Ivanhoe Mines (IVN.TO) said it is in advanced discussions with Congo’s state miner Gécamines and Swiss commodities trader Mercuria to supply zinc-rich concentrate from its Kipushi mine to the United States under Washington’s new strategic stockpiling programme, Project Vault, according to Reuters report.
The plan is part of a broader minerals agreement between the United States and the Democratic Republic of Congo, as Washington intensifies competition with China for access to Africa’s vast mineral resources.
Project Vault is a $12 billion supply-chain security initiative launched on Monday, supported by $1.67 billion in private capital and a $10 billion loan from the U.S. Export-Import Bank.
The programme is designed to secure long-term global supplies of strategic metals and is a key part of President Donald Trump’s push to reduce U.S. dependence on China by ensuring Western access to critical materials needed for defence, clean energy, and advanced manufacturing.
Ivanhoe’s Kipushi zinc mine is expected to produce between 240,000 and 290,000 metric tons of concentrate this year.
The output includes notable amounts of germanium and gallium, minerals the United States considers critical for semiconductors, defence systems, and clean-technology applications.
Under the proposed arrangement, Mercuria would transfer its existing offtake for Kipushi concentrate to Gécamines’ trading arm and also market additional volumes as the mine ramps up production in late 2025, Ivanhoe said on Monday.
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According to the company, Gécamines could eventually manage up to half of Kipushi’s total output, including shipments destined for the United States.
Gécamines confirmed the partnership in a separate statement on Tuesday, noting that it is supported by a December 2025 agreement with Mercuria that provides financing and logistics to activate its offtake rights.
The state miner said the deal represents the first stage of a broader strategy to expand into processing zinc, copper, germanium, and gallium, with the aim of becoming the sole buyer of Kipushi’s production.
The move comes as the United States accelerates minerals deals in Congo.
Glencore (GLEN.L) and the U.S.-backed Orion Critical Mineral Consortium have announced a similar arrangement to route cobalt and copper from Congo into the U.S. supply chain under the same government-backed programme, highlighting growing competition among Western buyers for Congolese resources.
Kipushi, which contains ultra-high-grade zinc along with silver, copper, germanium, and gallium, remains one of Congo’s largest polymetallic deposits.
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Image Credit: Noir Africa
