The expansion comes at a time when the global copper supply is under pressure due to production disruptions at several major mines worldwide, including the temporary suspension of Freeport’s Grasberg project in Indonesia. These challenges have raised concerns about a potential copper shortage, given the metal’s essential role in power infrastructure, electric vehicles, and renewable energy systems.
CMOC holds a 71.25% ownership stake in the KFM project through its Hong Kong-based subsidiary. The company also operates the Tenke Fungurume mine in the DRC, another significant source of copper and cobalt. Both KFM and Tenke Fungurume are considered key contributors to global supply chains supporting the ongoing energy transition.
According to CMOC, the KFM expansion project will further enhance its competitiveness in the global copper market and strengthen its production portfolio. The company emphasized that the investment aligns with its strategy to ensure long-term resource security and stable supply to meet rising demand for critical minerals used in clean energy technologies.
However, CMOC also noted potential risks associated with the expansion. These include fluctuations in global commodity prices and uncertainties related to the political and economic environment in the DRC. Despite these challenges, the company expressed confidence in its operational experience and ongoing cooperation with local stakeholders to support the project’s development and sustainability.
Once the second phase is completed, KFM’s total production capacity will significantly increase, contributing to CMOC’s broader goal of consolidating its position as one of the world’s leading copper and cobalt producers. The expansion is also expected to create local employment opportunities and enhance regional economic activity through the development of supporting infrastructure and services.
The KFM mine, located in the DRC’s mineral-rich Copperbelt region, is among the country’s most important copper and cobalt assets. CMOC’s continued investment reflects the strategic importance of the DRC in global mineral supply chains, particularly for materials critical to electric mobility and renewable energy applications.
By advancing the second phase of KFM, CMOC aims to maintain production stability, meet growing industrial demand, and contribute to the sustainable development of the global copper industry.
