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Copper November 24, 2021 09:55:38 PM

Zijin Mining Announced Plans to Invest in Gigantic DRC Copper Smelter

Paul Ploumis
ScrapMonster Author
The proposed $769 million copper smelter project, once constructed, would be the largest copper smelter in Africa and one of the largest single-line smelters in the world.

Zijin Mining Announced Plans to Invest in Gigantic DRC Copper Smelter

SEATTLE (Scrap Monster): Chinese Zijin Mining announced that its board has approved plans to invest in copper smelter for its Kamoa Kakula project alongside Ivanhoe Mines in the Democratic Republic of Congo (DRC). The new venture will significantly reduce its dependence on third-party smelters. The construction of the plant will be completed in almost three years.

The proposed $769 million copper smelter project, once constructed, would be the largest copper smelter in Africa and one of the largest single-line smelters in the world. The basic engineering contract of the half-a-million tonne per year direct-to-blister plant has already been awarded to China Nerin Engineering Co.

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The initial phase of the project is expected to produce around 200,000 tonnes of copper per year. The second phase of expansion, which will boost the output to 400,000 tonnes, is on track to be completed in the second quarter next year. Upon full capacity, the plant will be capable to produce over 800,000 tonnes per year, thus making it the world’s second largest copper mining complex after Escondia, Chile.

Ivanhoe and Zijin will have 39.6% ownership each in the project. Also, the DRC government will have 20% ownership. The remaining 0.8% ownership will be held by Crystal River Global Limited, said the company press release.

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