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Glencore PLC said on Tuesday it has agreed to sell a 40% stake in its assets in the Democratic Republic of Congo to the US-backed Orion critical mineral consortium for around $9 billion. These assets include Mutanda Mining and Kamoto Copper Co. The consortium was established in October 2025 and is led by Orion Resource Partners in partnership with the US government. The proposed transaction remains subject to due diligence, and regulatory approvals, said Glencore, the Barr, Switzerland-based commodity trading and mining company. As part of the proposed deal, the consortium will have the right to appoint non-executive directors in the boards of the assets and direct the sale of the relevant share of production from the assets to nominated buyers. Mutanda Mining and Kamoto Copper would continue to be managed as part of the Glencore. Glencore and Orion CMC will also look for opportunities to expand and develop Mutanda Mining and Kamoto Copper, working with the DRC government and Gecamines, Glencore’s existing partner in KCC, as well as to acquire additional critical mineral projects and assets in the DRC and the African copper belt more broadly. ‘We are pleased that the US government and Orion CMC have recognized Glencore’s role as the only major Western producer of copper and cobalt in the DRC, through our high-quality assets, Mumi and KCC,’ Glencore Chief Executive Officer Gary Nagle said. ‘This proposed transaction between Glencore and the US-backed Orion Critical Minerals Consortium reflects the core objectives of the US-DRC Strategic Partnership Agreement by encouraging greater US investment in the DRC’s mining sector and promoting secure, reliable, and mutually beneficial flows of critical minerals between our two countries,’ US Deputy Secretary of State Christopher Landau said. Shares in Glencore rose 3.2% to 517.30 pence in London on Tuesday afternoon. They closed up 1.8% at R 111.40 in Johannesburg. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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