Congo Homes In on Peru’s World No. 2 Copper Ranking
- Peru’s output has stagnated amid social unrest against mines
- Money flowing into Congo is unlocking new high-grade deposits
A worker handles copper sheets at a copper and cobalt mine in Kolwezi, Democratic Republic of Congo.
Photographer: Simon Dawson/Bloomberg
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The Democratic Republic of Congo all but closed the gap with Peru in terms of copper shipment volumes last year, official data from the two countries show.
While Peru remained the second-biggest supplier of the metal, the two nations are now neck and neck, underscoring a couple of important trends. An up-tick in social unrest and political uncertainties are constraining investment in South America, as more money flows into Africa’s rich ore-bodies.