Glencore is in talks with a US-backed consortium to sell a 40% stake in DRC mining to Glencore

Glencore has been in discussions to sell a 40 percent stake in its copper-and-cobalt operations in the Democratic Republic of Congo. The assets are valued at $9 billion, including debt.

The Orion Critical Mineral Consortium, led by Orion Resource Partners, a private equity fund, and the U.S. International Development Finance Corporation are seeking a combined stake of 40% in Glencore’s Mutanda Mining (KCC) and Kamoto Copper Company projects.

Mutanda and KCC produce cobalt, copper and other metals used in electric cars and renewable energy technology. Rio Tinto has begun early discussions to purchase the Swiss miner/trader, which could result in the creation of the largest mining company in the world with a combined value of over $200 billion.

Rio has until the end of February to announce its firm intention to offer or to walk away. However, both parties can request an extension.

Copper producers are increasingly looking for partners to share risk and cost of projects. A surge in mergers and purchases has been seen by the sector.

The Glencore-Orion CMC discussions underscore Washington's increasing push to secure access critical minerals such as cobalt, Lithium, and rare Earth elements, which are essential for clean energy, advanced manufacturing, and defence technologies. U.S. supply chain remains heavily dependent on imported goods and exposed to geopolitical risk, primarily due to China's dominance of mineral extraction and processing. Africa, which has vast reserves that are still untapped, is now a major focus in this competition. The DRC is a particular area. Washington and Kinshasa have signed an agreement for a critical minerals partnership in 2025, aimed at enhancing cooperation in the areas of resource development, infrastructure, and economic security.

(source: Reuters)