Congo Tax Authorities Seal Glencore Copper Mine Office Over Payment Dispute

en.Wedoany.com Reported - The tax authority of the Democratic Republic of Congo has sealed the offices of a copper mine owned by Glencore Plc, escalating a dispute over the amount the company should pay the state.

According to sources familiar with the matter, the Congolese tax authority (known by its French acronym DGI) closed the offices of Kamoto Copper Co. in the city of Kolwezi on Thursday. One of the sources said the seizure did not affect production at the nearby mine and processing facilities.

Congo is the world's second-largest copper producer and the largest cobalt producer, and Kamoto is one of its biggest copper and cobalt producers. Driven by factors including the artificial intelligence boom and the global energy transition, copper prices surged over 40% in 2025 and continued their rally in 2026.

Two sources, who spoke on condition of anonymity, said the tax agency alleges that the subsidiary of the Swiss commodity trading giant owes billions of dollars. According to one of them, the DGI intervened after settlement negotiations with the company yielded no results.

A spokesperson for Glencore said the company disputes the DGI's claims and is continuing to engage with the authorities.

Glencore holds a 70% stake in Kamoto. Kamoto produced approximately 190,000 tons of copper in 2025 and aims for an annual output of 300,000 tons.

Orion CMC, an investment vehicle backed by the U.S. International Development Finance Corp., announced a preliminary agreement in February to acquire a 40% interest from Glencore in Kamoto and another Congolese copper-cobalt mine. The transaction has not yet been completed.

The Congolese government and a state-owned company control the remaining 30% stake in Kamoto.