Gecamines Secures Major Copper Offtake From Tenke Fungurume

Gecamines has confirmed a significant copper offtake agreement that further reinforces the Democratic Republic of Congo’s position in the global copper market. Under the deal, the state-owned miner will purchase 100,000 tonnes of copper from the Tenke Fungurume mine, a major operation run by CMOC. This transaction represents a notable step in the country’s evolving mining strategy, combining commercial expansion with stronger state oversight of mineral sales.

The planned purchase is scheduled for 2026 and accounts for around 20 percent of Tenke Fungurume’s total annual output, a share that directly reflects Gecamines’ 20 percent ownership stake in the mine. Copper deliveries will be spread evenly throughout the year, ensuring steady volumes for export markets and predictable cash flows for all parties involved. All of the copper acquired under this agreement is destined for the United States, highlighting the strategic importance of the US as a key destination for Congolese copper at a time of growing demand for energy transition metals.

To support the execution of the offtake, Swiss commodities trading firm Mercuria has been selected as Gecamines’ strategic partner. Mercuria will provide financial backing, logistical coordination, and technical expertise, helping to manage transport, marketing, and risk across the supply chain. This partnership reduces operational complexity for Gecamines while strengthening its capacity to engage directly with international buyers and sophisticated commodity markets.

Beyond the commercial aspects, the agreement aligns closely with recent cooperation frameworks between the Democratic Republic of Congo and the United States, particularly in securing critical mineral supply chains. It also fits within broader reforms by the Congolese government aimed at increasing state control over mineral marketing and sales. By actively participating in export arrangements rather than relying solely on private operators, Gecamines is positioning itself as a more influential actor in determining pricing, destination markets, and value retention.

Looking ahead, this development is likely to have meaningful impacts on Africa’s mining landscape. For the Democratic Republic of Congo, the deal strengthens institutional control over copper exports, enhances trade relations with major consuming economies, and could improve revenue stability from one of its most important resources. Regionally, it signals a trend toward greater state participation in mineral commercialization, which may influence how other African resource-rich countries structure partnerships, manage strategic minerals, and position themselves within the global energy transition supply chain.

Mini-Glossary

• Offtake agreement: A contract in which a buyer agrees to purchase a specific quantity of a commodity from a producer over a defined period.
• Copper cathodes: High-purity copper sheets produced during refining, commonly used in global trade and manufacturing.
• Critical minerals: Raw materials considered essential for economic and national security, especially for clean energy technologies.
• Supply chain: The full process of producing, transporting, and delivering goods from source to end user.

Editor: Vural Burç ÇAKIR