Floods in Congo Impact Copper Supply

Zijin Mining faces challenging times in 2026 due to floods that led to a reduction in its copper production at the Kamoa-Kakula mine in the Democratic Republic of Congo, with an expected decline of 57,000 tons. This has caused overall production forecasts to be lowered, intensifying concerns about a potential global copper shortage, especially as demand continues to rise driven by expansion in electric transformation projects and growth in infrastructure for technologies like artificial intelligence. The supply decrease has pushed copper prices above $14,000 per tonne, approaching historic levels. The company aims to increase its copper production to 1.2 million tons across its various mines as part of its efforts to offset the impacts of the floods on output.

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