Zijin Mining's core asset, Kamoa-Kakula, Africa's largest copper mine, suffered a sudden well flooding accident, resulting in a sharp reduction in the planned copper production in 2025 from 520,000-580,000 tons to 370,000-420,000 tons. The accident was caused by the damage of underground pumping facilities caused by multiple mine earthquakes in late May, and groundwater flooded the mining surface in the eastern area. At present, the western area has gradually resumed production, and the company is urgently installing high-power water pumps to drain water, and it is expected to be fully restored in August 2025.
This production reduction will reduce Zijin Mining's equity copper production by 44,000-93,000 tons, directly impacting its annual target of 1.15 million tons of mineral copper. As the largest source of incremental production in the original plan (expected to increase production by 143,000 tons), Kamoa's production reduction forced the company to launch an emergency plan: using the resumption of production in the western area, deploying 3.8 million tons of surface stockpiled ore (grade 3.2%), and developing high-grade mining sections. Although the third phase of the concentrator was not affected, it remains unclear whether the full-year target can be achieved.