Cobalt – Copperbelt Katanga Mining

Mining giant China Molybdenum Co. Ltd. (CMOC)—a key player in the Democratic Republic of Congo through its operations at Tenke Fungurume Mining (TFM) and Kisanfu Mining (KFM)—achieved a significant milestone in 2024, posting impressive financial and operational results that solidify its status among the world’s top producers of strategic metals. According to the company, net profit attributable to shareholders rose by 64% to USD 1.9 billion, while revenue increased by 14.37% to reach USD 29.85 billion. CMOC also reported exceptional growth in operating cash flow, which surged by 108.38% to… Read More Here

Mining in DRC Battery Metals Cobalt Economy

DRC Extends Cobalt Export Ban to Boost Market Control and Local Processing

March 26, 2025March 26, 2025 Constance0 comment

President Félix-Antoine Tshisekedi has reaffirmed the Democratic Republic of Congo’s (DRC) commitment to maintaining the suspension of cobalt exports, as per the timetable set by the Strategic Mineral Substances Market Regulatory and Control Authority (ARECOMS) since February 22, 2025. The decision was confirmed during the 36th Council of Ministers meeting on March 21. “To safeguard the state’s strategic interests and enhance the sector’s economic attractiveness, the President has directed that the suspension of exports remain in place in accordance with ARECOMS’ decisions,” the government reported. Tshisekedi highlighted the suspension’s success,… Read More Here

Mining in DRC Cobalt Copper

Chemaf Scraps Norin Mining Deal Amid US-China Mineral Tensions

March 22, 2025March 22, 2025 Constance0 comment

Copper and cobalt producer Chemaf Resources Ltd. has abandoned its planned sale to Norin Mining Ltd., marking a potential victory for US efforts to curb China’s influence over global mineral supply chains. The deal collapsed after Democratic Republic of Congo (DRC) authorities failed to approve the transaction, according to a source familiar with the matter. Chemaf, backed by commodity trader Trafigura Group, informed creditors that the sale to Norin—a subsidiary of China’s state-owned Norinco Group—would not proceed. Congo’s state-owned mining company, Gécamines, which holds the permit for Chemaf’s Mutoshi cobalt… Read More Here

Mining in DRC Battery Metals Cobalt Copper

CMOC Posts Record Earnings in 2024 on Strong Cobalt and Copper Output

March 22, 2025March 22, 2025 Constance0 comment

China’s CMOC Group Ltd., the world’s largest cobalt producer, reported record earnings in 2024, driven by increased production, higher sales, and rising copper prices. The company’s net income surged 64% to 13.5 billion yuan ($1.9 billion), surpassing analysts’ estimates of 12.3 billion yuan. Revenue rose 14% to 213 billion yuan, also exceeding forecasts. CMOC attributed its strong performance to capacity expansions and efficiency improvements. “Mining is a cyclical industry, and accurately understanding market cycles is key to successful expansion,” the company stated in its earnings report. “At the bottom of… Read More Here

Mining in DRC Battery Metals Cobalt

DRC Partners with Indonesia to Regulate Global Cobalt Supply

March 22, 2025March 22, 2025 Constance0 comment

The Democratic Republic of Congo (DRC) has announced a partnership with Indonesia to strengthen its control over cobalt supply on the international market. The decision, made by the Economic Situation Committee, was officially presented by Prime Minister Judith Suminwa Tuluka during the 35th Council of Ministers meeting on March 14, 2025. Following a four-month suspension of cobalt exports, the DRC—holder of 75% of the world’s cobalt reserves—is determined to manage its supply effectively. The suspension was initially imposed due to an oversupply in global markets, which led to a decline… Read More Here

Copper Cobalt Economy Mining in DRC

Congo’s Copper and Cobalt Export Suspension Impacts Prices

March 22, 2025March 22, 2025 Constance0 comment

The Central Bank of Congo (BCC) reported on March 19, 2025, a 3.3% decline in the price of copper per tonne compared to December 2024. This drop is attributed to concerns over the Congolese government’s suspension of copper exports to the global market. Since February 22, 2025, the price of copper has continued to decrease, by a 0.15% drop compared to the previous week. The BCC noted that copper prices have fallen by 11.97% since the end of December 2024 and have seen a staggering 60% decline over the past… Read More Here

Mining in DRC Cobalt

MMG Suspends Cobalt Processing at Kinsevere Amid Price Slump

March 9, 2025March 9, 2025 Constance

Chinese state-controlled miner MMG Ltd has halted operations at its cobalt processing plant in the Democratic Republic of Congo (DRC) just 15 months after its launch, citing a sharp decline in cobalt prices. The company, 67% owned by China Minmetals Corp, suspended the facility at its Kinsevere mine in December 2024 due to unfavorable market conditions. This decision comes as the Congolese government imposed a four-month export ban on cobalt last week, aiming to curb oversupply and stabilize prices in the world’s leading cobalt-producing nation. MMG recently completed a $600… Read More Here

Mining in DRC Cobalt Copper Lithium

US and DRC in Talks Over Critical Minerals Deal

March 9, 2025March 9, 2025 Constance

The United States is engaging in exploratory discussions with the Democratic Republic of Congo (DRC) over a potential agreement that would grant the US access to the country’s critical minerals in exchange for military support. The DRC government reportedly initiated discussions two weeks ago, following an interview in which President Félix Tshisekedi stated that the Trump administration had expressed interest in the nation’s vast mineral resources. The DRC is the world’s largest producer of cobalt, a key component in electric vehicle batteries, accounting for over 70% of global production. The… Read More Here

Cobalt Economy Mining in DRC

Lualaba Civil Society Backs DRC’s Temporary Cobalt Export Ban to Stabilize Market

March 6, 2025March 6, 2025 Constance

Amid a sharp decline in cobalt prices, civil society organizations in Lualaba, in collaboration with the CASMIA-G ASBL platform, have assessed the government’s recent decision to temporarily suspend cobalt exports. This measure, enacted by the Regulatory and Control Authority for Strategic Mineral Substances Markets (ARECOMS), aims to curb oversupply and stabilize the market. Cobalt, classified as a strategic mineral under Article 7 bis of the Mining Code, is crucial to the Congolese economy. The majority of production comes from Lualaba and Haut-Katanga, sourced from both industrial mines and artisanal cooperatives.… Read More Here

Mining in DRC Cobalt Economy

Cobalt Prices Surge Following DRC’s Export Suspension

March 5, 2025March 5, 2025 Constance

On February 28, 2025, the price of cobalt oxide on the Shanghai Metals Exchange rose to €16,640 per tonne (excluding tax), marking a 1.46% increase over the past five days. This trend was also observed on the London Metal Exchange, where April 2026 cobalt oxide contracts jumped 5%, trading at $22,246.19 per tonne, up from the previous price of $21,153. This price increase follows the Democratic Republic of Congo’s (DRC) announcement on February 22 that it would suspend cobalt exports for four months, a move aimed at addressing the global… Read More Here