CMOC to invest USD1.08 billion in KFM Phase II Copper Project

China Molybdenum Co., Ltd. (CMOC) has received board approval for an investment of up to USD1.08 billion in the Phase II of its KFM copper project in the Democratic Republic of the Congo (DRC). Construction would take two years, with commissioning expected in 2027 and a planned service life of 15 years.

The Phase II will add sulfide ore processing capacity of 7.26 million tonnes per year and extend the existing hydrometallurgical plant from Phase I. Once in full operation, the project is expected to produce an additional 100,000 tonnes of copper per year, mainly in copper cathode form.

KFM is one of the world's largest and highest-grade producing copper mines. CMOC holds a 71.25% indirect stake in the project. Phase I reached full production in 2023, while Phase II will build a new line for deep sulfide ore and upgrade the Phase I concentrator with mixed-ore flotation facilities.