Glencore In Talks To Sell 40% Stake In DRC Copper/Cobalt Mines For $9bn To US‑Backed Consortium
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The Orion Critical Mineral Consortium (Orion CMC), led by private equity fund Orion Resource Partners and including the U.S. International Development Finance Corporation, is targeting stakes in Glencore’s flagship Mutanda Mining and Kamoto Copper Company (KCC) projects, major producers of battery metals for electric vehicles and renewables.
The talks come amid early discussions between Glencore and Rio Tinto over a potential takeover that could create the world’s largest miner with a market value exceeding $200 billion; Rio has until February 5 to confirm an offer or walk away, with possible extension.
Copper miners are increasingly seeking partners to share project risks and costs amid a surge in mergers and acquisitions, while the U.S. is pushing to secure critical minerals like cobalt amid reliance on Chinese processing and geopolitical vulnerabilities.
Africa’s vast reserves have made it a strategic focus, with the DRC central to the competition; Washington and Kinshasa signed a 2025 critical‑minerals partnership to boost cooperation on resources, infrastructure and security.
