In a deal echoing far beyond the copper pits of central Africa, Glencore’s Congo Mines Stake Sale is poised to redraw the geopolitical lines around critical minerals.
A consortium of investors has reached an agreement with Glencore PLC to acquire a 40% stake in two of the mining giant’s Democratic Republic of Congo operations for approximately $3.6 billion. The transaction values the combined assets at $9 billion and aims to secure essential materials for the United States and its allies.
A Strategic Bet on Copper and Cobalt
The assets at the center of the deal include the Mutanda Mining open-pit copper and cobalt mine and Kamoto Copper Co. Together, they represent some of the most strategically important reserves in the global supply chain.
Orion Critical Mineral Consortium, backed by the U.S. government, will take the 40% interest. The move is widely seen as an effort to counter China’s near-total dominance in critical minerals vital to green technology and advanced manufacturing.
Christopher Landau, U.S. Deputy Secretary of State, said the proposed transaction “reflects the core objectives of the U.S.-DRC Strategic Partnership Agreement by encouraging greater U.S. investment in the DRC’s mining sector and promoting secure, reliable, and mutually beneficial flows of critical minerals between our two countries.”
He added that Washington looks forward to working closely with Congo’s government to finalize the deal in a way that benefits both nations and sets a precedent for future U.S. investments.
