Cobalt - Copperbelt Katanga Mining

DRC Suspends Cobalt Exports to Control Market Price: Risks and Opportunities 1

On February 22, 2025, the Authority for the Regulation and Control of Strategic Mineral Substances Markets (ARECOMS) announced a four-month suspension of cobalt exports from the Democratic Republic of Congo (DRC). This decision aims to address the global oversupply of cobalt, a key metal used in electric vehicle batteries and other technologies, and to give the Congolese government and its mining partners the ability to regulate cobalt prices. However, while the measure could help stabilize prices, it also presents several risks and challenges, according to various experts. The Reason Behind… Read More Here

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DRC Weighs Cobalt Export Quotas to Stabilize Prices

February 26, 2025February 26, 2025 Constance0 comment

The Democratic Republic of Congo (DRC) is considering introducing cobalt export quotas in an effort to curb oversupply and support prices. As the world’s largest supplier of cobalt, the country is seeking to counter historically low prices caused by sluggish demand from automakers and increased copper production, which yields cobalt as a by-product. The Congolese government has discussed implementing export limits, though no final decision has been made. Earlier this week, authorities imposed a four-month export ban to address the supply glut. The ban, announced by the Authority for the… Read More Here

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Congo’s Cobalt Export Ban Boosts Chinese Stocks Amid Supply Concerns

February 26, 2025February 26, 2025 Constance0 comment

Cobalt stocks surged in China on Tuesday following an unexpected export ban in the Democratic Republic of Congo (DRC), improving the short-term outlook for the key material used in alloys and batteries. Shares of Nanjing Hanrui Cobalt Co. soared by as much as 17% in Shenzhen, while Zhejiang Huayou Cobalt Co. gained 7.8%. In contrast, CMOC Group Ltd., which has been expanding operations at its two massive mines in the DRC, slipped 2% in Hong Kong. The DRC, the world’s leading cobalt producer, announced a four-month suspension of cobalt exports… Read More Here

Mining in DRC Cobalt Economy

DRC Suspends Cobalt Exports for Four Months to Stabilize Market

February 26, 2025February 26, 2025 Constance0 comment

The Democratic Republic of Congo (DRC) has announced a four-month suspension of cobalt exports to address an oversupply that has driven down global prices. The measure, which took effect on February 22, aims to align exports with global demand and stabilize the market. As the world’s leading cobalt producer, supplying about 75% of global output, the DRC has seen production surge in recent years, particularly due to increased output from major mining operations. However, this rapid growth has led to an imbalance between supply and demand, causing cobalt prices to… Read More Here

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Glencore Estimates $72 Billion in Reserves at Mutanda Mine in DRC

February 23, 2025February 23, 2025 Constance0 comment

In its 2024 report on reserves and resources, Swiss multinational Glencore, which specializes in the extraction and marketing of raw materials, provided projections suggesting that the Mutanda mine, located 40 kilometers from Kolwezi in the Democratic Republic of Congo (DRC), has measured copper and cobalt reserves valued at $72 billion. In the mining sector, potential resource assessments classify sites into three categories: measured reserves, which are highly reliable; indicated reserves, which are considered reliable but require further confirmation; and inferred reserves, which are less certain. Regarding Mutanda, Glencore’s latest report… Read More Here

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Ivanhoe Mines Issues 2024 Fourth Quarter and Annual Financial Results

February 23, 2025February 23, 2025 Constance0 comment

Ivanhoe Mines’ (TSX: IVN) (OTCQX: IVPAF) President Marna Cloete and Chief Financial Officer David van Heerden presented the company’s financial results for the fourth quarter and year ended December 31, 2024, and provide an operations and project development update. Ivanhoe Mines is a leading Canadian mining company developing and operating its four principal mining and exploration projects in Southern Africa: expanding production at the world-class Kamoa-Kakula Copper Complex in the Democratic Republic of the Congo (DRC); ramping up the ultra-high-grade Kipushi zinc-copper-lead-germanium mine in the DRC; building the tier-one Platreef… Read More Here

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Norinco Revises Bid for Chemaf’s Congo Mines, Offering Bigger State Stake

February 21, 2025February 21, 2025 Constance0 comment

China North Industries Corp (Norinco) has revised its $1.4 billion bid to acquire copper and cobalt assets from Chemaf SA by offering the Democratic Republic of the Congo (DRC) a larger stake to ease government concerns, sources familiar with the matter told Reuters. Norinco’s offer, initially submitted in June 2023, stalled after Congo’s state miner, Gécamines, made its own unsolicited bid for the assets. The situation has been further complicated by U.S. efforts to curb China’s dominance in the mineral-rich Copperbelt. To push the deal forward, Norinco has proposed increasing… Read More Here

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Glencore Rejects Unsolicited Bid for DRC Operations

February 17, 2025February 17, 2025 Constance0 comment

Miner and commodity trader Glencore has confirmed that it rejected an unsolicited offer for its operations in the Democratic Republic of Congo (DRC) at the end of last year. “Glencore has not engaged any banks or advisors and is not running a sale process for its operations in the DRC,” a company spokesperson stated in an email. Earlier, the Financial Times reported that Glencore had considered selling part or all of its Congolese assets and had engaged in preliminary discussions with a potential buyer from the Middle East regarding its… Read More Here

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Middlemen Divert Billions from DRC’s Cobalt and Coltan Trade

February 15, 2025February 15, 2025 Constance0 comment

The Democratic Republic of Congo (DRC), the world’s leading producer of cobalt, loses nearly $1 billion annually to illegal trade, fueling conflict and deepening poverty, according to political analyst Oluwole Ojewale of the Institute for Security Studies. The DRC supplies 70% of the world’s cobalt, essential for electric vehicle batteries and renewable energy projects. However, most of its production comes from 150,000 to 200,000 artisanal miners, with over a million people depending on their work. Operating in North and South Kivu, these miners extract minerals under harsh conditions, while middlemen… Read More Here

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557 Children Freed from Cobalt Mines in Haut-Katanga Reintegrated into Society

February 2, 2025February 2, 2025 Constance

A total of 557 children previously working in the cobalt mines at the Pumpe quarry in Kambove, Haut-Katanga province, have been successfully reintegrated into society. Joseph N’sambi Bulanda, the provincial Minister of Health and president of the monitoring committee for the PABEA cobalt project in Haut-Katanga, shared that non-formal education is also being integrated into this initiative. “We are collaborating with the village chief to make this happen,” he stated during his visit to the reintegration center in Kyembe village. The children have been placed at the Mwera 1 Institute,… Read More Here