TFM declares increased production for the 2023 financial year and an exceptional contribution to the DRC public treasury

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Tenke Fungurume Mining is pleased to announce that for the financial year 2023, it produced 280,297 tonnes of copper cathode compared to 254,286 tonnes for 2022, and 21,592 tonnes of cobalt metal in the form of cobalt hydroxide compared to 20,621 tonnes for 2022.

For the same period, the company paid a net amount of approximately USD 1.123 million 72 compared to USD 987.35 million year-on-year in tax and other related payments to the National Treasury and other administrative departments. public of the Democratic Republic of Congo. Since the start of the project in 2006, these payments have reached a total amount of approximately USD 5.891 billion.

The company has also made significant investments in the area of ​​community development. Indeed, since 2006, TFM has financed a total of 284.02 million USD in community projects, including 19.20 million USD in 2023. In addition, TFM allocates 0.3% of its turnover to the DOT TFM , formerly TFM Community Social Fund. Since the start of production, contributions to this fund amount to 68.83 million USD, including 9.77 million USD in 2023.

As a corporate citizen, TFM religiously complies with its obligations. Tax payments, transfer premiums, consultancy fees and low-interest loans granted by TFM and its majority shareholder to the Congolese state enterprise, local asset payments, community development contributions and contributions to the Fund represent, overall, a sum of 6.60 billion in financial contributions and contributions to community development made in the DRC.

Considering the current fiscal conditions applied to TFM, more than half of the economic benefits generated by the project remain in the DRC in the form of taxes, royalties and duties. And if we include the economic impacts resulting from the provision of services at the local level, such as the purchase of energy from SNEL, more than two thirds of the project’s benefits remain in the country.

As one of the largest copper producers in the DRC, and with prospects for continued growth and success, TFM is proud to contribute to the growth of this dynamic nation.

TFM Communications

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