The Trafigura and Kamoa-Kakula signed an agreement on Wednesday in South Africa to transport minerals for a minimum period of six years through LAR – Atlantic Lobito Corridor, the company that manages the Lobito Corridor operation.
According to a statement sent to the editorial team, the terms of this agreement, the clauses of which are confidential, were signed during the Mining Indaba in Cape Town, South Africa. These mark the first long-term commercial commitments with the Lobito Corridor, a new commercial import and export route between the African Copper Belt and the Atlantic coast of Angola.
It is expected that the Lobito Corridor will reach an annual export capacity of one million tons before the end of this decade. Trafigura’s export capacity allocation through LAR will be up to 450,000 tons per year from 2025.
In addition, the Kamoa-Kakula copper complex, a joint venture between Ivanhoe Mines and Zijin Mining, has been allocated a minimum capacity of 120,000 tons and up to 240,000 tons per year of copper products, blister, anodes, or concentrate from 2025, with an initial commitment of 10,000 tons to be transported in 2024 as the Lobito Corridor increases its operational capability.
In 2022, the Lobito Atlantic Railway consortium, consisting of Trafigura, Mota-Engil, and Vecturis, obtained a 30-year concession for the operation, management, and maintenance of the Lobito Corridor and the mineral terminal of the Lobito port.
When fully modernized, the line will provide a more efficient and lower carbon emission route to the copper, cobalt, and other crucial metals market for the energy transition and will operate commercially openly with the entire market.
