Glencore is facing renewed regulatory uncertainty in the Democratic Republic of Congo after the country’s tax authority sealed administrative offices at Kamoto Copper Company in Kolwezi on 9 July, following claims over alleged outstanding tax liabilities.
The tax authority is seeking payment of reported tax arrears amounting to several billion dollars. Glencore has disputed the claims and said it is continuing discussions with the relevant authorities. Mining and processing activities at Kamoto were not reported to have been disrupted following the administrative action.
Kamoto Copper Operations Remain Central to Glencore’s Congo Portfolio
Glencore holds a 70% ownership stake in Kamoto Copper Company, which produced approximately 190,000 tonnes of copper in 2025. The operation is targeting annual copper production of approximately 300,000 tonnes, making it a significant component of Glencore’s copper portfolio in the Democratic Republic of Congo.
Kamoto is also included in Glencore’s preliminary transaction discussions with the Orion Critical Mineral Consortium, which is supported by the US International Development Finance Corporation. Under the agreement reached in principle, Orion would acquire 40% of Glencore’s interests in two Congolese copper and cobalt operations.
Tax Claims Create Transaction and Cash Flow Risks
The unresolved dispute introduces uncertainty regarding potential financial liabilities, future dividend flows from the Congolese assets and completion of the Orion transaction. While the lack of an immediate impact on production limits short-term effects on operating performance, a prolonged tax dispute could influence transaction valuations and the timing of strategic investment decisions linked to Glencore’s Congo operations.
