Glencore agrees in principle to sell 40% of its Congo mines to a US-backed group

Glencore signed a non-binding agreement for the Orion Critical Mineral Consortium to buy 40% of Mutanda and Kamoto Copper Company at an enterprise value of $9bn for the two mines. Orion CMC is backed by Abu Dhabi’s ADQ and the US International Development Finance Corporation, and could direct sales of its share of output under a US-Congo partnership.

Why it matters. Critical-mineral policy now shapes who can buy mines and where the metal goes.

Source

MINING.COM

In the course

Module 10: Risk and jurisdiction