Glencore Negotiates Sale of 40% Stake in DRC Copper and Cobalt Assets
Glencore is in negotiations to sell a 40% stake in its copper and cobalt assets in the Democratic Republic of Congo, estimated at around $9 billion, including debt. The company has signed a letter of intent with Orion CMC, supported by the U.S. International Development Finance Corporation, which would allow Orion to sell a portion of the production from the Mutanda Mining and Kamoto Copper operations, enhancing the supply of critical minerals to the U.S.
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Glencore is negotiating the sale of a 40% stake in its copper and cobalt assets in the Democratic Republic of Congo, valued at approximately $9 billion including debt. The company has signed a letter of intent with Orion CMC, backed by the U.S.
International Development Finance Corporation, for stakes in Mutanda Mining and Kamoto Copper operations. Orion CMC would have the right to sell a portion of the production from these mines, which Glencore states would benefit the supply of critical minerals to the U.S.
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