Business & Finance
Zijin Says Copper Target Under Pressure After Congo Mine Flood
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Commodities Zijin Says Copper Target Under Pressure After Congo Mine Flood Zijin Mining Group Co. said its full-year copper production target was under pressure due to flooding at a major Congolese mine, adding to global supply concerns as the metal trades near a record high. The Chinese miner said its share of output from the Kamoa-Kakula complex was expected to fall by as much as 57,000 tons this year, with production still ramping up after operations were suspended last year due to...
Commodities
Zijin Says Copper Target Under Pressure After Congo Mine Flood
Zijin Mining Group Co. said its full-year copper production target was under pressure due to flooding at a major Congolese mine, adding to global supply concerns as the metal trades near a record high.
The Chinese miner said its share of output from the Kamoa-Kakula complex was expected to fall by as much as 57,000 tons this year, with production still ramping up after operations were suspended last year due to seismic activity and the flooding that followed. Zijin calculates its interest in the project at just over 44%.