Africa’s copperbelt experiment grows as DR Congo miner boosts US supply deal.
The revised volume is around five times higher than previously disclosed, underscoring the rapid scale-up of a vehicle central to Washington’s broader critical minerals strategy in Central Africa.
The expanded pledge comes as Gécamines seeks to monetise minority stakes in some of the country’s largest mining assets, including Glencore’s Kamoto Copper Company and the Chinese-operated Tenke Fungurume mine, one of the world’s richest copper and cobalt deposits. The arrangement allows production linked to these holdings to be aggregated and sold through Mercuria, effectively converting equity positions into physical copper flows.
State-backed trading vehicles are increasingly emerging across Africa’s Copperbelt as governments attempt to exert greater influence over commodity exports. Zambia’s Industrial Development Corporation has already launched a similar Mercuria-supported structure, placing the two neighbouring countries at the forefront of an experimental model in mining trade.
“This is rare for mining,” said Ekpen Omonbude, senior policy adviser at the International Institute for Sustainable Development.
Gécamines has previously said the partnership would improve visibility over its portfolio and strengthen control over how its resources are marketed. However, operational control remains with Mercuria, which continues to act as the seller of record while Gécamines builds the capacity for a future in-house trading arm.
Analysts remain cautious about how quickly that transition could materialise. Piotr Kulas, lead copper supply analyst at Benchmark Mineral Intelligence, said he “wouldn’t bet his money on it” happening soon, noting that global metals trading depends heavily on established networks and infrastructure.
Benchmark’s Albert Mackenzie added that developing a full trading operation would require significant investment in financing, insurance, and risk management capabilities, as well as physical market access.
The development highlights growing competition for African critical minerals as Western economies seek to secure supply chains for the energy transition and advanced manufacturing.
DR Congo, which already dominates global cobalt production and is a major copper supplier, is increasingly positioning state institutions to play a more active role in export marketing.
The Mercuria-linked structure reflects a broader shift towards hybrid state-private trading models, though questions remain over how quickly African state miners can build the institutional capacity required to operate independently in global commodity markets.
Source: Africabusinessinsider