Africa’s primary copper producers, the Democratic Republic of the Congo (DRC) and Zambia, are aggressively negotiating deals to secure a foothold in metal trading. With demand for copper skyrocketing due to its use in artificial intelligence (AI) and green energy, these countries seek a larger part of trading earnings.
For decades, transnational businesses such as Glencore have dominated the metal trade. However, during the last year, Congo and Zambia have increased efforts to trade their own mined copper. These countries supply more than 13% of the world’s copper, making them major players in the worldwide market.
Gecamines, Congo’s state-owned miner, is in talks with Glencore to acquire approximately 51,000 metric tonnes of metal from Kamoto Copper Company (KCC). The finalisation date is unknown. Glencore has declined to respond.
Gecamines has also started trading approximately 100,000 tonnes from its 20% interest in Tenke Fungurume Mining, after a 2023 agreement with Chinese owner CMOC Group. Meanwhile, Zambia and Mercuria, a Swiss commodity trader, have formed a joint copper trading unit with a $500 million budget.
While these measures may boost government revenue, researchers caution that disagreements over pricing, trading rights, and investor trust may pose long-term issues.
