Present in the Democratic Republic of Congo since 2007, Glencore mines copper and cobalt there through its companies Mutanda Mining (of which 5% is held by the Congolese state) and Kamoto Copper Company (of which 25% is held by Gécamines and 5% by the Congolese state since 2023).
The security situation in the DRC, a recent tax dispute, less-than-ideal geological conditions and cobalt prices that are slow to recover might lead one to think that the Swiss giant would be ready to throw in the towel as regards its activities in the DRC… But this is not the case.
Glencore is not leaving the DRC, but is continuing its operations in full transparency and remains fully committed to its mining activities and strategic partnerships in the country.
In a press release, Glencore states that it received an unsolicited proposal for its operations in the Democratic Republic of Congo (DRC). However, this proposal was rejected.
“Glencore has not engaged any bank or advisor and has not initiated a sales process for its operations in the DRC,” the document states.
According to sources close to the matter, on December 10, 2024, Gary Nagle, CEO of the Glencore Group, met Félix Tshisekedi, President of the DRC, and Judith Suminwa, Prime Minister of the Congolese Government, in Kinshasa, and this visit was, for him, an opportunity to reinforce Glencore’s commitment to the country and its people, in particular the communities of Lualaba where its activities are based.
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