The United States has stepped up efforts to counter China’s dominance in Africa’s critical minerals sector, backing a $9 billion deal to acquire a 40 per cent stake in copper and cobalt mines operated by Glencore in the Democratic Republic of Congo.
The transaction, announced on Tuesday, will see Glencore sell a significant minority holding in its Mutanda Mining (Mumi) and Kamoto Copper Company (KCC) operations to the Orion Critical Mineral Consortium, in a deal valued at about $9 billion including debt.
The mines are among the largest Western-owned producers of cobalt and copper in the DRC, minerals that are essential for electric vehicle batteries, renewable energy systems, and advanced manufacturing. The DRC is the world’s leading source of cobalt and a key supplier of copper, placing it at the centre of global clean energy supply chains.
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Orion CMC was established in October 2025 and is led by Orion Resource Partners in partnership with the US government. Under the agreement, the consortium will have the right to appoint non-executive directors to the boards of both mining companies and can direct the sale of its share of production to nominated buyers. Glencore will retain responsibility for day-to-day operations.
The deal reflects Washington’s growing push to reduce dependence on China for strategic minerals. China already controls or holds major stakes in several large-scale copper and cobalt projects in the DRC, including Tenke Fungurume, Kisanfu, and Deziwa, all operated by Chinese state-linked firms.
US officials have warned that reliance on China for minerals used in clean energy, electric vehicles, and defence technology poses long-term supply chain risks. Africa, with vast untapped mineral reserves, has become a focal point of this strategic competition.
Glencore chief executive Gary Nagle said the company welcomed the partnership, describing it as recognition of Glencore’s position as the only major Western producer of copper and cobalt in the DRC. He said the deal would allow Glencore to support US and private-sector demand for critical minerals through a stable supply arrangement.
US Deputy Secretary of State Christopher Landau said the transaction aligned with the objectives of the US-DRC Strategic Partnership Agreement. He said it would encourage increased American investment in the DRC’s mining sector and promote secure and mutually beneficial mineral flows between both countries.
Following completion of the deal, Orion CMC and Glencore plan to explore expanding both mines in collaboration with the DRC government and state miner Gécamines. The consortium may also pursue additional projects across the African Copperbelt.
Separately, Glencore confirmed it is in early-stage discussions with Rio Tinto over a possible acquisition that could create the world’s largest mining company, with a combined market value of more than $200 billion. The companies have until February 5 to confirm whether talks will progress.
Glencore and Orion CMC cautioned that the DRC transaction remains subject to due diligence, regulatory approvals, and the signing of final legal agreements.
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