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The Democratic Republic of Congo (DRC) has surpassed Peru as the world’s second-largest copper producer. A recent report shows that the DRC’s production of copper in 2023 surpassed that of Peru, which prior was the world’s largest copper producer, second only to Chile. DRC is one of Africa’s richest mineral producers, with substantial reliance on its copper trade.
According to Statista’s early estimates, Chile, the world’s largest copper producer, was projected to produce 5,3 million tonnes in 2023. Peru’s estimates were 2,6 million tonnes and 2,5 million tonnes for DRC. However, reports show that DRC’s production reached 2,8 million tonnes.
The Ministry of Mines in the DRC, as seen in the Russian news publication Sputnik, noted that the DRC’s copper production in 2023 amounted to approximately 2,84 million tonnes.
A report by Mining Journal showed that Peru achieved a record production of 2,76 tonnes of copper in the same period under review, 12,7 percent more than it did in 2022. Peru’s Minister of Energy and Mines, Romulo Mucho, disclosed recently that he anticipates the copper output of his country to reach 3 million tonnes by 2024.
Given copper’s importance to renewable energy, the DRC has been fast-tracking its copper production. In October 2023, the country invested US$850 million in a road project. The road connects copper and cobalt mines in the DRC, Zambia, and an East African port.
Additionally, the DRC is one of the richest mineral-producing countries in Africa, with copper being one of its main exports, as a result, the mining of this precious mineral attracts a lot of foreign investments. As a result, Chinese investors controlled the mining sector in 2020 by about 70 percent, according to S&P Global. — Business Insider Africa
Peter Tanyanyiwa
Online Reporter