THE increasing demand for copper and cobalt, essential for lithium-ore batteries, is positioning Africa to have a significant impact on global supply chains as nations transition to a renewable energy future. According to a 2023 Battery Metals report by Creamer Media, global copper production is projected to rise by an average of 3.2 percent per year between 2022 and 2031, with output increasing from 2.1 million tons to 28.2 million tons annually. Africa, rich in copper and cobalt, among other critical minerals, is set to take a dominant role in these global supply chains, with several projects expected to contribute significantly to output.
The report highlights notable copper projects in Africa, including:
- Kamoa-Kakula Copper Project (DRC): Owned by a joint venture involving Ivanhoe Mines, Zijin Mining Group, Crystal River Global, and the DRC Government, this project is considered one of the world’s largest undeveloped high-grade copper discoveries. With measured resources of 90 million tons and probable mineral reserves of 235 million tons, it aims to reach peak production of 800,000 tons per year, becoming the second-largest copper complex globally.
- Tenke Fungurume Mine (DRC): Owned by CMOC and DRC state-owned mining company Gécamines, plans have been announced to double production with a $2.51bn investment. This would increase copper output from 183,000 to 383,000 tons per year and cobalt output from 15,400 to 32,400 tons per year, bringing total mineral production to 415,400 tons per year.
- Okiep Project (South Africa): Located in South Africa’s Northern Cape province, the Okiep project is undergoing feasibility and exploration programmes. Current estimates indicate mineral resources of 11.5 million tons grading 1.4 percent copper, with a projected production of 386,000 tons per year of copper concentrate over a 12-year mine life.
- Kamoto Copper Company (DRC): Owned by Glencore, Gécamines, and Simco, this company is the world’s largest cobalt producer. It aims to achieve an annual capacity of 300,000 tons of copper and 30,000 tons of cobalt, resulting in a total mineral production of 330,000 tons per year.
- Sentinel Mine (Zambia): This open-pit copper mine, owned by First Quantum Minerals, has substantial resources and reserves. It produced 242,451 tons of copper in 2022 and is expected to produce between 260,000 and 280,000 tons in 2023.
Other notable mining projects include the Kansanshi mine and Mopani mine in Zambia. The Kansanshi mine is currently the largest copper producer in Africa and has expansion plans to reach an average annual production of 250,000 tons. The Mopani mine, owned by ZCCM Investment Holdings, has the potential to produce 225,000 tons of copper per year, contingent upon a $300 million investment for underground expansion.
To further explore these critical mineral projects, the Critical Minerals Africa (CMA) summit will be held in Cape Town from October 17-18, coinciding with African Energy Week, the continent’s largest energy event. The summit serves as a significant gathering for critical minerals deals, bringing together global consumers, producers, capital, and buyers to African projects.
As the demand for battery metals grows, Africa’s substantial copper and cobalt reserves position the continent to play a pivotal role in meeting global supply needs for a renewable energy future.
