On 3 February 2026, US Deputy Secretary of State Christopher Landau witnessed the signing of a memorandum of understanding between Glencore and the US-backed Orion Critical Mineral Consortium concerning a potential acquisition of assets in the Democratic Republic of the Congo. The deal advances Washington's strategy of securing reliable copper and cobalt flows from one of the world's most important mining nations.
Why the DRC is pivotal
The Democratic Republic of the Congo is the dominant global source of cobalt and a major copper producer, minerals essential to batteries, electronics and electrified transport. Control over these supplies has become a strategic priority as demand for battery materials accelerates, and the DRC sits at the centre of that competition.
The MOU reflects the objectives of a broader US-DRC Strategic Partnership Agreement, which encourages greater American investment in Congolese mining and promotes what officials describe as secure, reliable and mutually beneficial flows of copper and cobalt.
The role of a trading giant
Glencore is one of the largest players in Congolese copper and cobalt, giving it existing assets and operating experience that a US-backed consortium would find difficult to replicate quickly. Partnering with an established operator offers a faster route into the market than building from scratch.
- MOU signed 3 February 2026 between Glencore and the Orion consortium.
- Deal concerns potential acquisition of DRC mining assets.
- Supports the US-DRC Strategic Partnership Agreement on copper and cobalt.
- Aimed at diversifying supply of battery-critical minerals.
Scrutiny and sensitivities
The push into Congolese minerals has attracted scrutiny. Observers have raised questions about governance, transparency and the terms under which foreign consortia gain access to strategic assets, concerns that accompany many large mining transactions in the region.
For the DRC, the challenge is ensuring that foreign investment translates into lasting domestic benefit rather than simply extracting resources. The balance between attracting capital and safeguarding national interests shapes how such deals are received.
Part of a wider mineral diplomacy
The Glencore MOU is one element of an expansive US effort. Washington has signed multiple critical minerals frameworks and MOUs with countries spanning Latin America, Africa, the Pacific and Central Asia, reflecting a determined campaign to diversify sources of strategic materials.
What comes next
An MOU is a signal of intent, not a completed transaction. The potential acquisition must still navigate due diligence, negotiation and regulatory considerations before any assets change hands. Its progress will indicate how effectively US-backed capital can establish a foothold in a market long shaped by other major players.
For the global battery supply chain, the stakes are considerable. If the consortium succeeds, it would mark a meaningful step in Washington's drive to secure copper and cobalt, and a test of whether strategic partnerships can reshape flows from the world's cobalt heartland.