Mercuria Partners with Zambia in Metals Trading to Bolster Copper Access
Mercuria Energy Group has entered into a metals trading partnership with Zambia, marking another instance of a major commodity trader collaborating with a resource-rich nation to secure critical materials.
The Geneva-based company announced its alliance with Zambia’s Industrial Development Corporation (IDC) on Thursday. This move aligns with Mercuria’s strategy to expand its metals trading operations, spearheaded by Kostas Bintas, a former Trafigura Group executive.
The initiative reflects the growing interest among trading houses to secure access to minerals essential for the global energy transition.
For Mercuria, increasing exposure to copper has become a priority, especially in African nations like Zambia, the continent’s second-largest copper producer. “You will see us very present in Africa and putting our money where our mouth is in respect of the Copperbelt,” Bintas stated in October.
Zambia’s Copperbelt region is home to some of the world’s most significant copper reserves, making it a key area for investment as global demand for the metal rises.
The IDC, which holds a 60.3% stake in ZCCM Investments Holdings Plc, a company with minority stakes in major copper projects, views the partnership as a strategic move to enhance Zambia’s standing in international markets.
“This collaboration with Mercuria will position Zambia as a key player in international markets,” IDC CEO Cornwell Muleya emphasized in the statement.
By joining forces with Zambia, Mercuria aims to solidify its foothold in the global copper market, supporting both its business growth and Zambia’s aspirations to play a pivotal role in the global energy transition.
