With this agreement, and KICO’s estimated production of between 240,000 and 290,000 tons of zinc metal contained in the concentrates, as well as germanium and gallium, Gécamines will become KICO’s main customer and the leading zinc exporter in the Democratic Republic of Congo.

“This ambitious off-take agreement, however, is only the first step in a broader strategy with KICO that aims to move towards the processing of zinc concentrates, but also copper, germanium, and gallium, and thus become the sole buyer of KICO’s production,” emphasizes Mr. Guy-Robert LUKAMA, Chairman of the Board of Directors of Gécamines SA.

This new partnership stems from Gécamines’ specific contractual rights to purchase KICO’s production since 2023.

Gécamines’ ability to exercise these rights was made possible thanks to the partnership established in December 2025 with Mercuria Energy Trading, which provides the necessary financial, logistical, and commercial capabilities.

This new agreement between Gécamines and KICO strengthens its commercial strategy and further positions the Democratic Republic of Congo as one of the world leaders in the global trade of strategic minerals. “This operation, which now positions Gécamines as the country’s leading zinc exporter, is further proof of Gécamines’ commitment to regaining control over the raw materials produced in the DRC, particularly through its partnerships,” stated Mr. Placide NKALA, the General Manager of Gécamines SA.

About KICO

KICO is a joint venture between Gécamines SA and Ivanhoe Mines, responsible for operating the Kipushi polymetallic mine in Haut-Katanga. Currently a minority shareholder in the project, Gécamines will become the majority shareholder for the subsequent phases of its operation after the completion of the Big Zinc project.

Contact Press:

Communication Department – Gécamines SA

press@gecamines.cd

www.gecamines.cd

This transaction is the first direct purchase of volumes reserved for Gécamines through one of its partnerships. It represents 20% of TFM’s production, in line with Gécamines’ shareholder stake.

This volume of copper, spread over the 2026 financial year, is intended for the American market, thus meeting certain expectations of the recent agreements made between the Democratic Republic of Congo and the United States of America. Gécamines is pleased to carry this initiative out in alignment with the objectives of His Excellency the President of the Republic, Félix-Antoine Tshisekedi Tshilombo.

“This first marketing operation is an extension and development of the competitive offer system established for the products of Gécamines’ partnerships, which has been in place since 2023 and has been successfully executed thus far,” announced Guy-Robert Lukama, Chairman of the Board of Directors of Gécamines SA.

“We are pleased with this first operation, which is the result of work carried out for more than a year to strengthen the position of the Democratic Republic of Congo in the global market for raw materials and to affirm the Congolese state’s desire to regain its sovereignty over its subsoil,” said Placide Nkala Basadilua, Chief Executive Officer of Gécamines SA.

Overview

A strategic turning point for the DRC’s economic sovereignty

Since the end of the 1990s, marketing of metals produced on Congolese territory has been mainly carried out by foreign third parties, depriving the State of the ability to make optimal use of its national production. The establishment of Congolese structures for the marketing of metals produced in the country is a historic return to the global value chain for the country, and will facilitate better integration for the DRC into the physical and financial flows from its mining production.

A rise in power already underway

Thanks to the marketing rights obtained on a share of the production generated through its partnerships, Gécamines is now positioned among the most influential global players in the sector. The competitive market consultation implemented made it possible for:

• A better promotion of Congolese products;
• An increase in the tax base for the State
• A diversification of buyers strengthening the country’s commercial independence.

In the long term, Gécamines is aiming for sales rights of up to 500,000 tons of copper and 40,000 tons of cobalt, confirming its ambition to once again become a global player in the critical raw materials market.

A new step: The creation of Gécamines Trading

For Gécamines, and the Democratic Republic of Congo, this evolution towards a 100% trading subsidiary company offers an opportunity to provide value from the country’s production to end customers, first by becoming a buyer of a share of the production of its partnerships and then by becoming a seller with international weight. In addition to the geostrategic implications of increased competition between nations for access to raw materials, this will allow the DRC to benefit directly from the revenue generated by this activity.

A strategic alliance with Mercuria

To ensure the operational success of the project, Mercuria, one of the world’s leading commodity trading groups, has been selected by Gécamines as a strategic partner. It provides financial, logistical and technical support, ensuring the necessary credibility in international markets and rapid ramp-up.

Statement

“The creation of Gécamines Trading marks a decisive step for the Democratic Republic of Congo. It is an instrument of sovereignty, transparency, and enhancement of our natural resources for the benefit of the Congolese people,” said the Chairman of the Board of Directors of Gécamines SA.

Press contact:
Communication Department – Gécamines SA
press@gecamines.cd
www.gecamines.cd

This partnership, developed under a memorandum of understanding signed earlier this year, establishes a framework for optimizing Gécamines’ copper and cobalt production revenues. It aims to guarantee transparent and competitive trading terms, maximize local benefits, and give Gécamines greater visibility and control over the tonnage allocated to it through its partnerships, representing its “Equity Tons” shareholding.

Strategic Objectives and Partnership Structure
A key feature of the partnership is that Gécamines will now be able to participate directly in calls for expressions of interest for its “Equity Tons.” This will allow the partnership to obtain competitive prices while ensuring that its resources are marketed transparently and strategically. This new approach strengthens Gécamines’ ability to actively participate in the trade of its raw materials and reinforces its position in global value chains.

Furthermore, this partnership allows Gécamines to direct its tonnages to strategic markets for end users. By leveraging Mercuria’s global network and expertise, Gécamines 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.

Mercuria will provide operational support, including logistics, market access, and its expertise in implementing this trade policy. The collaboration also emphasizes capacity building, with Mercuria supporting the training and development of Gécamines staff in trading, risk management, and operational processes.

Catalyzing Investment and International Partnership
The United States’ International Development Finance Corporation (DFC) has also formally expressed interest in taking a strategic financial stake in this partnership. This expression of interest underscores the initiative’s alignment with global development goals and the strengthening of resilient and transparent supply chains for critical minerals. The DFC’s involvement demonstrates the commitment of the counterparties and the DFC’s interest in further promoting and ensuring the partnership’s commitment to responsible sourcing, local empowerment, and market integrity.

Strategic Access and Expanded Scope
Under the investment contemplated in the DFC’s Letter of Interest, the partnership would grant U.S. end users a right of first refusal, providing U.S. industries with access to critical minerals essential for economic growth and competitiveness.

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. These elements are increasingly critical in advanced manufacturing applications, including semiconductors, solar technologies, and electric vehicles, underscoring the partnership’s global relevance and forward-looking approach.

Furthermore, Mercuria will offer financing facilities to Gécamines, including pre-financing and production financing, to increase operational flexibility and accelerate commercialization. These financial tools will strengthen Gécamines’ ability to actively participate in global markets while reinforcing the financial viability of the partnership.

Strengthening Congolese Sovereignty and its Industrial Vision
This partnership aligns with Gécamines’ long-term vision to develop national commercial and marketing capabilities, positioning the partnership as an active player in global value chains.

“This collaboration marks a pivotal step in Gécamines’ journey to strengthen its role in the global metals market. This initiative primarily aims to ensure that Congolese copper and cobalt are traded transparently and fairly for the benefit of the country. It is important to note that this partnership gives Gécamines the ability to strategically direct its equity tonnage to end-user markets that align with our vision of strong and sustainable economic growth,” said Guy Robert Lukama, Chairman of Gécamines SA.

“This partnership redefines how the DRC interacts with global metals markets,” said Kostas Bintas, Global Head of Metals and Minerals at Mercuria. “It gives Gécamines greater control and visibility over its strategic resources, while integrating commercial discipline and maximizing value for Congolese stakeholders. We are proud to be Gécamines SA’s partner of choice in recognition of Mercuria’s strong ethical profile and its presence in the African Copperbelt.”

A Platform for Future Growth
The partnership is already operational and represents a significant step forward in transforming the marketing of critical minerals in the DRC. In addition to its core activities, the collaboration will explore investment opportunities in logistics infrastructure within the DRC to facilitate the efficient export of strategic raw materials. These investments aim to strengthen the country’s position in global markets while unlocking additional growth potential for the partnership.

About Gécamines
Gécamines SA is a Congolese mining company, wholly owned by the state, with a strategic portfolio of copper and cobalt assets. Its mission is to foster national development and industrial growth through the mobilization of its resources.

About Mercuria
Mercuria is one of the world’s largest independent energy and commodities groups, with a strong presence in global supply chains, energy transition assets, and strategic infrastructure. Founded in Geneva, Switzerland, the company operates in more than 50 countries.

About DFC
The U.S. International Development Finance Corporation (DFC), established in 2019 with bipartisan support under President Trump, is the international investment arm of the U.S. government. The DFC partners with the private sector and allied countries to foster economic development, advance U.S. foreign policy, and return to American taxpayers by mobilizing private capital around the world.

Press Contact:
press@gecamines.cd