Mining Review Africa
Global copper mine production will experience steady growth over the next few years, supported by markets with low operating costs and improving copper prices. We forecast global production to increase by an average annual rate of 3.6% over 2018-2027 as several key new projects and expansions come online.
In terms of volume, we expect global copper output to climb from 20.4 Mt in 2018 to 28 Mt by 2027. Following a modest contraction in 2017 due to operational disruptions, elevated copper prices will incentivise project development, particularly in key countries such as Chile, Peru and Australia.
The Democratic Republic of Congo
The DRC’s production will maintain solid growth over the coming years, supported by continued investment, high-grade reserves and improving copper prices. We forecast the DRC’s production to increase from 1 Mt in 2018 to 1.9 Mt by 2027.
In February 2017, Glencore its shares the Mutanda and Katanga copper-cobalt operations in the DRC, to 100% and 8 6%, respectively. While the country boasts a solid project pipeline and will benefit from rising copper prices, we highlight downside risks from regulatory uncertainty.
First, in March, the DRC signed into law a new mining charter that will increase royalty rates from 2% to 3.5% and on strategic metals, including cobalt, from 2% to 10%.
For the rest of this report: https://www.miningreview.com/copper-solid-project-pipeline-drive-global-growth/