Freeport, Glencore cope with Congo power shortage (Source: seekingalpha.com)
- Freeport McMoRan (FCX) says power rationing in the Democratic Republic of Congo will not affect its operations in the short term but a reliable energy supply would be crucial for any future expansion plans.
- The Democratic Republic of Congo, Africa’s biggest copper producer, has told miners it will institute an electricity rationing program and its state-owned power company will stop signing new contracts.
- Glencore Xstrata’s (GLCNF, GLNCY) Mutanda and Katanga mining projects and FCX's Tenke Fungurume mine are Congo’s top copper producers; Katanga is scheduled to expand production to almost 300K metric tons by year-end, and Tenke plans to add a second sulfuric acid plant by 2016.
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