U.S. expands efforts to secure Congo's mineral resources

Congo's president visited Washington as U.S. officials pursued access to the country's copper and cobalt, and Glencore announced a preliminary agreement to sell 40% of its Congolese copper and cobalt assets to the Orion Critical Mineral Consortium, a group that includes U.S. government partners.

The Democratic Republic of the Congo, a major producer of copper and cobalt, was the focus of diplomatic and commercial discussions during President Félix Tshisekedi's visit to Washington. U.S. leaders framed mineral access alongside a U.S.-led peace process involving Congo and Rwanda, and they highlighted plans to bolster U.S. supply chains for critical minerals. A preliminary commercial agreement was announced in which Glencore would sell 40% of two Congolese mining assets to the Orion Critical Mineral Consortium, a group supported by U.S. and UAE state funds. The U.S. also unveiled Project Vault, a US$12-billion domestic critical-minerals stockpile, during the same period. Key details: - President Félix Tshisekedi attended a U.S. State Department critical minerals summit, met with U.S. officials including the secretary of state, and spoke at the National Prayer Breakfast during his Washington visit. - Glencore announced a preliminary agreement to sell 40% of its Congolese copper and cobalt assets (Mutanda Mining and Kamoto Copper Company) to the Orion Critical Mineral Consortium, with an implied combined value of about US$9 billion. - Orion CMC is described as being backed by the U.S. International Development Finance Corp. and ADQ of the United Arab Emirates, and the U.S. government is a partner in the consortium; U.S. officials also announced Project Vault, a US$12-billion stockpile initiative. Summary: The announcements represent a concentrated U.S. effort to increase access to Congo's copper and cobalt and to strengthen domestic critical-minerals capacity. Some analysts, cited in commentary, said such deals could narrow Congo's options and affect its policy autonomy. Undetermined at this time.