Global commodities giant Trafigura backs out of Angola's 2,000 MW power project meant to power DRC and Zambia's copper and cobalt mines

Trafigura has withdrawn from a proposed 2,000-megawatt (MW) power transmission project that was expected to transport surplus hydropower from Angola to energy-hungry copper and cobalt mines in the Democratic Republic of Congo (DRC) and Zambia.

Trafigura has withdrawn from a proposed 2,000-megawatt (MW) power transmission project that was expected to transport surplus hydropower from Angola to energy-hungry copper and cobalt mines in the Democratic Republic of Congo (DRC) and Zambia, Reuters reported.

The project, announced in July 2024 through a non-binding agreement between Trafigura, engineering firm ProMarks, and the Angolan government, was intended to unlock Angola's abundant but underutilised hydropower resources while addressing chronic electricity shortages affecting mining operations in Central and Southern Africa.

Project in limbo

One industry source said Trafigura had "abandoned the project," while a second source within the Angolan government confirmed the company's withdrawal, adding that discussions are continuing with changes to the consortium of companies interested in implementing the project.