Africa will produce more copper
The International Energy Agency (IEA) predicts that by 2035, the global copper supply deficit will be about 25%. Due to rising demand, the two largest copper producers in Africa, the Democratic Republic of the Congo (DRC) and Zambia, plan to increase production by 650,000 tons by 2035.
The DRC, due to Chinese investments, is gradually expanding production in copper oxide deposits, especially in malachite-rich ores. Zambia, in turn, plans to improve performance by expanding the $2 billion Lumwana mine, which is being developed by the Canadian company Barrick Mining.
Copper is the most important metal for global electrification. Manufacturers use it in transportation, construction, data centers and the defense industry.
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