Copper Supply Disruptions Mount as Congo Halts Mine Operation Due to Radiation

Operations have been suspended at the La Compagnie Minière de Musonoie (COMMUS) copper and cobalt mine in the Democratic Republic of Congo due to concerns over excessive radiation levels in the cobalt produced there.

The mine, owned by Zijin Mining Group Ltd. and Gecamines, halted production earlier this week as government officials oversee testing of cobalt shipments that were exported and returned.

The COMMUS project in Kolwezi, Lualaba province produced 129,000 tons of copper and 2,200 tons of cobalt last year. Congo has some uranium deposits in its southeastern Katanga region which can occasionally lead to contamination. Cobalt is extracted as a by-product of copper mining.

Selkirk Copper Mines — sponsored Sponsored · Selkirk Copper Mines

The shutdown comes amid disruptions in the global copper supply, including the closure of First Quantum’s Cobre Panama mine and lowered guidance from Anglo American. China’s Zijin owns 72% of COMMUS, with Congo’s state mining company Gecamines holding the remaining 28% stake. Zijin also has an interest in Ivanhoe’s Kamoa-Kakula, Congo’s largest copper mine.

Meanwhile in Chile, Codelco is expected to see a dip in output this month after a fatal accident at its Radomiro Tomic mine. Chile’s Mining Minister Aurora Williams said Codelco’s April production “is probably going to go down a little” due to this disruption, though she expects a recovery in the third quarter. Codelco, battling to remain the world’s top copper producer, has seen output slump to 25-year lows.


Information for this story was found via Bloomberg, and the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Everybody Should Own Gold | George Bee – U.S. Gold Corp.

A $40M Company Created $2B in Mining Value | John-Mark Staude – Riverside Resources

The Debt Crisis Is Turning Gold Into Money | Shawn Khunkhun – Contango Silver and Gold

Recommended

Northmin Wins Competitive Bid for Historic Keel Zinc-Silver-Lead Deposit in Ireland

Brixton Hits 348 g/t Silver Over 23.5 Metres as Langis Shaft 6 Southeast Zone Extends South

Related News

Goldman Calls For $6.80/lb Copper As Prices Breakout

Copper closed out the week with a near 6% gain, after the critical metal broken...

Sunday, March 17, 2024, 11:49:00 AM

Copper, Gold To See ‘Immediate Price Boost’ From Potential Rate Cuts

Analysts at Goldman Sachs are projecting potential interest rate cuts by the US Federal Reserve...

Thursday, February 22, 2024, 02:14:00 PM

BHP: Rising AI Demand Could Trigger Copper Crisis by 2050

The rapid rise of artificial intelligence is transforming industries worldwide, but it may also create...

Wednesday, September 18, 2024, 02:49:00 PM

Why Copper Needs $6/lb Before New Mines Get Built | Altius Minerals with Brian Dalton

In this interview, Brian Dalton, CEO of Altius Minerals Corporation (TSX: ALS), provides comprehensive insights...

Wednesday, November 20, 2024, 03:01:00 PM

Surge Copper Raises $14.0 Million In Bought Deal Financing

Surge Copper Corp. (TSXV: SURG) today announced the closing of the company’s previously announced bought...

Thursday, June 10, 2021, 07:35:00 AM