequent inflows of cargo from outside China increased, which may put some pressure on the supply side. Overall, amid the tug-of-war between faster destocking and supplier selling, Shanghai spot copper premiums are expected to remain at the current level tomorrow.
18 mins ago
Copper Price Correction Drove Production of Copper Wire and Cable, but End-User Caution Curbed Order Growth [SMM Wire and Cable Market Weekly Review]
54 mins ago
Copper Price Correction Drove Production of Copper Wire and Cable, but End-User Caution Curbed Order Growth [SMM Wire and Cable Market Weekly Review]
Read More
Copper Price Correction Drove Production of Copper Wire and Cable, but End-User Caution Curbed Order Growth [SMM Wire and Cable Market Weekly Review]
Copper Price Correction Drove Production of Copper Wire and Cable, but End-User Caution Curbed Order Growth [SMM Wire and Cable Market Weekly Review]
54 mins ago
Transactions in the Copper Bar Market Were Mainly Driven by Rigid Demand
57 mins ago
Transactions in the Copper Bar Market Were Mainly Driven by Rigid Demand
Read More
Transactions in the Copper Bar Market Were Mainly Driven by Rigid Demand
Transactions in the Copper Bar Market Were Mainly Driven by Rigid Demand
[SMM Brass Bar Bulletin] According to SMM, affected by price fluctuations, copper billet enterprises mostly adopted a strategy of restocking when prices were low on the raw material side to control procurement costs; downstream enterprises maintained a procurement pace of purchasing as needed, with relatively cautious sentiment toward picking up goods. As a major brass billet production hub in China, Ningbo saw enterprise production and shipment pace remain stable, with a moderate overall market trading atmosphere, though wait-and-see sentiment increased.
57 mins ago
Kamoa-Kakula copper mine will start producing copper within a month - Shanghai Metals Market (SMM)