Glencore Bets on DRC Operations to Drive Copper and Cobalt Growth Strategy
Glencore Expands Focus on DRC Copper and Cobalt Assets as It Targets 1 Million Tonnes of Copper Output by 2028
Glencore is intensifying its investment focus on the Democratic Republic of the Congo (DRC) as part of a long-term strategy to become one of the world’s leading copper producers without relying on large-scale mergers.
The company recently ended merger discussions with Rio Tinto that could have created the world’s largest mining group.
Instead, Glencore has opted to strengthen its balance sheet and sharpen its portfolio around high-demand transition metals, particularly copper and cobalt sourced from its operations in the DRC.
A central component of this strategy is the restructuring of ownership in its flagship copper and cobalt assets in the country.
Glencore agreed to sell a 40% stake in key DRC operations to the Orion Critical Minerals Consortium, a move aimed at unlocking capital while maintaining operational control of some of the world’s most strategically important battery metals assets.
DRC Assets at the Core of Growth Plans
Growth in Glencore’s copper output is expected to be driven largely by improvements and expansions at existing operations, particularly the Kamoto Copper Company Complex (KCC).
A land access agreement with the state-owned miner Gécamines is expected to support production growth toward approximately 300,000 tonnes of copper per year while extending the mine’s operational lifespan.
The company has reaffirmed plans to produce more than 1 million tonnes of copper annually by 2028, with output projected to rise further to around 1.6 million tonnes by 2035.
These targets position the DRC as a cornerstone of Glencore’s future production profile and a critical contributor to global supply of energy transition minerals.
Production Performance Reflects Operational Pressures
Glencore produced 851,600 tonnes of copper in 2025, representing an 11% decline compared with the previous year, largely due to lower ore grades and recovery rates at several international operations.
However, production strengthened significantly in the second half of the year as operational performance improved.
In the DRC, cobalt production declined slightly amid export controls and regulatory measures introduced to stabilise global markets.
These policy interventions have underscored the growing role of the Congolese government in managing strategic mineral supply and pricing.
Across its broader portfolio, zinc production increased, while nickel output declined in response to weaker market conditions.
Despite these operational fluctuations, the company continues to prioritise copper and cobalt assets in the DRC as long-term growth drivers.
Financial Performance Shows Resilience Amid Market Shifts
Glencore reported higher revenue in its latest financial results, supported by strong commodity trading activity and stable demand for industrial metals.
However, profitability was affected by weaker coal prices, reflecting the gradual shift in global energy markets toward lower-carbon fuels.
Coal remains a major source of cash flow for the company but presents increasing strategic complexity due to environmental pressures and long-term decarbonisation trends.
As a result, Glencore continues to rebalance its portfolio toward minerals essential for electrification, renewable energy and battery manufacturing sectors in which the DRC plays a central role.
Strategic Outlook Anchored in DRC’s Critical Minerals
Glencore expects to maintain strong production levels in the coming years while navigating regulatory, operational and geopolitical risks associated with mining in resource-rich jurisdictions.
The company did not issue formal cobalt production guidance for 2026, citing uncertainty surrounding export quotas and market controls in the DRC.
Despite these uncertainties, the company’s standalone growth strategy is increasingly anchored in the country’s vast copper and cobalt reserves.
With global demand for critical minerals projected to rise sharply, the Democratic Republic of the Congo is positioned to remain a pivotal hub in the global energy transition and a key pillar of Glencore’s long-term expansion plans.
