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Africa’s top copper producers, Zambia and the Democratic Republic of Congo (DRC), are reportedly negotiating deals to secure a share of metal trading profits as global demand surges, driven by Artificial Intelligence (AI) and the green energy transition.
Congo’s state miner, Gécamines, is in talks with Glencore to secure 51,000 metric tonnes of copper from Kamoto Copper Company, aligning with its 25 percent stake in the mine.
Gécamines already trades 100,000 tonnes of copper from Tenke Fungurume under a deal with CMOC Group, according to a market report issued by Access Bank Group.
“The Congolese government is also pushing for more control over copper sales in projects where it holds stakes, including Ivanhoe’s Kamoa-Kakula mine,” the report noted.
Meanwhile, Reuters reported that metals trading had traditionally been dominated by international firms such as Glencore.
However, both Zambia and the DRC—together accounting for over 13 percent of global copper supply—have intensified efforts over the past year to secure a share of the mined metal for direct trading.
“Congo’s state-owned miner, Gécamines, is close to finalizing a deal with Glencore to secure an allocation of about 51,000 metric tonnes of metal from Kamoto Copper Company,” Reuters reported, citing two sources familiar with the negotiations.
The sources did not specify when the agreement would be concluded, and Glencore declined to comment.
Additionally, the Congolese government is reportedly seeking greater control over metal sales in projects where it holds stakes, according to one source.
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