How is Orion Expanding Mineral Supply Chains with Glencore?

Glencore and the Orion Critical Minerals Consortium have entered a Memorandum of Understanding (MoU) in a move that could reshape critical mineral extraction in the Democratic Republic of Congo (DRC).

The agreement will provide Orion with strategic oversight into mining operations, while potentially securing supply routes between the US and one of Africa's most resource-rich nations.

The MoU centres on Glencore's substantial mining operations in the DRC.

Glencore operates through Kamoto Copper Company (KCC), which extracts copper and cobalt hydroxide from one underground mine and two open pit operations, alongside Mutanda Mining (Mumi), which produces copper and cobalt from three open pit mines.

According to the company, these assets produced 247.8 kt copper metal in 2025, representing approximately 30% of the group's global output, and 33.5 kt cobalt.

The proposed acquisition could see Orion CMC gain a 40% stake in Glencore's mining operations across both Mumi and KCC. Through this structure, the combined enterprise value of Mumi and KCC could reach approximately US$9bn.

"This proposed partnership between Orion CMC and Glencore has the potential to bring significant returns for both the United States and the DRC," explains Ben Black, CEO of US International Development Finance Corporation (DFC).

Strategic mining oversight

The acquisition structure will allow Orion CMC to appoint non-executive directors to influence asset governance and determine where its portion of the mining output is sold. This gives Orion CMC oversight rights and authority to determine the client base for copper and cobalt extraction, providing strategic influence over mineral distribution.

The arrangement aligns with the US-DRC Strategic Partnership Agreement, which could allow the United States and its partners to secure critical minerals extracted from Congolese operations. However, Mumi and KCC will remain under Glencore Group management despite Orion CMC's oversight position.

Gary Nagle, CEO of Glencore, says: "We are pleased that the US government and Orion CMC have recognised Glencore's role as the only major Western producer of copper and cobalt in the DRC, through our high-quality assets, Mumi and KCC."

The strategic oversight model represents a shift in how Western nations are approaching critical mineral security, balancing commercial interests with geopolitical considerations in resource-rich regions.

Expanding extraction capabilities

The DRC plays a vital role in supporting technology, defence and critical infrastructure as the world's largest producer of cobalt and one of the largest copper producers. In December 2025, DFC pledged more than US$1bn into two significant mining projects as part of the US-DRC partnership.

Part of the MoU includes plans to further expand mining operations at Mumi and KCC between Glencore and Orion CMC, with the additional acquisition of critical mineral projects under consideration.

Oskar Lewnowski, Founder and Chief Executive Officer of Orion Resource Partners LP, explains: "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 United States and its allies."

The expansion plans could significantly increase production capacity at both mining operations, potentially positioning the partnership as a cornerstone of Western critical mineral supply chains.

All supply chain, sustainability, Scope 3 and net zero leaders should attend:

• Procurement and Supply Chain LIVE: The Net Zero Summit - QEII Centre, London, March 4-5
• Procurement and Supply Chain LIVE: The US Summit - Navy Pier, Chicago, April 21-22

Co-located with Sustainability LIVE, these events brings together CSCOs, CSOs and senior decision-makers at a moment when sustainability, supply chains and commercial performance are increasingly interconnected.

Tickets can be booked online today for The Net Zero Summit and The US Summit. Group discounts available.

Strengthening bilateral mining relations

Orion CMC was established in October 2025 through a partnership between Orion Resource Partners and the US government to support secure, responsible and resilient supply chains for minerals considered critical for economic growth and security.

The current understanding still requires due diligence, regulatory approvals and documentation before mining operations can proceed under the new ownership structure.

Christopher Landau, US Deputy Secretary of State, comments: "This proposed transaction between Glencore and the US-backed Orion Critical Minerals Consortium reflects the core objectives of the US-DRC Strategic Partnership Agreement by encouraging greater US investment in the DRC's mining sector and promoting secure, reliable and mutually beneficial flows of critical minerals between our two countries."

Through this acquisition structure, there could be a strengthening of US-DRC relations in the mining sector, while potentially solidifying the supply of critical minerals to American markets during a period when extraction security and supply chain stability have become increasingly important for industrial operations.