• Agreement with Gécamines could extend KCC mine life into the 2040s
• Copper output target raised toward about 300,000 tons a year
• Move comes as Glencore negotiates sale of 40% stakes in its DRC mines

Glencore has secured access to additional land around its KCC copper-cobalt mine in the Democratic Republic of Congo, positioning the operation to run into the 2040s even as the Swiss mining giant explores bringing in a new investor.

The agreement, announced Wednesday, February 18, was signed with state-owned Gécamines and gives KCC room to expand its tailings storage and waste rock facilities — a technical step that could unlock more reserves and extend the mine’s productive life. Glencore owns 70% of KCC, one of the country’s flagship copper assets.

The company renewed KCC’s mining permits in 2024 for 15 years, through 2039. With the additional land access, its Congolese subsidiary says it will be able to maximize the exploitation of reserves and potentially operate beyond the current permit horizon.

KCC produced 188,700 tons of copper in 2025. Glencore now says it is targeting longer-term output of around 300,000 tons a year.

“This agreement will allow us to unlock the full potential of KCC by increasing efficiencies at the mine, facilities and other key infrastructure requirements. It will also help us to achieve our c.300,000 ton p.a. copper production long-term target and extend KCC's life of mine into the mid-2040s,” said Mark Davis, Glencore’s chief operating officer for Copper Africa.

Ownership in Flux

The timing of the agreement is striking. Earlier this month, Glencore signed a memorandum of understanding with U.S.-based Orion Critical Minerals to sell 40% stakes in its two Congolese mines.

At Mutanda, where Glencore controls 95%, a final agreement with Orion would still leave the Swiss group in a dominant position. At KCC, however, a 40% sale would reduce Glencore’s holding to 30%, putting it on equal footing with Gécamines, the current minority shareholder. Orion would also gain rights to a share of production proportional to its stake, lowering the portion attributable to Glencore.

Those talks have fueled speculation that Glencore may be reconsidering the scale of its exposure to the world’s leading cobalt producer and Africa’s top copper producer. The new agreement suggests a more nuanced strategy: reshaping ownership while reinforcing the asset’s long-term economics. By boosting output and extending the mine’s life, Glencore could mitigate the financial impact of any reduction in its stake.

The deal still requires the registration of leases and titles with the mining cadastre, a process expected in the coming months. Gécamines will retain rights over ore reserves extracted within the leased perimeter.

A Complex Operating Environment

Glencore’s long presence in the DRC has been marked by both opportunity and friction. In recent years, the company has faced recurring disputes with Congolese tax authorities over royalties and levies, as well as a decline in copper and cobalt production between 2022 and 2024.

In 2025, the government imposed an export embargo on cobalt for most of the year, later replacing it with a quota system. Glencore’s authorized export volume for the current year, 22,800 tons, is below its total 2025 cobalt production of 33,600 tons.

Against that backdrop, the company has increasingly emphasized copper over cobalt in its Congolese portfolio. Its ability to navigate regulatory constraints, manage production volatility and sustain investment will determine whether the bet on KCC’s extended life translates into durable returns.

Emiliano Tossou