Gécamines and Mercuria Energy Together for Better or for Worse

November 2025

The state mining company of the Democratic Republic of Congo, Gécamines, has announced a strategic partnership with Mercuria Energy Group Ltd for the marketing of its share of copper and cobalt production from its joint ventures with major global players.

This move marks a new step in Gécamines’ commitment to maximise its participation in the country’s major mining projects, where giants such as Glencore Plc and CMOC Group Ltd exploit essential resources.

According to Gécamines President Guy-Robert Lukama, the company seeks to become more involved in the marketing and sale of its mining production but faces major financial and logistical challenges.

“We have started to identify those who could join us to overcome these obstacles, and we have chosen Mercuria to accompany us in this approach,” declared Lukama during the FT Metals and Mining summit in London.

However, the exact details of the collaboration between Gécamines and Mercuria remain to be specified.

Mercuria, traditionally a dominant player in the energy sector, is now developing in metals trading, with a particular focus on copper-rich countries in Central Africa, notably the Democratic Republic of Congo.

The group, which saw an increase in its metals trading profits of 300 million dollars in 2025, has also signed a strategic alliance with Zambia, the continent’s second-largest copper producer after Congo.

Kostas Bintas, head of the metals division at Mercuria, stated that further details on the partnership with Gécamines would be revealed shortly.

This partnership comes in a context where Gécamines seeks to regain control over the marketing of its production, after noting that sales at below-market prices were common in joint ventures with majority shareholders. The copper and cobalt produced in these joint ventures could represent between 300,000 and 400,000 tonnes of copper to be sold each year.

In addition, Gécamines plans to acquire Chemaf Resources Ltd, a copper and cobalt producer, an acquisition that would strengthen its immediate operational capacity. The Mutoshi project, a flagship Chemaf site, could become one of the world’s largest sources of cobalt if its development phase is completed.

Gécamines hopes to become a key shareholder in Chemaf, partnering with operators capable of running the mines, a move that, according to Lukama, will allow the company to strengthen its position on the international mining market and thus usher in a new era for Gécamines.

This partnership with Mercuria and the ambition to acquire Chemaf mark a major turning point for Gécamines, which is positioning itself as a bolder and more strategic player on the international copper and cobalt scene.

The company seems determined not to remain a spectator in the exploitation of its natural resources, but to play an active role in the trading and management of its metals.

By Stephane Mpidisi and Jeef Kazadi