Finance
Glencore in talks to sell stake in Kamoto Copper Co, Bloomberg News reports
Published by Global Banking & Finance Review®
Posted on September 19, 2025
2 min readLast updated: January 21, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on September 19, 2025
2 min readLast updated: January 21, 2026
Glencore is negotiating the sale of its stake in Kamoto Copper Co due to cobalt market challenges in the DRC, with potential buyers like Orion and Rio Tinto.
(Reuters) - Miner and trader Glencore has been in talks about selling a controlling stake in a unit that operates a major copper and cobalt project in the Democratic Republic of Congo, Bloomberg News reported on Friday.
The news comes a month after Glencore, the world's second-largest cobalt miner, said a significant portion of its production of the metal was likely to remain unsold by the end of the year due to DRC's suspension of cobalt exports.
Glencore has informally expressed willingness to sell its stake in Kamoto Copper Co (KCC), with potential bidders including investment firm Orion Resource Partners and miner Rio Tinto, the report said, citing people familiar with the matter.
The U.S. International Development Finance Corp. (DFC) could also be involved in the KCC deal through partnership with New York-based Orion Resource Partners, Bloomberg said.
Glencore and Orion Resources declined to comment. Rio Tinto and the DFC did not immediately respond to a request for a comment.
KCC produces copper cathode and cobalt hydroxide from its two open-pit mines, KOV and Mashamba East, and from the Kamoto underground mine.
Glencore holds a 75% stake in KCC, while Congo's state-owned mining company Gécamines owns the remaining 25%.
Congo accounts for more than 70% of global cobalt output, but much of it comes from artisanal miners who are largely unregulated.
In February, DRC halted cobalt exports after prices fell to a nine-year low, and the Mines Ministry is reportedly weighing a two-month extension to the ban past its September 21 deadline, Reuters reported on Friday, citing sources.
(Reporting by Raechel Thankam Job in Bengaluru; Editing by Tasim Zahid and Leroy Leo)
Cobalt is a chemical element used primarily in batteries and alloys. It is crucial for the production of rechargeable batteries, particularly in electric vehicles.
A controlling stake refers to owning enough shares in a company to influence its decisions and operations, typically more than 50% of the voting shares.
A stake sale involves selling a portion of ownership in a company or asset. This can provide liquidity and is often used to raise capital.
The Democratic Republic of Congo is known for its vast mineral resources, including cobalt and copper, which are essential for various industries.
A potential bidder is an individual or entity that expresses interest in purchasing a stake or asset, often after evaluating its value and potential.
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