Kamoto Copper Company (KCC) is effectively majority-owned by Glencore through its subsidiary Katanga Mining. Glencore holds approximately 75 percent of KCC's economic interest. The remaining approximately 25 percent is held through a DRC state participation structure, with Gécamines and associated government vehicles holding the minority position.
Ownership
Glencore's ownership of KCC runs through Katanga Mining Limited, a company that was formerly listed on the Toronto Stock Exchange and was taken private by Glencore through a 2018 acquisition of the minority shareholders. After delisting, Katanga Mining became a wholly owned Glencore subsidiary, making KCC effectively a 75 percent Glencore asset with a 25 percent state participation interest.
The state's 25 percent position in KCC exceeds the 10 percent minimum free-carried interest required under Article 71 of the 2018 Mining Code and reflects historically negotiated terms from successive restructurings of the project's JV agreement.
What KCC produces
KCC produces copper and cobalt from the Kamoto and T17 underground mines near Kolwezi in Lualaba province. Published Glencore figures place KCC copper output in the 150,000–200,000 tonne per year range, with cobalt as a co-product. The processing circuit includes a concentrator and electrowinning facilities.
Where KCC sits in Glencore's DRC portfolio
KCC is Glencore's older DRC cobalt asset; Mutanda is its newer and higher-volume one. Together, they give Glencore more DRC cobalt production exposure than any other company based on the combined run rates at full production. Glencore markets most KCC and Mutanda cobalt hydroxide through its trading operation, selling to refiners predominantly in China, Belgium, and Finland.
