Post #113

🇨🇩 China Tightens Grip on DRCongo 🌍 China’s CMOC is putting another $1 billion into expanding its Kisanfu project, targeting an extra 100,000 tonnes/years of copper. How strong is the Chinese presence in the DRC? 🔴 At the moment, Chinese companies already control from 35% to 40% of copper production in the DRC. ‼️ At the same time, despite all the government's attempts to pursue a multi-vector policy and flirt with the United States, American investors, some of whom sold their assets to the Chinese in the second half of the 2010s, have not yet come to the country. At least, they invest in processing, right? 🔴 Currently, there is only 1 truly large-scale anodic copper production project in the country. There is also a copper factory project at the Kamoa-Kakula deposit, but its launch is constantly delayed and is currently expected to happen in early November, though another delay can not to be ruled out. This means that the major amount of copper leaves the DRC in concentrates or ore. Although Kamoa-Kakula may become the largest project of its kind in Africa, its capacity will be only 1/3 of the existing exports of copper and copper concentrates to the DRC - that is, it is still very, very far from complete domestic processing. Devils Below