Glencore considers selling 40% of DRC copper and cobalt assets

Glencore is preparing to sell a 40% stake in two major copper and cobalt mining operations in the Democratic Republic of the Congo (DRC), valued at approximately $9 billion including debt. The transaction involves Mutanda Mining and Kamoto Copper Company (KCC), which together produced 247,800 tonnes of copper and 33,500 tonnes of cobalt in 2025.

The sale is being negotiated with the Orion Critical Mineral Consortium, a group supported by United States interests. This move is intended to bolster Glencore’s cash flow and support increased shareholder distributions starting in 2027. The deal carries geopolitical significance, as it would strengthen American influence over the supply of minerals essential for electric vehicle batteries and high-tech equipment.

In addition to the potential DRC divestment, Glencore is reportedly reviewing stakes in zinc and gold assets in Kazakhstan. Separately, the company has entered into long-term off-take agreements for the Jaguar nickel project in Brazil, committing to purchase at least 20,000 tonnes of nickel concentrate annually starting in 2029.