TMS Awards 2021Cleveland Cascades LtdBühler GmbHThe Wolfson Centre for Bulk Solids Handling Technology CimbriaVigan
  • Cleveland Cascades Ltd
  • Port of South Louisiana
  • Telestack
  • Van Aalst
  • TBA Group
  • Coaltrans Asia 2021

Kamoa Copper signs off-take agreements

Kamoa Copper signs off-take agreements

(Posted on 14/06/21)

New agreements will allow Kamoa Copper to export blister and concentrate copper locally through Lualaba Copper Smelter, and internationally through CITIC Metal and Zijin Mining Group.

The Chairman of the Board at Kamoa Copper S.A., Ben Munanga, has announced that Kamoa Copper has signed copper concentrate and blister copper offtake agreements, on competitive arm's-length commercial terms, for 100% of Kamoa’s phase 1 copper output (copper concentrate and blister), which is anticipated to be approximately 200,000 tonnes of copper per year.

Kamoa Copper signed off-take agreements with CITIC Metal (HK) Limited (CITIC Metal) and Gold Mountains (H.K.) International Mining Company Limited, a subsidiary of Zijin Mining Group, for 50% each of Kamoa’s copper products from phase 1. The remaining 50% of products will go to a multiple of other partners. The demand for Kamoa’s copper is due to its clean, high-grade concentrate, is estimated to contain roughly 57% copper and very minimal levels of contaminants.

Munanga commented that “We are very pleased to have reached agreements with our partners CITIC Metal and Zijin at internationally-competitive terms. The agreements reflect the great partnership we have with CITIC Metal and Zijin, and the advance payment facilities significantly reduce the mine’s working capital requirements as Phase 1 production ramps up.”

Kamoa Copper started copper production on 25 May 2021, and on 1 June 2021 delivered its first concentrate to the Lualaba Copper Smelter nearby, outside Kolwezi. Kamoa Copper signed a 10-year agreement with the Lualaba Copper Smelter (LCS) on 31st May, for the processing of approximately 40% of Kamoa’s copper concentrate production. This agreement is followed by the conclusion of a strategic partnership with Ivanhoe Mines and the China Nonferrous Metal Mining Group (CNMC) and is in keeping with Kamoa’s commitment to in-country beneficiation.

The smelter, which began operations in early 2020, will process up to 150,000 wet metric tonnes of Kamoa’s copper concentrate at a market-based fee. LCS will locally produce blister copper containing approximately 99% copper that will be collected by Kamoa from LCS’s storage facility. LCS has been developed in the Democratic Republic of Congo as the first modern, big, pyro-metallurgical copper smelting plant and located about 40 kilometres from Kamoa, along a recently constructed road.

Rochelle de Villiers, Kamoa Copper’s CFO, who is leading the concentrate off-take and marketing negotiations, stated: "Kamoa Copper is pleased to have concluded an agreement with LCS, which will make up about 40% of the total volumes of concentrate produced by phase 1, making the most of available in-country smelter capacity. We look forward to a long-term collaboration with our new partner."

Kamoa’s off-take agreements with CITIC Metal (HK) Limited (CITIC Metal) and Gold Mountains (H.K.) International Mining Company Limited, a subsidiary of Zijin Mining Group include both concentrate exports (60%) and blister copper ingots from LCS (40%).

Kamoa Copper S.A. is expected to yield an exceedingly high-quality, clean copper concentrate, desirable for smelter across the globe.

Latest News

thyssenkrupp sells mining business to FLSmidth

(Posted on 29/07/21)

thyssenkrupp has announced the sale of its Mining Technologies business unit to the Danish company FLSmidth... Read more


Rio Tinto progresses studies for underground mining at Kennecott

(Posted on 26/07/21)

Rio Tinto has approved a $108 million investment in underground development to enable early orebody... Read more


En+ Group sustainability report sets new targets

(Posted on 20/07/21)

En+ Group, the world’s largest producer of low carbon aluminium, has published its 2020 Sustainability... Read more


Rusal to supply Rheinfelden with low carbon aluminium

(Posted on 15/07/21)

Rusal, a leading global aluminium producer, has announced that it will supply its plant Aluminium Rheinfelden... Read more


Largest Korean steel producer and Rio Tinto sign climate MOU

(Posted on 11/07/21)

Rio Tinto and POSCO, the largest steel producer in South Korea and one of the world’s leading... Read more


BHP announces divestment of Cerrejón interest

(Posted on 05/07/21)

BHP has announced that it has signed a Sale and Purchase Agreement with Glencore to divest its 33.3... Read more


Galena fund: first for commodities industry

(Posted on 01/07/21)

Galena Asset Management, a wholly-owned investment subsidiary of Trafigura, one of the world’s... Read more


Force majeure declared at Richards Bay Minerals

(Posted on 01/07/21)

Rio Tinto has declared force majeure on customer contracts at Richards Bay Minerals (RBM) in South Africa... Read more


Rio Tinto to drive decarbonisation with Schneider

(Posted on 28/06/21)

Rio Tinto, a leading global mining and metals company, and Schneider Electric, the leader in digital... Read more


Rio Tinto deploys first fully autonomous water trucks

(Posted on 22/06/21)

Rio Tinto will deploy the world’s first fully autonomous water trucks at its $2.6 billion Gudai... Read more


Van AalstTBA GroupTelestackCoaltrans Asia 2021TOC EventsPort of South Louisiana
  • Port of Stockton
  • Vigan
  • TOC Events
  • TMS Awards 2021

Subscribe to our newsletter

Keep up to date with the latest global news in bulk cargo handling and shipping