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Swiss mining company Glencore has launched the ProAc project (https://apo-opa.co/4c6hTp6), aims to promote economic diversification, financial inclusion and food security in the region. The program, part of Glencore’s Environmental, Social and Governance (ESG) portfolio, will provide financing and skills training in the agri-food sector for local communities. The project aims to ensure that the country’s mineral resources benefit local development, infrastructure and workforce advancement.
To highlight its commitment to the economic development of the Democratic Republic of Congo, Glencore is participating in the Critical Minerals Africa (CMA) Summit 2024, with Marie-Chantal Kaninda (photo), the company’s President for the Democratic Republic of Congo and Chairman of Kamoto Copper Company (KCC), a joint venture between Glencore and Gecamines, as a speaker. Kaninda will share her insights during a Leaders Forum panel discussion – Innovation for a New Era in African Mining – exploring key trends in African mining.
Glencore’s technical expertise and investments will be vital as the Democratic Republic of Congo grows its role in the global critical minerals sector and energy transition
The 2024 Africa Critical Minerals Summit, held on 6-7 November, aims to position Africa as a leading investment destination for critical minerals. The event is held in conjunction with the Africa Energy Week: Investing in Africa Energy 2024 conference (https://AECWeek.com/) will take place from 4 to 8 November and will provide delegates with access to all-round leaders in Cape Town’s energy, mining and finance sectors. Sponsors, exhibitors and delegates can find out more by contacting sales@energycapitalpower.com
Glencore is advancing development (https://apo-opa.co/3WCDwJ8) copper and cobalt resources in the Democratic Republic of Congo, by implementing new technologies to increase production. In March 2024, KCC introduced Newtrax’s close-range detection technology in the second phase expansion of its KTO copper-cobalt mine (https://apo-opa.co/3Wyu8WO) near Kolwezi. The technology will aid exploration of critical mineral deposits and support KCC’s goal of producing 300,000 tonnes of copper and 30,000 kilotonnes of cobalt per year to drive the global energy transition. At the CMA, Kaninda will provide an update on its project portfolio and how the company is driving development of the critical minerals sector in the Democratic Republic of Congo.
The company is stepping up its investments to add value to the DRC’s critical minerals sector and support job creation through large-scale investments in the midstream sector and greenfield and brownfield projects. In 2022, the company resumed copper and cobalt production at its Mutanda mine, with the goal of increasing production from the mine to 5,000 metric tons from 2024. In 2021, Glencore announced a multi-year, $8 billion investment program to support project activities in the DRC, including the KOV and Mashimba East mines, the KTC mine and the Luilu refinery. Kaninda will highlight Glencore’s investment strategy as global demand for critical minerals increases and the DRC’s contribution to the global energy transition grows as the world’s largest cobalt producer and Africa’s largest copper miner.
Rachelle Kasongo, project director at CMA organiser Energy Capital & Power, said: “Glencore has contributed to the development of the copper and cobalt sectors in the DRC. As the DRC grows its role in the global critical minerals sector and energy transition, Glencore’s technical expertise and investment will be vital.”
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