BRIEF: Zijin’s Kamoa copper mine halts production after seismic events
Zijin Mining Group Co. Ltd. (2899.HK; 601899.SH) announced last Friday its Kamoa-Kakula copper mine, located in the Democratic Republic of Congo (DRC), has suspended underground operations in its Kakula section following a series of recent seismic events. Personnel and some equipment were evacuated, and no injuries have been reported.
The Kamoa-Kakula mine produced 437,000 tons of copper in 2024 and set a 2025 production target of between 520,000 and 580,000 tons. Zijin holds a 44.45% stake in the project. The company said the seismic activity is expected to reduce the mine’s output this year from earlier plans, though the extent of the impact remains under assessment.
In 2024, the Kamoa-Kakula project contributed 1.72 billion yuan ($239 million) to Zijin’s net profit, accounting for 5.37% of its profit that year.
The company’s stock opened 1.4% lower on Monday in Hong Kong, closing down 0.11% at HK$18.7 by the midday break.
By Lee Shih Ta
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