Who is the Largest Miner of Copper in Sudan?
Largest Miner of Copper in Sudan
The Democratic Republic of Congo (DRC) is one of the world’s largest copper producers. It also produces bauxite, a raw material for aluminium, and gold. According to the International Energy Agency, global copper demand will double over the next 20 years, and clean energy applications could account for 45% of overall demand. In 2010, Chinese companies held a minority stake in the Kamoa-Kakula copper project, which is expected to become the world’s biggest copper mine by 2020. It is jointly operated by Ivanhoe Mines and Zijin Mining. In December 2015, Zijin acquired a 50% share of the project for USD 412 million. It will start production in late 2020, and expects to add a significant new dimension to the DRC industry.
In 1990, the mining sector of Sudan accounted for less than one percent of the country’s GDP. The country’s total mineral reserves were estimated at around 1.1 billion tonnes, of which more than 870 million tonnes were considered to be unexploited. In the 1980s, the civil war in the country resulted in the halt of chrome and ferrochrome production. The rest of the ore was exported to Western Europe and Japan. However, the situation improved significantly in the early 2000s. It is estimated that the country has four large iron ore deposits, which could be exploited for profitable long-term operations.
The country’s economic crisis is attributed to the decrease in oil prices. As a result, the Sudanese government sought strategies to revive the country’s mining industry. In addition to oil, Khartoum adopted a number of strategies to make mining a profitable business. These strategies included encouraging the development of industrial production, as well as reorganizing the gold trade.
Who is the Largest Miner of Copper in Sudan?
During the 1990s, a joint venture company was formed between the Sudanese Mining Corporation and several French mining companies. The companies were given permission to explore for mineral deposits in the northern state of West Kordofan. The exploration efforts resulted in the discovery of an extensive mineralization, which includes zinc, lead, and gold. The deposit was initially known as the DFI. Other nonhydrocarbon minerals of actual or potential commercial value were manganese, asbestos, and iron.
Why to Invest in Copper Mining
The DFI deposit is currently owned by Ivanhoe Mines, and it is believed to contain the highest grade of copper in the world. The Kamoa-Kakula copper deposit is a joint venture between Ivanhoe and Zijin Mining, which is expected to add a significant new dimension to the Democratic Republic of Congo’s copper industry.
The Kamoa-Kakula project is estimated to contain an average 5.5% Cu, and is expected to produce 1.3 million tonnes of copper by the end of 2020. The project will likely increase the position of Chinese companies in the DRC as more projects come online. The DFI deposit is 57 square kilometers in size, and contains extensive mineralization. RC drilling has been completed on the JO, and preliminary metallurgical testing was performed on two holes.
The government of Sudan hopes to produce 50 tons of gold this year. The mining industry will play a key role in boosting gold output in the country. The Khartoum regime has been credited with a number of innovative strategies to transform the mining activities into a vital source of revenue.