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Africa|Copper|Energy|Mining
Africa|Copper|Energy|Mining
africa|copper|energy|mining

Trafigura prepays $200m to snap up Ivanhoe’s Congo copper

Copper smelting

Photo by Bloomberg

8th July 2025

By: Bloomberg

  

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Trafigura Group agreed to pay $200-million for copper anodes from an Ivanhoe Mines smelter in the Democratic Republic of Congo that’s due to start up in September.

Trafigura signed the prepayment agreement last month, Ivanhoe said Tuesday in a statement. The deal shows global trading houses — from Mercuria Energy Group to Vitol Group — are continuing to stump up cash to secure future volumes of the metal as competition for supply heats up.

The world’s biggest copper trader will take 20% of the Congo smelter’s anodes for three years, with interest paid at the secured overnight financing rate, or SOFR, plus 3.75%, the statement shows. Ivanhoe’s joint-venture partners — China’s CITIC Metal and Zijin Mining Group — account for the remaining 80%.

Trafigura declined to comment.

The 500 000-ton-a-year smelter, set to be the largest on the African continent, is part of Ivanhoe’s massive Kamoa-Kakula complex, where mining has been disrupted by seismic activity and flooding since May.

Kamoa Copper, the Ivanhoe subsidiary that runs the complex, also extended a $200-million loan facility with South Africa’s Standard Bank for a further 12 months, it said.

Edited by Bloomberg

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