• Gécamines will market copper tied to its 20% stake in Tenke Fungurume

• About 100,000 tons are planned for sale in 2026, mainly to the U.S. market

• Sales will be handled through a new trading venture with Mercuria

In the Democratic Republic of Congo, state-owned miner Gécamines has decided to exercise its right to purchase and market a share of copper production from CMOC’s Tenke Fungurume mine, in line with its 20% stake in the asset. The move, announced on Monday, January 12, is described as the first direct purchase of volumes reserved for Gécamines through one of its partnerships.

Tenke Fungurume is controlled 80% by China’s CMOC, with Gécamines holding the remaining stake. As part of efforts to boost its own revenues and, by extension, those of the Congolese state, the public miner led by Guy-Robert Lukama secured in 2023 the right to lift and commercialize the share of production corresponding to its equity interest. That right is now set to be implemented, with around 100,000 tons of copper expected for the 2026 financial year.

According to information released by the company, the copper volumes are intended for the U.S. market. The transaction will be managed by a recently created trading joint venture between Gécamines and Swiss commodities trader Mercuria. While sales terms have not been disclosed, the choice of the United States follows mining cooperation agreements signed in 2025 between Kinshasa and Washington.

The copper volumes, to be delivered over the course of 2026, are aimed at the U.S. market and align with expectations stemming from recent agreements between the Democratic Republic of Congo and the United States, the company said in a statement, adding that the initiative supports objectives set by President Félix-Antoine Tshisekedi Tshilombo.

Attention now turns to the execution of Gécamines’ trading ambitions and their tangible impact on the Congolese economy. At the same time, the state miner is preparing to scale up this activity, including through the launch of a dedicated subsidiary, Gécamines Trading. Over the longer term, the stated goal is to secure marketing rights of up to 500,000 tons of copper and 40,000 tons of cobalt.

Aurel Sèdjro Houenou