{"id":102869,"date":"2026-07-13T17:45:08","date_gmt":"2026-07-13T17:45:08","guid":{"rendered":"https:\/\/www.europesays.com\/ch\/102869\/"},"modified":"2026-07-13T17:45:08","modified_gmt":"2026-07-13T17:45:08","slug":"drc-shuts-glencore-copper-offices-amid-tax-dispute","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ch\/102869\/","title":{"rendered":"DRC Shuts Glencore Copper Offices Amid Tax Dispute"},"content":{"rendered":"

Congolese tax authorities sealed the local offices of Glencore’s (LSE:GLEN,OTCPL:GLCNF)<\/a> Kamoto Copper subsidiary last Thursday (July 9) over a multibillion-dollar payment dispute, Bloomberg reported<\/a>.<\/p>\n

The government tax agency, known as the DGI, shut the Kolwezi offices after settlement talks between the state and the Swiss commodity trader collapsed. <\/p>\n

A Glencore<\/a> spokesperson stated the company disputes the DGI\u2019s claims and continues to engage with authorities. The raid did not disrupt physical mining or processing operations at the Kamoto complex.<\/p>\n

The escalation triggered direct intervention from the highest level of the DRC\u2019s government. During a cabinet meeting on Friday (July 10), President Felix Tshisekedi instructed the finance and mining ministries, along with revenue agencies, to stop executing unpredictable bank account seizures and asset freezes.<\/p>\n

\u201cOur ambition remains to build a competitive, transparent mining sector that creates sustainable value. That requires a stable legal environment, predictable administrative decisions and permanent dialogue between the state and economic operators,\u201d Tshisekedi reportedly told the cabinet<\/a>.<\/p>\n

Authorities were also ordered to prioritize legal dialogue and conciliation mechanisms over office raids. In a separate directive, the president commanded the immediate removal of soldiers and police officers stationed illegally at mining sites.<\/p>\n

Glencore holds a 70 percent stake in Kamoto, while the Congolese government and a state-owned enterprise control the remaining 30 percent. <\/p>\n

The site ranks as one of the largest production hubs in the DRC, the world\u2019s second-largest copper producer and top cobalt supplier. Kamoto outputted roughly 190,000 tons of copper last year and targets an annual capacity of 300,000 tons. <\/p>\n

In February, Orion CMC announced a preliminary deal<\/a> to acquire 40 percent of Glencore\u2019s interest in the site, a transaction that remains pending.<\/p>\n

With the tax authorities’ intervention, DRC continues its interventionist campaign to control critical mineral flows and capture higher revenues. <\/p>\n

Late last month, the Authority for the Regulation and Control of Strategic Mineral Substances’ Markets (ARECOMS) ordered cobalt producers<\/a> to forfeit all export quotas<\/a> left unused by a June 30 deadline.<\/p>\n

The government immediately transferred the seized volumes into a strategic national reserve to feed domestic processing hubs. The mandate enforces a strict quota system Kinshasa implemented last October following a devastating price collapse. <\/p>\n

Glencore, which controls roughly 3,925 metric tons of that allocation, reportedly secured a temporary extension earlier this year due to logistical bottlenecks. <\/p>\n

Don’t forget to follow us @INN_Resource<\/a> for real-time updates!<\/p>\n

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.<\/p>\n

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