Glencore holding talks for sale of key Congo copper mine - Bloomberg

[Glencore Company Headquarters in Zug/Baar (Switzerland)]
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Glencore (OTCPK:GLCNF [https://seekingalpha.com/symbol/GLCNF]) (OTCPK:GLNCY [https://seekingalpha.com/symbol/GLNCY]) has been holding talks about selling a stake in Kamoto Copper, which controls its biggest African copper mine, Bloomberg reported Friday, in the clearest sign yet that the company is open to relinquishing control of one of its flagship assets.

Glencore (OTCPK:GLCNF [https://seekingalpha.com/symbol/GLCNF]) (OTCPK:GLNCY [https://seekingalpha.com/symbol/GLNCY]) is said to have stepped up efforts in recent months to find a buyer for the mine and has held talks with potential bidders, including Orion Resource Partners, which reportedly approached the company last year with a proposal to buy the Congo operation through its joint venture with Abu Dhabi's ADQ.

A potential sale has been discussed as part of ongoing talks over a minerals and infrastructure partnership between the governments of the U.S. and Congo, according to the report [https://www.bloomberg.com/news/articles/2025-09-19/glencore-is-said-to-hold-talks-for-sale-of-key-congo-copper-mine].

While Glencore (OTCPK:GLCNF [https://seekingalpha.com/symbol/GLCNF]) (OTCPK:GLNCY [https://seekingalpha.com/symbol/GLNCY]) has not run an official sales process, it has informally let other companies including Rio Tinto (RIO [https://seekingalpha.com/symbol/RIO]) know that it is open to selling a controlling stake, the report said.

Kamoto Copper, which produced 191,000 tons of copper and 27,000 tons of cobalt in 2024, has struggled to reach full capacity and has been plagued by operational setbacks, a collapse in cobalt prices, and an ongoing dispute with the Congo government over royalties.

The offtake contracts for the mine’s output - which help support Glencore's (OTCPK:GLCNF [https://seekingalpha.com/symbol/GLCNF]) (OTCPK:GLNCY [https://seekingalpha.com/symbol/GLNCY]) trading operation - reportedly are a key point of talks with prospective buyers.

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