Tenke Fungurume Mine

Overview

Tenke Fungurume Mining (TFM) is the DRC's largest copper mine and the world's fifth-largest copper operation, sitting atop one of the planet's richest copper-cobalt deposits. The mine's concession covers more than 1,500 square kilometres in the Lualaba Province, with an estimated 400,000 people living within its boundaries.

Originally developed by Freeport-McMoRan, the mine was acquired by Chinese company CMOC Group in a $2.65 billion deal in 2016, with a further 24% stake from Lundin Mining in 2017–2019. CMOC now holds 80%, with state-owned Gécamines retaining 20%.

In 2024, CMOC Group produced 650,200 tonnes of copper and 114,200 tonnes of cobalt from its Tenke Fungurume and Kisanfu operations, with TFM as the primary contributor. CMOC now controls 41% of global cobalt market share. The company projects 2025 copper output of 600,000–660,000 tonnes, though DRC cobalt export restrictions imposed in early 2025 significantly disrupted cobalt sales. CMOC's cobalt sales volume dropped 36% year-on-year through September 2025 despite a modest production increase, as the government-imposed export ban was replaced by a quota system. Under the DRC quota system, CMOC received the largest quarterly cobalt export allocation at 6,500 tonnes, with 31,200 tonnes allocated to CMOC for 2026.

TFM became the first mine in Africa to receive The Copper Mark certification in 2024 and achieved an AAA ESG rating.

Operations

TFM operates five open-pit mines across its vast concession. Copper is recovered through atmospheric leaching, solvent extraction, and electrowinning to produce copper cathode. Cobalt hydroxide is produced through sulphur dioxide leaching and hydrometallurgy.

The mine has been undergoing significant expansion, including exploration in TFM's western area and new deposits. By 2024, TFM held estimated recoverable reserves of 176.8 million tonnes grading 2.1% copper and 0.30% cobalt, supporting over 32 years of operations at current production rates.

External sales of copper and cobalt output are handled by IXM, CMOC's subsidiary and the world's third-largest base metal trader. Products are currently trucked and railed to ports in Durban and Dar es Salaam.

CMOC has committed $1.084 billion to expand the nearby Kisanfu mine, which hosts one of the world's largest undeveloped copper-cobalt deposits approximately 33 km southwest of Tenke Fungurume.

Corridor Connection

Located approximately 177 km northwest of Lubumbashi in the Lualaba Province, Tenke Fungurume currently exports copper cathode and cobalt hydroxide via road to Durban (South Africa) and Dar es Salaam (Tanzania). The Lobito Corridor offers a potentially shorter Atlantic export route via Kolwezi and the Benguela Railway. As the DRC's largest copper mine and the world's second-largest cobalt mine, TFM's logistics decisions will significantly influence corridor commercial viability.

Diligence Focus

Community Impact

With approximately 8,000 Congolese employees and contractors, TFM is the largest employer in the region. Since 2006, the mine has paid over $2.5 billion in taxes, royalties, and other payments to the public treasury.

Community relations have been complex. The mine's concession contains approximately 400,000 residents whose population has grown from roughly 50,000 at construction start. Artisanal mining trespass has been a persistent challenge, with residents entering mine areas to collect cobalt. Security incidents have included fatal confrontations — in one reported incident, a trespassing miner was shot by security forces, triggering a riot.

Security at the mine has been supplemented by Congolese military patrols and the private security company Frontier Services Group, associated with Erik Prince. Workers have also staged strikes over pay conditions, including a 2020 COVID-19 isolation dispute resolved after CMOC agreed to additional compensation.

Environmental Profile

Open-pit mining across five pits creates significant land disturbance. Tailings storage facilities are located north of the processing plant with a second facility at Kwatebala.

Water management, acid mine drainage, and dust control are ongoing environmental management priorities across the extensive concession. The Copper Mark assessment identified gaps requiring closure within 24 months across 32 ESG criteria.

ESG Assessment

Timeline

Related Pages

Independent ESG Assessment

Our independent ESG assessment evaluates this operation's environmental management, social impact, governance quality, and disclosure transparency. Environmental assessment covers water management, waste handling, air emissions, biodiversity impacts, and mine closure planning. Social assessment examines community relations, employment practices, local procurement, benefit-sharing, and human rights performance. Governance assessment evaluates corporate transparency, anti-corruption measures, and stakeholder engagement quality.

Assessment findings are incorporated into our quarterly Corridor ESG Scorecards, providing stakeholders with comparable, independent ratings across all major corridor mining operations. Operations meeting our assessment thresholds are eligible for verified ESG ratings issued from our evidence archive — verifiable reputation signals that differentiate responsible operators from those whose ESG claims are unsubstantiated. Rating publication requires demonstrated performance, not just policy commitments.

Community Impact Monitoring

Community impact monitoring around this operation tracks the full spectrum of mining effects on surrounding populations. Employment and procurement spending quantify direct economic benefits to local communities. Environmental monitoring tracks water quality, air quality, and ecosystem health in areas affected by operations. Community consultation processes are evaluated for meaningful participation versus performative compliance. Grievance mechanisms are assessed for accessibility, responsiveness, and outcome fairness.

Our monitoring provides the independent verification that enables stakeholders — investors, regulators, civil society, and affected communities themselves — to assess whether this operation delivers the community benefits that its social licence to operate requires. Documentation is preserved on our source evidence archive, creating permanent records that support long-term accountability and prevent the revisionism that undermines community claims when corporate memory proves conveniently selective.