Cobalt - Copperbelt Katanga Mining

Eurasian Resources Group Denies Accusations of Subcontracting Fraud in the DRC 1

Eurasian Resources Group (ERG) has refuted allegations of attempting to circumvent subcontracting laws in the Democratic Republic of Congo (DRC), aimed at promoting local ownership in the mining sector and fostering economic benefits. In response to Congo government’s accusations of presenting nine subcontracting companies as majority partners with fictitious shares to evade the requirement of Congolese shareholders owning 50% of subcontracting shares, ERG issued a statement denying any involvement in illicit activities. The Regulatory Authority for Subcontracting in the Private Sector revealed that over $535 million in sales had been… Read More Here

Zijin’s Congo mine shipments returned due to radiation levels

April 24, 2024April 24, 2024 Constance0 comment

Mineral shipments from a Congolese copper and cobalt operation majority-owned by China’s Zijin Mining Group Co. Ltd were returned due to overly high radiation levels, the Congolese mines minister said in a letter seen by Reuters on Monday. The letter, dated April 12, informed the COMMUS project in which Zijin owns a 72% stake that the ministry had suspended its licence while it investigated the issue. “I am informed of the return of your shipments that exported … mineral products to South Africa on the grounds that their radioactivity content… 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 Constance0 comment

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 Constance0 comment

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

Mining in DRC Cobalt Copper

Zijin’s DRC Copper Mine Suspended Over Radiation Worries

April 21, 2024April 21, 2024 Constance0 comment

Recent developments have led to the suspension of operations at the La Compagnie Minière de Musonoie (COMMUS) project, a key copper and cobalt mine operated by Zijin Mining Group Ltd. in the Democratic Republic of Congo (DRC). Reports indicate concerns over elevated radiation levels in the cobalt extracted from the mine. Sources familiar with the situation revealed that COMMUS has been non-operational since earlier last week. Government officials are actively involved in overseeing the suspension of production and conducting tests on cobalt shipments. Some shipments, which were previously exported, have… Read More Here

Mining in DRC Battery Metals Cobalt

DRC Explores Export Quotas to Stabilize Cobalt Prices

April 13, 2024April 13, 2024 Constance0 comment

The Democratic Republic of Congo, the world’s leading cobalt producer, is exploring options to boost the price of the battery metal, including the potential implementation of export quotas. This move comes as cobalt prices have plummeted by two-thirds since mid-2022 due to an oversupply situation exacerbated by excessive production from Congo, which accounts for about 75% of global cobalt supply. President Felix Tshisekedi has expressed concerns about the price slump and has tasked the government with investigating measures to ensure a fair price for cobalt. The government is now seeking… Read More Here

Mining in DRC Battery Metals Cobalt

Eurasian Resources Group Inks MoU to Supply Cobalt to Japanese market with Mechema and Marubeni

April 13, 2024April 13, 2024 Constance0 comment

.The agreement with Mechema and Marubeni will explore the potential supply of cobalt hydroxide (up to 3ktCo per annum), and the production and marketing of cobalt sulfate .The potential cooperation could increase cobalt supply alternatives for Japanese market, which is showing substantial growth in demand due to global surge in EV adoption .It also supports ERG’s ambition to supply its cobalt to all key regions that will produce main portion of battery materials, one of which will be Japanese suppy chain Eurasian Resources Group (“ERG” or “The Group”), a leading… Read More Here

Mining in Zambia Battery Metals Cobalt

Electra Battery Partners with ERG for DRC’s Cobalt Supply

April 9, 2024April 9, 2024 Constance0 comment

In the race for the Democratic Republic of Congo’s (DRC) rich mineral resources, valued at a staggering $24 trillion, Electra Battery Materials has taken a significant stride. Recently, the company announced a pivotal agreement with Eurasian Resources Group (ERG) for a steady supply of Congolese cobalt. Under this arrangement, ERG, based in the DRC, will deliver 3,000 tonnes of cobalt hydroxide annually from its Metalkol operation to Electra. This cobalt will be channeled to a refinery located near Toronto, starting in 2026. This strategic partnership aligns with the United States’… Read More Here

Mining in DRC Cobalt Copper Mining Process You got to know this

The Mining Process in the Democratic Republic of Congo

April 7, 2024April 7, 2024 Constance0 comment

The Democratic Republic of Congo (DRC) is a country rich in natural resources, particularly minerals, making mining a significant contributor to its economy. With vast reserves of cobalt, copper, gold, diamonds, and other minerals, the DRC holds a prominent position in the global mining industry. Let’s delve into the mining process in this mineral-rich nation. 1.Exploration: The mining process in the DRC typically begins with exploration activities aimed at identifying potential mineral deposits. Exploration methods may include geological surveys, remote sensing, drilling, and sampling to determine the size, grade, and… Read More Here

Mining in DRC Cobalt Copper

Progress Update on Red Rock Resources’ Arbitration in the DRC

April 7, 2024April 7, 2024 Constance0 comment

Red Rock Resources, listed on AIM, has issued a significant update regarding its ongoing arbitration proceedings in the Democratic Republic of Congo (DRC) concerning the company’s stake in the VUP copper/cobalt joint venture (JV). As of February 5, Red Rock announced that the finalization of the arbitration award regarding its claim for a portion of the sale proceeds from a JV asset was pending signature and release. Despite a temporary halt in proceedings due to Presidential elections and the subsequent formation of a new administration, Red Rock has indicated that… Read More Here