Glencore Boosts Copper Output in DRC by 37% Amid Cobalt Export Restrictions

Glencore produced 210,600 tonnes of copper in the Democratic Republic of the Congo (DRC) during the first nine months of 2026, marking a 37% year-on-year increase. This growth underscores the strengthening role of copper in the Swiss group’s operations, even as ongoing restrictions on Congolese cobalt exports continue to weigh on that market.

Results published on October 29 reveal that this progress is driven by the performance of two key mining assets: Kamoto Copper Company (KCC) and Mutanda Mining, both located in the Lualaba province.

• KCC produced 158,900 tonnes of copper between January and September, up from 117,900 tonnes in the same period in 2025, representing a 35% increase.
• Mutanda recorded an even more significant rise of 44%, with production reaching 51,700 tonnes compared to 36,000 tonnes a year earlier.

This trend aligns with Glencore’s strategic shift to prioritize copper over other metals at its Congolese assets. The regulatory environment plays a direct role in this pivot. Since October 2025, the DRC has implemented a quota system governing cobalt exports. For 2026, the authorized annual volume is set at 96,600 tonnes, comprising 87,000 tonnes under the base quota and 9,600 tonnes under the strategic quota.

For producers, these limitations have altered the economic calculus between the two metals. Glencore has chosen to prioritize copper production whenever operational conditions allow. The company attributes the increase in output to higher extraction rates and improved ore grades.

Conversely, Glencore’s cobalt production from KCC and Mutanda fell by 56% in the first nine months of 2026, dropping to 11,600 tonnes.

These developments also occur against the backdrop of a strategic repositioning around Congolese critical minerals. In early February 2026, Glencore announced a memorandum of understanding with the Orion Critical Mineral Consortium (Orion CMC), a consortium backed by U.S. interests and led by Orion Resource Partners. The proposed transaction involves the acquisition of 40% of Glencore’s interests in KCC and Mutanda, based on a combined valuation of approximately $9 billion for the two assets.