KEY POINTS
- Glencore paid $923 million in 2023 to the DRC through taxes, royalties, and obligations, highlighting its economic importance.
- The company has invested over $8 billion in the DRC since 2007, supporting mining, infrastructure, and local development.
- Employing 17,000 workers, Glencore’s KCC and MUMI operations drive copper and cobalt production vital to global renewable energy and EV sectors.
Glencore Plc, the multinational commodity giant, has reiterated its dedication to the Democratic Republic of Congo (DRC), emphasizing its significant contributions to the nation’s economy and communities.Â
This commitment was reinforced during recent meetings in Kinshasa between Glencore CEO Gary Nagle, DRC President Félix Tshisekedi, and Prime Minister Judith Suminwa.
Economic contributions
Since commencing operations in the DRC in 2007, Glencore has played a pivotal role in the country’s economic landscape.
In 2023 alone, the company paid $923 million in taxes, royalties, and other financial obligations through its flagship operations, Kamoto Copper Company (KCC) and Mutanda Mining (MUMI). These payments underscore Glencore’s role as one of the largest contributors to the DRC’s government revenues.
To date, Glencore has invested over $8 billion in the country, supporting infrastructure development and enhancing the local mining sector according to Miningreview.
In addition, the company has allocated more than $100 million towards social development initiatives through its Cahier des Charges obligations and corporate social investment projects. These programs have focused on improving healthcare, education, and community infrastructure in mining regions.
Strategic operations in copper and cobalt
Glencore operates two key mining ventures in the DRC: KCC and MUMI. Both facilities are situated near Kolwezi in Lualaba province and are integral to the global supply of copper and cobalt, essential components for electric vehicles and renewable energy technologies.
KCC is a joint venture with Gécamines, the state-owned mining enterprise, while the DRC government holds a 5 percent equity stake in MUMI.
These operations employ more than 17,000 workers and contractors, contributing significantly to local job creation and skills development. Glencore Copper Africa CEO Mark Davis highlighted the company’s focus on sustainable mining practices, which aim to minimize environmental impact while maximizing economic benefits for the DRC.
Reinforcing partnerships
During the high-level meetings in Kinshasa, Nagle was joined by senior Glencore executives, including Anne Edwards, Head of Corporate Affairs, and Marie-Chantal Kaninda, President of Glencore DRC.
The discussions emphasized Glencore’s commitment to fostering strong relationships with the DRC government and supporting long-term growth initiatives.
President Tshisekedi lauded Glencore’s contributions to the nation’s development and encouraged further collaboration to ensure equitable growth in mining regions. The meetings reaffirmed Glencore’s intention to remain a reliable partner in the DRC’s economic transformation.
A vision for sustainable growth
As the demand for critical minerals such as cobalt and copper continues to rise globally, Glencore remains committed to investing in the DRC.
By prioritizing social development, job creation, and sustainable operations, Glencore aims to strengthen its position as a key driver of economic progress in the region.
