Congo copper boosts Glencore

mines enrc

Glencore has significantly increased copper production from the Democratic Republic of Congo, the company said Tuesday.

The African nation is endowed with some of the world’s biggest mineral deposits, but years of conflict, corruption and underinvestment have stymied the development of its mining industry. 

Glencore, one of the only major mining companies operating in the country, said it produced 48% more copper at the Mutanda mine in the first nine months of the year, than in the same period a year earlier.

The commodities giant, which has invested $670 million in improving Mutanda, said annual output at the mine has averaged around 200,000 tons so far this year.

Thanks to the contribution from the DRC, Glencore was able to increase overall copper production by 8% to 1,149,000 tons.

Glencore’s acquisition of stakes in the Mutanda mine has attracted criticism from transparency campaigners Global Witness, which said the Swiss-based company should publish more information about the transactions that allowed it to gain control of the mine.

Glencore maintains that the deals were properly disclosed.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s