Glencore is negotiating to sell a 40% stake in its copper and cobalt operations in the Democratic Republic of Congo to the Orion Critical Mineral Consortium, led by Orion Resource Partners and the US International Development Finance Corporation. The deal values these assets, including Mutanda Mining and Kamoto Copper Company, at about $9 billion with debt. These projects are significant producers of cobalt and copper for electric vehicles and renewable energy technologies.
The potential sale occurs as Rio Tinto considers acquiring Glencore, which could create the world’s largest mining company.
Copper producers are increasingly seeking partners to share risks and costs, driving more industry mergers and acquisitions. The discussions reflect Washington’s effort to secure critical minerals needed for clean energy, manufacturing, and defense, amid supply chain concerns linked to China’s dominance. Africa, particularly the DRC, has become central to this competition; in 2025, the US and DRC agreed to collaborate on resource development, infrastructure, and economic security.
