Mercuria and Congo’s Gecamines start mineral trading partnership

Mercuria Energy Trading is setting up a copper and cobalt trading partnership with Democratic Republic of Congo’s state-owned miner Gecamines SA, the African company announced Thursday.

“By leveraging Mercuria’s global network and expertise, Gecamines gains greater control over the destination of its copper and cobalt tonnages, ensuring these essential resources are marketed to buyers aligned with the DRC’s long-term economic and industrial priorities,” it said in a statement.

The announcement comes after the DRC and the US signed a strategic partnership agreement Thursday in Washington to collaborate on mining, energy and infrastructure projects.

Switzerland’s Mercuria will provide operational support, including logistics, financing, market access, and expertise, Gecamines said. The US International Development Finance Corp. has also signed a letter of intent to discuss taking a financial stake in the venture, it said.

“While initially focused on copper and cobalt, the partnership is also expected to support the commercialization of other strategic minerals produced in the DRC, such as germanium and gallium,” Gecamines said.

(By Michael J. Kavanagh)