The transaction, announced on Tuesday, covers Glencore’s Mutanda Mining (Mumi) and Kamoto Copper Company (KCC) projects, two of the largest Western-owned producers of cobalt and copper in the DRC.
These minerals are essential for electric vehicles, renewable energy technologies, and advanced manufacturing.
Orion CMC, established in October 2025 and led by Orion Resource Partners in partnership with the U.S. government, will have the right to appoint non-executive directors to the boards of Mumi and KCC.
In addition, the consortium can direct the sale of its share of production to nominated buyers, while Glencore will continue to manage day-to-day operations of the mines as part of its group.
Expansion and Partnership Opportunities
The consortium will also explore opportunities to expand and develop Mumi and KCC in cooperation with the DRC government and Gécamines, Glencore’s existing partner in KCC, as well as acquire additional critical mineral projects across the African Copperbelt.
Glencore Chief Executive Officer Gary Nagle said: “We are pleased that the U.S. 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. Through this partnership, we would be able to support the ambitions of the U.S. government and private sector with the supply of two critical minerals.”
U.S. Deputy Secretary of State Christopher Landau added: “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.”
U.S. Strategic Interests and Competition with China
The deal underscores Washington’s increasing concern over supply chain vulnerabilities and China’s dominance in global mineral extraction and processing.
Africa, home to vast untapped reserves, has become a key arena in this strategic competition.
The 2025 U.S.-DRC Strategic Partnership Agreement aims to deepen cooperation in resource development, infrastructure, and economic security.
Meanwhile: Rio Tinto Acquisition Talks
Meanwhile, Rio Tinto is in early talks to acquire Glencore, a move that could create the world’s largest mining company with a combined market value exceeding $200 billion.
The parties have until February 5 to announce a firm intention to proceed or withdraw, though an extension could be requested.
Glencore and Orion CMC cautioned that the agreement remains subject to due diligence, regulatory approvals, and the execution of legally binding documents.
