According to the Congolese Chamber of Mines, copper production will shrink from the 1.03 million tons reached last year to 1.02 million. Production of diamonds, cobalt, zinc and other metals extracted in this central African country are also likely fall, the organisation declared. However, gold production is set to rise by 33.5% this year. An increase driven for the most part by Randgold Resources (LON:RRS) and new mines opened by Banro Corporation (TSE:BAA).
This year, several factors will contribute to the fall in the country’s mining production. One of the most obvious of these is the shortage of electricity in copper-rich Katanga. According to the Chamber, SNEL the Congolese state electricity company, faces a “certain number of difficulties” in distributing power in the region and the situation does not look set to improve in the near future.