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(Ecofin Agency) - The loan will finance the third phase of the copper complex's expansion.

This phase should increase the facility’s production capacity to over 600,000 tonnes annually.In a statement dated 26 June 2024, the Africa Finance Corporation (AFC) said it extended a $150 million loan to mining company Kamoa Copper. The funds will help expand the firm’s Kamoa-Kakula cruciferous complex in the Democratic Republic of Congo (DRC).

The AFC provided the loan in line with its ambition to contribute to Africa’s mining development and its prosperity.Kamoa Copper, which operates the complex, is a joint venture between Canadian mining company Ivanhoe Mines (39.6%),"""" Chinese company Zijin Mining Group (39.6%),"""""" Hong Kong-based private company Crystal River Global Limited (0.8%) and the Congolese government (20%)