Glencore’s Kamoto Copper Mine Faces $894 Million Royalty Dispute in DRC
Glencore’s Kamoto Copper Company (KCC), a major copper and cobalt mine in the Democratic Republic of Congo (DRC), is facing a dispute with the country’s tax authority, DGRAD, over unpaid royalties amounting to more than €800 million ($894 million).
According to sources, earlier this year, DGRAD froze KCC’s local bank accounts, and recently sealed off a metal storage warehouse, though the facility was reopened the next day.
Kamoto, in which Glencore holds a 75% stake, is one of the largest mines in the DRC. It exported 200,000 tons of copper and 16,000 tons of cobalt in 2023, and has produced 89,000 tons of copper and 11,700 tons of cobalt in the first half of 2024. Despite the dispute, production at the mine has remained unaffected.
While Glencore declined to comment, KCC revealed it had paid $2.3 billion in taxes and royalties between 2021 and 2023. Negotiations between KCC and the Congolese tax authorities have not yet resolved the issue, prompting DGRAD to take further actions.
The DRC, now the second-largest copper producer globally and the leading source of cobalt, is a key player in the green energy transition, with its copper exports tripling since 2015.
