Gécamines and Mercuria Launch Copper-Cobalt Joint Venture in DRC with Backing from U.S. International Development Finance Corporation (DFC)

GENEVA, Dec. 5, 2025  /PRNewswire/ -- Gécamines SA, the Democratic Republic of Congo's state-owned mining enterprise, and Mercuria Energy Trading announce the formation of a Joint Venture (JV), with support from the U.S. International Development Finance Corporation (DFC), aimed at transforming the commercialization of copper, cobalt, and other critical minerals from the DRC's mining sector. The collaboration enhances transparency, market access, and value retention within the DRC's mining ecosystem.

This partnership, developed under a Memorandum of Understanding signed earlier this year, establishes a framework for leveraging Gécamines' copper and cobalt production. It focuses on ensuring transparent and competitive global pricing, maximizing local benefits, and empowering Gécamines with greater visibility and control over its equity tons.

Strategic Objectives and Structure

A key feature of the partnership is that Gécamines will now be able to secure competitive pricing based on transparent international pricing benchmarks while ensuring its resources are marketed transparently and strategically. This new approach enhances Gécamines' ability to participate actively in commercialization and strengthens its position in global value chains.

Additionally, the partnership allows Gécamines to direct its equity toward strategic end-user markets. By leveraging Mercuria's global network and expertise, Gécamines gains greater control over its copper and cobalt destination, ensuring these critical resources are marketed to buyers aligned with the DRC's long-term economic and industrial priorities.

Mercuria will provide operational support, including logistics, market access, and expertise in trade execution. The collaboration also emphasizes capacity-building, with Mercuria supporting the training and development of Gécamines' staff in trading, risk management, and operational processes.

Catalyzing Investment and International Partnership

The Joint Venture has also received strategic support from the United States International Development Finance Corporation (DFC), which has issued a Letter of Intent for an equity investment into the partnership. This milestone underscores the initiative's alignment with global development objectives and the strengthening of resilient, transparent supply chains for critical minerals. The DFC's involvement highlights confidence in the venture's commitment to responsible sourcing, local empowerment, and market integrity.

Strategic Access and Expanded Scope

As part of the investment contemplated under the DFC's Letter of Intent, the Joint Venture will grant U.S. end-users a right of first refusal. This provision ensures that American industries—including those in energy, semiconductors, and defense—have secure access to critical minerals essential to economic competitiveness and national security.

While initially focused on copper and cobalt, the Joint Venture will also support the marketing of other strategic minerals produced in the DRC, such as germanium and gallium. These elements are increasingly vital in advanced manufacturing applications, including semiconductors, solar technologies, electric vehicles, and defense systems, underscoring the partnership's global relevance and future-facing approach.

Additionally, Mercuria will provide financing facilities to Gécamines, including pre-financing and off-take funding, to enhance operational flexibility and accelerate commercialization. These facilities strengthen Gécamines' ability to participate actively in global markets while reinforcing the venture's financial sustainability.

Empowering Congolese Sovereignty and Industrial Vision

The partnership aligns with Gécamines' long-term vision to build in-country trading and marketing capabilities, positioning the company as an active participant in global value chains.

"This collaboration marks a pivotal step in Gécamines' journey to strengthen its role in the global metals market. This venture aims to ensure that Congolese copper and cobalt are traded with transparency, fairness, and national benefit at the forefront. Importantly, this partnership gives Gécamines the ability to strategically direct its equity tons to end-user markets that align with our vision for sustainable and inclusive economic growth," said Guy Robert Lukama, Chairman of Gécamines SA.

"This partnership redefines how the DRC engages with global metals markets," said Kostas Bintas, Global Head of Metals and Minerals of Mercuria. "It empowers Gécamines with greater control and visibility over its strategic resources, while embedding commercial discipline and maximizing value for Congolese stakeholders. We are proud to be the partner of choice for Gécamines SA in recognition of Mercuria's strong ethical profile and presence in the African Copperbelt."

A Platform for Future Growth

The partnership is already operational and represents a significant step forward in transforming the commercialization of critical minerals in the DRC. In addition to its core activities, the collaboration will explore opportunities to invest in logistical infrastructure within the DRC to facilitate the efficient export of strategic raw materials. These investments aim to strengthen the country's position in global markets while unlocking further growth potential for the partnership.

About Gécamines
Gécamines SA is a Congolese state-owned mining company with a strategic portfolio in copper and cobalt assets. It is committed to leveraging its resources to foster national development and industrial growth.

About Mercuria
Mercuria is one of the world's largest independent energy and commodity groups, with a strong presence in global supply chains, energy transition assets, and strategic infrastructure. Founded in Geneva, Switzerland, the company operates across more than 50 countries.

SOURCE Mercuria Energy Trading