Congo State Firm Strikes Deal to Sell Copper From Glencore Mine

The Democratic Republic of Congo (DRC) increased its copper exports by almost 10% in 2025, with shipments rising to 3.4 million tons from 3.1 million tons in 2024. This growth solidified the country's position as the world's second-largest copper producer after Chile. The rise in output is helping to ease global supply pressures.

Surging demand for copper from the clean-energy transition and artificial intelligence infrastructure has tightened the global market. Prices have surged 40% over the past year, reaching a record above $14,500 a ton in late January 2026. Chinese companies lead production in the DRC, including the Tenke Fungurume mine and the Kisanfu project, which together accounted for over 700,000 tons of output.

Glencore Plc is finalizing a deal to sell a portion of its copper and cobalt assets in the DRC to a US-backed consortium. The transaction is part of the company's strategy to reshape its portfolio and reduce debt. Orion CMC has announced a preliminary deal to acquire stakes in the assets.

Why Did This Happen?

Congo's rising copper output has been a response to growing global demand. The government has also imposed strict export controls on cobalt, a metal often extracted alongside copper, to manage domestic supply and prices. This has led to an 80% drop in cobalt shipments in 2025.

Glencore's decision to sell assets in the DRC is also driven by a broader strategic realignment. The company has posted three consecutive annual earnings declines and is focusing on self-funding growth through higher production. The firm aims to nearly double its copper output by 2035, with major projects expected to drive development spending to nearly $11 billion at its peak.

How Did Markets Respond?

Shares of Glencore rose 4.2% in afternoon trading on the London Stock Exchange following the release of its 2025 results. The company reported adjusted EBITDA of $13.51 billion, slightly exceeding analyst expectations.

The DRC's continued growth in copper production has also drawn interest from US investors. A partnership agreement between Washington and Kinshasa gives American firms preferential access to key mineral reserves, further encouraging deals like the one involving Orion CMC.

What Are Analysts Watching Next?

Analysts are closely monitoring how Glencore's growth strategy unfolds. The company's aim to extend mine life at its Kamoto Copper Company operations has drawn attention, as has its potential to bring in partners for large projects. This includes possible joint ventures at Agua Rica and El Pachon.

With copper prices at record levels and demand accelerating, investors are watching for signs of further consolidation in the mining sector. Glencore has previously explored a $240 billion merger with Rio Tinto, but talks broke down over valuation disputes.

Investors are also looking to see how the DRC manages its cobalt export restrictions and whether the government will ease quotas to support broader copper production. The interplay between copper and cobalt in Congolese mining could shape global supply chains for both metals.