• Q1 copper production reaches 199,600 tons, up 19% year-on-year
• DR Congo output jumps 68%, led by Kamoto and Mutanda
• Group maintains 2026 outlook despite rising input cost pressures

Glencore produced 199,600 tons of copper in the first quarter, marking a 19% year-on-year increase. The Swiss group attributes this growth mainly to strong performance from its operations in the Democratic Republic of Congo, where output rose by 68% to 67,900 tons.

In the DRC, Glencore operates the Kamoto Copper Company (KCC) and Mutanda copper-cobalt mines in Lualaba province. As the country has introduced export quotas on cobalt, significantly limiting volumes that producers like Glencore can ship this year, the company has shifted its operational focus toward copper production in 2026.

KCC delivered 51,900 tons of copper, up 72% year-on-year, while Mutanda produced 16,000 tons, a 55% increase. Only KCC produced cobalt, with output totaling 5,100 tons.

Glencore maintained its 2026 copper production guidance in the range of 810,000 to 870,000 tons. This suggests the company does not currently expect disruptions to its operations from the global shortage of sulfuric acid, a key input used in certain copper extraction processes, including those in the DRC.

The shortage stems from the war in Iran, which has largely disrupted traffic through the Strait of Hormuz, a major route for sulfur shipments used to produce sulfuric acid. This has removed about 50% of Middle Eastern supply from the global market, a region that accounted for 48% of Africa’s imports in 2025.

To mitigate the impact, Glencore is sourcing sulfuric acid from the Kamoa-Kakula smelter, where it is produced as a byproduct of copper processing, according to Ivanhoe Mines CEO Marna Cloete.

“Although the impact of the conflict on our industrial business was limited in the first quarter, recent and emerging impacts are now manifesting, primarily as an increase in input costs, most notably diesel and acid consumption, and the generally weaker USD,” said Glencore CEO Gary Nagle.

Emiliano Tossou