Glencore's DRC Operations Contribute $923M to Government in 2023, Boosting Economy

On December 10, 2024, Glencore CEO Gary Nagle met with DRC President Félix Tshisekedi and Prime Minister Judith Suminwa in Kinshasa to reaffirm the company’s commitment to the country’s economic and social development.

With over 17,000 employees, Glencore has been a major player in the DRC’s mining sector since 2007. In 2023 alone, Glencore’s operations through Kamoto Copper Company (KCC) and Mutanda Mining (MUMI) paid a remarkable USD 923 million in taxes, royalties, and other obligations to the DRC government.

This contribution underscores the pivotal role that Glencore’s investments play in the DRC’s economy, with over USD 8 billion already invested in the country.

Glencore’s presence in the DRC spans nearly two decades, and its impact reaches far beyond its financial contributions.

Through its flagship projects, KCC and MUMI, the company has helped boost local economies, provide thousands of jobs, and fund social development initiatives.

The company has committed over USD 100 million to various projects aimed at improving health, education, and infrastructure in surrounding communities.

“We are proud of the positive role Glencore plays in supporting the DRC’s economic growth,” said Gary Nagle. “Our partnership with the government and local communities is built on mutual respect and shared goals.

Our investments in the DRC’s mining sector provide vital resources for the global market while generating long-term economic benefits for the people of the DRC.”

Impact on the DRC’s Economy and Society

Glencore’s operations in the DRC are central to the country’s mining sector, with significant contributions to both the national economy and local communities.

The company’s two main operations KCC and MUMI are located in the heart of the DRC’s mineral-rich Lualaba Province, near Kolwezi.

These operations produce key resources like copper and cobalt, which are essential for the global clean energy transition, driving demand across the world.

KCC is a partnership with Gécamines, the DRC’s state-owned mining company, while MUMI is 95% owned by Glencore, with the remaining 5% held by the DRC government.

Both projects have helped create thousands of direct and indirect jobs, offering a steady income for local workers and their families.

In addition, Glencore’s investments have supported educational programs, healthcare facilities, and infrastructure projects, enhancing the quality of life for the DRC’s citizens.

Beyond job creation, Glencore’s investments are critical in driving the DRC’s fiscal stability.

The USD 923 million in taxes and royalties paid in 2023 represents a vital source of revenue for the government, supporting public services, infrastructure, and development initiatives across the country.

The company’s ongoing investments have contributed to the development of local infrastructure, including roads, schools, and hospitals, fostering an environment of shared prosperity.

Global Market Implications

The DRC is one of the world’s largest producers of cobalt, a critical mineral for electric vehicle batteries and other high-tech applications.

Glencore’s operations at KCC and MUMI play an essential role in the global supply chain for these minerals.

As the world moves toward greener energy solutions, the demand for cobalt and copper continues to rise, positioning the DRC as a key player in the global transition to sustainable energy.

By strengthening its partnerships with the DRC government, Glencore ensures that the country remains at the forefront of this critical industry, benefiting both local communities and the broader global economy.

“Glencore is fully committed to helping the DRC realize its immense potential,” said Nagle.

“Our continued investments and collaborations with the government aim to ensure that the people of the DRC benefit from their country’s vast mineral wealth, and that these resources contribute to global economic growth.”

Through its operations, Glencore is not only contributing to the DRC’s immediate economic needs but is also positioning the country as a major force in the global energy transition.

With ongoing investments, the future looks bright for both the DRC and the global markets that rely on its resources.