Glencore, the Swiss mining powerhouse, plans to sell a 40% stake in its Democratic Republic of Congo (DRC) copper and cobalt assets to U.S.-backed Orion Critical Mineral Consortium (Orion CMC).
The $9 billion deal, covering Mutanda Mining and Kamoto Copper Company, highlights the DRC’s strategic role in supplying critical minerals for electric vehicles, renewable energy, and industrial manufacturing. This partnership also aligns with U.S.-DRC initiatives to secure resilient mineral supply chains, positioning Glencore as a key player in the global clean energy transition.
Glencore sells DRC copper and cobalt assets
Glencore aims to monetize part of its DRC holdings while retaining operational control. The 40% stake sale is valued at an estimated $9 billion. These mines are among the DRC’s largest copper and cobalt producers, vital for global industrial and EV supply chains.
Glencore, a major supplier of copper, nickel and cobalt, went public in 2011 for £5.30. Glencore shares closed in London trading on Wednesday at £5.11 ($6.96), with a market capitalisation of £60 billion ($81.76 billion).
Orion CMC role and management
Orion CMC will manage its share of production sales and appoint non-executive directors, ensuring alignment with U.S. strategic interests.
Strategic Implications for Global Supply Chains The deal reinforces the U.S.-DRC critical minerals partnership, supporting electric vehicles, renewable energy, and industrial growth.
The news comes as Glencore continue to engage in talks in a merger with Rio Tinto in a deal that could create the world’s largest mining company with a combined market value of nearly $207 billion.
