China Molybdenum announced on June 30th that it will invest USD1.826 billion in building KFM Copper and Cobalt Project (Phase One) in Democratic Republic of the Congo. The project, which prepared to start building in March 2021, is expected to go into production in the first half of 2023. It will mainly produce copper cathode, crude cobalt hydroxide and copper and cobalt sulfide concentrate and is expected to add 90,000tpy of copper metal and 30,000tpy of cobalt metal after realizing full production.