mine · Democratic Republic of the Congo

Tenke Fungurume

One of the largest copper-cobalt operations in the world.

OperatingProductionProject score 75
Operator
CMOC Group
Country
Democratic Republic of the Congo
Mine life
25 yrs
Capex
—
Profile

Resource, economics and jurisdiction

Resource
Very large high-grade copper-cobalt resource in the Central African Copperbelt.
Production
Major copper output with cobalt as a significant by-product.
Economics
Cobalt by-product credits materially reduce copper cost.
Infrastructure
On-site hydrometallurgical plant; power supply from regional hydro.
Jurisdiction
High risk
Ownership
CMOC 80%, Gecamines 20%
Region
Lualaba
Overview

What this asset is

One of the largest copper-cobalt operations in the world.

Methodology

Earthern Project Score 75

Version v0.1

Resource Quality
81 (weight 1.2) — Grade, continuity and metallurgical complexity of the resource.
Project Scale
83 (weight 1) — Annual output potential relative to the global market for its primary mineral.
Development Stage
69 (weight 0.9) — How far the asset has advanced toward or through production.
Jurisdiction
78 (weight 1.1) — Political stability, permitting predictability and rule of law.
Infrastructure
70 (weight 0.9) — Access to power, water, transport and processing capacity.
Economics
74 (weight 1.2) — Cost position and margin resilience through the price cycle.
Strategic Importance
78 (weight 1) — Relevance to national critical mineral strategies and allied supply chains.
Supply-Chain Value
81 (weight 1) — Whether the asset relieves a genuine downstream bottleneck.
Sustainability
67 (weight 0.9) — Carbon intensity, water use, tailings approach and community standing.
Execution Risk
69 (weight 1) — Technical, financing and schedule risk to reaching nameplate output. Higher is lower risk.
Materials

Minerals produced

Base Metals

Copper

Copper is the primary conductor of the electrified economy, used wherever electricity or heat must move efficiently.

Battery Minerals

Cobalt

A cathode stabiliser that improves battery energy density and cycle life, produced mostly as a copper by-product.

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