Africa’s Largest Copper Producers Eye Profits from Metal Trading
With the upcoming Mining Indaba conference on the horizon, the Democratic Republic of Congo and Zambia, two of Africa’s largest copper producers, are actively seeking deals to capitalize on metal trading opportunities. Together, these countries supply over 13% of the global copper market, and as demand for copper rises due to advancements in artificial intelligence and cleaner energy technologies, they are eager to maximize their market share.
Congo’s state-owned mining company, Gecamines, is currently in the final stages of negotiations with Glencore to establish a partnership for trading copper from the Kamoto Copper Company. This strategic move to gain greater control over copper resources is expected to be a major topic of discussion at the Mining Indaba conference, underscoring the ongoing tensions between national interests and the interests of international investors.
Key Points:
- Africa’s largest copper producers, the Democratic Republic of Congo and Zambia, are working towards securing profitable deals in metal trading.
- Together, these countries supply over 13% of the global copper market, with increasing demand driven by AI and cleaner energy technologies.
- Congo’s Gecamines is close to finalizing an agreement with Glencore for trading copper from the Kamoto Copper Company.
- The push for greater control over copper resources is expected to be a prominent issue at the upcoming Mining Indaba conference, highlighting the complexities of balancing national interests and international investments.
Source: Reuters
