Battery Metals - Copperbelt Katanga Mining

Critical Minerals Market Value Projected to Soar to $770 Billion by 2040

May 20, 2024May 20, 2024 Constance

The market value of critical minerals is projected to rise from its current $325 billion to $770 billion by 2040 under the Net Zero Emission (NZE) scenario, which aims for carbon neutrality by 2050. This projection is part of the “Global Critical Minerals Outlook 2024,” a study released by the International Energy Agency (IEA) on May 17, 2024. The report attributes the expected increase in market value to the surging global demand for minerals essential for the energy transition, including lithium, cobalt, copper, nickel, and rare earth elements. This demand… Read More Here

Mining in DRC Battery Metals Cobalt Copper

Who Truly Benefits from DRC’s Mineral Wealth?

May 19, 2024May 19, 2024 Constance

In 2023, the Democratic Republic of Congo (DRC) ranked second globally in copper and cobalt exports, according to the Central Bank of Congo (BCC). However, this raises a critical question: who actually benefits from the DRC’s mineral wealth? To answer this, MINES.CD examined Lualaba, the world capital of cobalt and a major hub for the DRC’s mining industry. This region, part of the former Katanga province, is rich in copper and cobalt, mined by multinationals such as Sicomines, Commus, Mutanda Mining, KCC, Kamoa, Tenke Fungurume Mining, Metalkol, and Ruashi Mining.… Read More Here

Mining in DRC Battery Metals Cobalt

US Official Accuses China’s CMOC of Predatory Pricing in Cobalt Market

May 16, 2024May 16, 2024 Constance

China’s CMOC Group Ltd. is being accused by a senior US official of employing “predatory” tactics to suppress cobalt prices by flooding the market with the metal sourced from the Democratic Republic of Congo mines. “What we’re seeing now, I feel, is a variation of predatory pricing,” said Jose Fernandez, Under Secretary for Economic Growth, Energy, and the Environment, during a Cobalt Institute conference in New York. His remarks highlight the US’s efforts to reduce China’s dominance in critical metals essential for the energy transition from fossil fuels. Cobalt, vital… Read More Here

Mining in DRC Battery Metals Cobalt Copper

Rwanda Ready to Drop “Conflict Mineral” Accusations Against Apple

May 14, 2024May 14, 2024 Constance

Rwanda has strongly denied accusations from the Democratic Republic of Congo (DRC) that Apple sources conflict minerals from a disputed area within the DRC. Rwandan government spokeswoman Yolande Makolo labeled these allegations as “baseless” and suggested they are part of ongoing attempts by the DRC to shift media focus onto Rwanda by leveraging Apple’s global profile. Apple has responded by reaffirming its commitment to responsible sourcing, stating it has verified the origins of minerals in its supply chain and found no evidence of financing armed groups in the DRC as… Read More Here

Mining in DRC Battery Metals Lithium

CNPAV Urges Probe into Cominière’s Handling of Manono Lithium Deposit

May 12, 2024May 12, 2024 Constance

In a press release issued on Friday, May 10, the Congo Is Not for Sale (CNPAV) coalition demanded an official investigation into the management of the Kitotolo-Manono lithium deposit by Cominière, a state-owned mining company in the Democratic Republic of Congo (DRC). The CNPAV alleges that Cominière received $70 million from Zijin Mining, a Chinese company headed by Jean David E’ngazi, who also sits on the board of directors of Cominière. The “donation,” as termed by CNPAV, was part of a joint venture agreement for the exploitation of the Kitotolo-Manono… Read More Here

Mining in DRC Battery Metals

Jean-Marie Kanda Urges DRC to Prioritize Sovereignty for Harnessing Strategic Minerals

May 12, 2024May 12, 2024 Constance

European countries and others have set ambitious targets to transition to electric mobility by 2035, with electric batteries being a cornerstone of this endeavor, consisting of lithium and other vital minerals found in the Democratic Republic of Congo (DRC). However, the DRC faces challenges in fully leveraging its strategic mineral wealth, as foreign mining companies currently hold significant control over these resources. At an energy conference held on Thursday, May 9, 2024, experts emphasized the need for the DRC to assert its sovereignty and swiftly adapt to capitalize on its… Read More Here

Mining in Zambia Battery Metals

Zambia to Kickstart Car Battery Manufacturing, Boosting Economic Growth

May 9, 2024May 9, 2024 Constance

Zambia is gearing up to launch car battery production by the end of July this year, with the arrival of essential manufacturing equipment. During a recent visit to the Jiangxi Multi Facility Economic Zone in Chibombo district, General Manager Xu Jianfeng outlined the upcoming two-month period dedicated to equipment testing and plant finalization before full-scale production commences. In the initial phase, the facility plans to produce 400,000 batteries, with production capacity set to double upon reaching full operational status. With nine investment agreements already secured, totaling over $100 million, the… Read More Here

Lithium Battery Metals International

Africa’s lithium supply to almost triple this year – Benchmark Mineral Intelligence

April 25, 2024April 25, 2024 Constance

Lithium production from Africa is projected to almost triple in 2024 compared to the previous year, according to Benchmark Mineral Intelligence. Chinese companies hold a virtual monopoly on lithium extraction in Africa, with over 90% of the continent’s projected lithium supply for this decade stemming from projects partly owned by Chinese entities, as estimated by Benchmark. Most of the increased supply is expected to come from Zimbabwe. It is estimated that the country produced 3,400 tonnes in 2023, placing it among the seven largest producers globally. The country is home… Read More Here

Battery Metals Cobalt Lithium Mining in DRC

Sub-Saharan Africa’s Energy Transition Minerals Valued at $2 Trillion by 2050

April 23, 2024April 23, 2024 Constance

Sub-Saharan Africa is poised to play a significant role in the global energy transition, with the potential to generate nearly $2 trillion from the production of essential metals by 2050, according to the International Monetary Fund (IMF). In a paper released on Friday, the IMF outlined that global revenue from mining key metals such as copper, cobalt, lithium, and nickel could soar to $16 trillion over the next 25 years, as projected by the International Energy Agency (IEA). Sub-Saharan Africa is expected to contribute around 12% of this total output.… Read More Here

Mining in Zambia Battery Metals Cobalt

Musonoïe Mining Company SAS Addresses Misinformation Regarding Cobalt Hydroxide Products

April 23, 2024April 23, 2024 Constance

In response to recent misinformation circulating in the media, Musonoïe Mining Company SAS has issued a clarifying statement regarding its cobalt hydroxide products. The company, headquartered in Kolwezi, Democratic Republic of Congo, asserts that certain claims regarding radiation levels in its products are unfounded rumors. Reports suggesting the exceeding of radiation standards and sensationalized narratives, including the closure of mining areas and involvement of armed forces, have been addressed directly by the company. Contrary to these assertions, Musonoïe Mining Company affirms that it operates in strict adherence to national and… Read More Here