Orion Critical Mineral Consortium (Orion CMC) has signed a non-binding memorandum of understanding to acquire a 40% stake in Glencore’s assets in the Democratic Republic of Congo (DRC).
The potential transaction involves Mutanda Mining and Kamoto Copper Company, which have an estimated combined enterprise value of $9bn.
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Under the terms outlined, Orion CMC would gain the authority to appoint non-executive directors and manage the sale of its production share from these assets to specified buyers.
This arrangement aligns with the US-DRC strategic partnership agreement aimed at securing critical minerals for the US and its allies.
Glencore would continue to manage the Mutanda and Kamoto sites.
Both companies intend to explore opportunities to expand and develop these mining assets in collaboration with the DRC Government and Gécamines, Glencore’s partner in Kamoto.
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By GlobalDataThey are also considering acquiring additional critical mineral resources within the DRC and across the African copper belt.
Oskar Lewnowski, the founder and CEO of Orion Resource Partners, which runs Orion CMC alongside the US Government, said: “This proposed transaction is exactly what Orion CMC was established to achieve – securing long-life, high-quality production of critical minerals while supporting resilient supply chains for the US and its allies.
“It underscores both the scale of the opportunity and the strategic importance of the Consortium’s mission, and this partnership will create a strong platform from which Orion CMC can further develop critical mineral assets and pursue additional investment opportunities.”
Orion CMC, established in October 2025, aims to strengthen secure and sustainable supply chains for critical minerals that are vital for economic growth and security in allied nations.
The potential transaction is contingent on completion of due diligence, finalisation of binding agreements and obtaining necessary regulatory approvals.
Last month, Metallium announced a binding e-scrap supply agreement between its subsidiary Flash Metals USA and Glencore.
