30 May 2025 | Other

Kamoa-Kakula mine flooding threatens global copper supplies

Kamoa-Kakula mine flooding threatens global copper supplies

Ivanhoe Mines’ Kamoa-Kakula complex in the Democratic Republic of Congo is one of the world's key copper sources. However, the current status of the facility remains unclear, Bloomberg reports.

Nevertheless, some details about the complex have emerged. Water levels have risen after the Kakula underground mine's electrical infrastructure was damaged and pumping ceased. Chinese partners of Ivanhoe, such as Zijin Mining Group Co. and CITIC Metal, are assisting in procuring the necessary equipment to address the challenges, Bloomberg notes.

The affected mine accounts for approximately 70% of current copper production at the complex. According to Citigroup analysts, the mine flooding could halt operations at Kamoa-Kakula until at least Q4, 2025. However, after water drainage from the shaft, the metal output may recover without significant additional costs.

Bloomberg-surveyed analysts project global refined copper production to decline by 84,000–275,000 tons in 2025. This could offset a substantial part of the International Copper Study Group's forecast surplus of 289,000 tons for this year.

Anton Volkov MarketCheese
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