Swiss mining company Glencore has launched the ProAc project (https://apo-opa.co/4c6hTp6) in the Democratic Republic of the Congo (DRC), aiming to promote economic diversification, financial inclusion and food security in the region. The initiative, part of Glencore’s environmental, social and governance (ESG) portfolio, will provide financing and skills training to local communities in the agri-food sector. The project seeks to ensure that the country’s mineral resources benefit local development, infrastructure and workforce advancement
To highlight its commitment to the DRC’s economic development, Glencore has joined the 2024 edition of the Critical Minerals Africa (CMA) Summit, with Marie-Chantal Kaninda, the firm’s President in the DRC and Chairman of Kamoto Copper Company (KCC) – a joint venture between Glencore and Gecamines – participating as a speaker. Kaninda will share her insights during a Leaders Forum panel – Innovation in a New Era of African Mining -, which explores key trends in African mining.
The Critical Minerals Africa 2024 summit on November 6 – 7 serves to position Africa as the primary investment destination for critical minerals. The event is held alongside the African Energy Week: Invest in African Energy 2024 conference (https://AECWeek.com/) on November 4 – 8, offering delegates access to the full scope of energy, mining and finance leaders in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@energycapitalpower.com
Glencore is advancing the development (https://apo-opa.co/3WCDwJ8) of the DRC’s copper and cobalt resources by implementing new technologies to boost production. In March 2024, KCC introduced Newtrax’s Proximity Detection Technology during phase 2 expansion at its KTO copper and cobalt mine (https://apo-opa.co/3Wyu8WO) near Kolwezi. The technology will aid in exploring critical mineral deposits and support KCC’s goal of producing 300,000 tons of copper per annum (ktpa) and 30,000 ktpa of cobalt to drive the global energy transition. At CMA, Kaninda will provide an update on its project portfolio and how the firm is driving the growth of the DRC’s critical mineral sector.
The company is ramping up investments to add value to the DRC’s critical minerals sector and support employment creation through large-scale investments across the midstream sector and in both greenfield and brownfield projects. In 2022, the firm resumed copper and cobalt production at its Mutanda Mine – with a target to increase output at the mine to 5,000 metric tons as from 2024 – as a result. In 2021, Glencore announced a multi-year $8 billion investment package to bolster activities in DRC projects including the KOV and Mashimba East Mines, the KTC Mines and the Luilu Refinery. Kaninda will highlight Glencore’s investment strategy as the global demand for critical minerals increase and the DRC – as the world’s largest cobalt producer and Africa’s largest copper miner – increases its contribution in the global energy transition.
“Glencore has contributed to the growth of the DRC’s copper and cobalt industries. As the DRC advances its position in the global critical minerals sector and the energy transition, Glencore’s technical expertise and investment will be crucial,” stated Rachelle Kasongo, Project Director at CMA organizer Energy Capital&Power.
Distributed by APO Group on behalf of Energy Capital&Power.