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
Anglo American completes demerger of Valterra Platinum
(Posted on 06/06/25)Anglo American plc has announced that it has completed the demerger of c.51% of the Company’s... Read more
Western Range iron ore mine in Pilbara opened with Yinhawangka owners
(Posted on 06/06/25)Rio Tinto has officially opened its newest iron ore mine, Western Range, with Western Australian Premier... Read more
Heidelberg presents Strategy 2030 to accelerate profitable growth
(Posted on 02/06/25)Heidelberg Materials has presented its “Strategy 2030: Making a Material Difference” at... Read more
Continued stability forecast for EU compound feed production
(Posted on 31/05/25)The European Feed Manufacturers' Federation (FEFAC) market experts have forecast continued stability... Read more
US grain and feed industry concerned about initial MAHA report
(Posted on 31/05/25)The Make America Healthy Again (MAHA) Commission has released a report that outlined potential contributors... Read more
First gallium extraction from Rio Tinto/Indium alumina refining process
(Posted on 15/05/25)Rio Tinto and its new partner Indium Corporation have successfully extracted the first primary gallium... Read more
Anglo American appoints Tom McCulley as Technical Director
(Posted on 15/05/25)Anglo American has appointed Tom McCulley as Technical Director. Tom McCulley’s appointment follows... Read more
SSAB invests $74 Million to expand steel production in Alabama
(Posted on 07/05/25)Highly-specialised global steel company, SSAB has announced a significant investment of approximately... Read more
GGC welcomes new Canadian government and urges farm priorities action
(Posted on 01/05/25)Grain Growers of Canada (GGC) has welcomed Prime Minister Mark Carney and all Members of Parliament... Read more
US Soybean growers disappointed in 2;4-D Anti-Dumping and Countervailing Duties vote
(Posted on 30/04/25)The International Trade Commission in the USA has voted in favour of imposing final anti-dumping (AD... Read more
