EGC and Gécamines Forge Exclusive Agreement for Cobalt Mining Rights 1 Mining in DRC Battery Metals Cobalt 

EGC and Gécamines Forge Exclusive Agreement for Cobalt Mining Rights

During the Mining Indaba event in Cape Town, South Africa, Entreprise Générale du Cobalt (EGC) and Gécamines announced an exclusive agreement granting mining rights for five squares to EGC. This deal empowers EGC to oversee artisanal cobalt mining fully. Established in 2019 as a Gécamines subsidiary, EGC monopolizes the purchase and sale of artisanal cobalt in the Democratic Republic of Congo. The recent agreement aims to normalize artisanal cobalt mining and promote local entrepreneurship, ensuring fair remuneration and better protections for workers. Gino Buhendwa Ntale, EGC’s Chairman, emphasized the importance… Read More Here
CMOC Group Eyes Copper and Cobalt Market Expansion in DRC and Beyond 2 Mining in DRC Cobalt Copper 

CMOC Group Eyes Copper and Cobalt Market Expansion in DRC and Beyond

Chinese mining firm CMOC Group is considering acquiring additional assets in the Democratic Republic of Congo (DRC) and sees growth opportunities in South America and Indonesia, according to Julie Liang, CMOC’s vice president for ESG. Speaking at the Africa Mining Indaba, Liang emphasized the company’s interest in expanding its presence in the DRC, particularly in copper and cobalt-rich regions, to capitalize on the growing demand for these metals driven by green technologies such as electric vehicles. CMOC has become the world’s leading cobalt mining company, with last year’s production reaching… Read More Here
President Tshisekedi Urges Regulation to Stabilize DRC's Cobalt Market 3 Mining in DRC Battery Metals Cobalt 

President Tshisekedi Urges Regulation to Stabilize DRC’s Cobalt Market

The unchecked artisanal exploitation of cobalt ore in the Democratic Republic of Congo (DRC) is contributing to its declining prices in international markets, according to President Félix Tshisekedi. During a recent Council of Ministers meeting on February 9, 2024, President Tshisekedi highlighted the decrease in cobalt prices, which have dropped from $31,000 to $28,727 per ton since the beginning of the fourth quarter of the previous year. In response to this trend, President Tshisekedi urged the Congolese Government to implement urgent measures to regulate the cobalt market effectively and increase… Read More Here
ZCCM-IH and Kobold Mingomba JV Unveils Zambia's Biggest Copper Find in a Century 4 Mining in Zambia Battery Metals Cobalt Copper Lithium New Mining Projects Nickel 

ZCCM-IH and Kobold Mingomba JV Unveils Zambia’s Biggest Copper Find in a Century

Yesterday, Joint venture partners ZCCM-IH and KoBold Metals, a Silicon Valley company using artificial intelligence to discover critical minerals for the electric vehicle and renewable energy revolutions, discussed the details of their recent copper discovery at the Mingomba deposit.“ZCCM-IH’s goal is to ensure that Zambia’s finite mineral resources are optimized and benefit the people of Zambia,” said ZCCM-IH Board Chair Mr. Kakenenwa Muyangwa. “ZCCM-IH is proud to be an active investor partnering with Kobold Metals in the Mingomba Deposit, which is well-positioned to help create new jobs, bring significant new… Read More Here
Rio Tinto Strengthens Mining Ties with Angola through Second Investment Contract 5 International Cobalt Copper Exploration 

Rio Tinto Strengthens Mining Ties with Angola through Second Investment Contract

On January 17, 2024, Rio Tinto, the prominent English-Australian mining company, formalized a significant mining investment contract with the Angolan Ministry of Mineral Resources, Oil, and Gas in Luanda. The lucrative $5.7 million USD deal encompasses a 35-year exploratory license for the Moxico Concession, spanning an extensive 9,987 square kilometers (3,856 square miles). Rio Tinto’s exploration efforts will focus on uncovering base metals, including copper, zinc, cobalt, and titanium, according to the company’s official statement. The contractual agreement initiates a dedicated five-year prospecting phase, with the potential for a two-year… Read More Here
DRC and China Discuss $7 Billion Financing for Mineral-Infrastructure Deal 6 Mining in DRC Cobalt Copper Economy 

DRC and China Discuss $7 Billion Financing for Mineral-Infrastructure Deal

President Felix Tshisekedi announced during his second inaugural address in Kinshasa that China and the Democratic Republic of Congo are in discussions for $7 billion in financing as part of a renegotiated minerals-for-infrastructure deal. Tshisekedi has been advocating for the restructuring of a 2008 $6.2 billion contract, arguing that the original deal, centered around the Sicomines copper and cobalt mine, has provided minimal benefit to Congo. While the mine has been operational for years, Congo’s government reports that less than a third of the promised $3 billion in development funds… Read More Here
Mehdi Wetterwald Exits Trafigura's Metals Unit Amid Transformations 7 Battery Metals Cobalt International Lithium Mining Personality 

Mehdi Wetterwald Exits Trafigura’s Metals Unit Amid Transformations

Mehdi Wetterwald, previously co-head of battery metals at Trafigura Group, is leaving the trading house, marking the latest in a series of senior departures from its metals unit. Wetterwald, who had been with Trafigura since 2012, was appointed as co-head of global nickel, cobalt, and lithium trading alongside Daniel von Arx last February. Following a significant alleged nickel fraud against the company, von Arx later assumed sole leadership of the division. Sources familiar with the matter, speaking on condition of anonymity, indicated that Wetterwald is departing for personal reasons. His… Read More Here
Northvolt Eyes Sustainable Cobalt Sourcing from DRC 8 Mining in DRC Battery Metals Cobalt 

Northvolt Eyes Sustainable Cobalt Sourcing from DRC

Swedish battery manufacturer Northvolt announced its intention to explore sourcing cobalt, a crucial component in electric vehicle (EV) battery production, from the Democratic Republic of Congo (DRC). The company has conducted trials, studied work processes, and compared plans to enhance both social and environmental sustainability, seeking long-term partnerships. Chief Environmental Officer Emma Nehrenheim expressed confidence in engaging with sourcing agreements within the year during a Reuters phone interview, though no specific timeframe was provided. Stakeholders’ requests prompted Northvolt to directly engage with miners and other parties to improve working conditions… Read More Here
The Lobito Corridor Project's Strategic Impact on Sustainability and Global Influence 9 Mining in Zambia Battery Metals Cobalt Mining in DRC Transport and Logistics 

The Lobito Corridor Project’s Strategic Impact on Sustainability and Global Influence

In the ever-evolving landscape of electric vehicles (EVs), a new challenge is emerging that extends beyond charging station accessibility: the availability of a critical mineral – cobalt. This heavy metal, predominantly sourced from central Africa, plays a pivotal role in EV batteries, and its scarcity poses a potential hindrance to the widespread adoption of EVs in the United States. To address this concern and bolster the global supply of cobalt and other essential minerals, the United States is investing significantly in a groundbreaking infrastructure initiative in Africa. The Lobito Corridor… Read More Here
DRC's Abundant Mineral Wealth Takes Center Stage at Future Minerals Forum 2024 10 Mining in DRC Cobalt Copper Diamond 

DRC’s Abundant Mineral Wealth Takes Center Stage at Future Minerals Forum 2024

The Democratic Republic of Congo was highlighted at the Future Minerals Forum 2024 conference, which took place in Riyadh, Saudi Arabia. Dieudonné-Louis Tambwe, an expert in mining issues and the coordinator of the Technical Coordination and Mining Planning Unit (CTCPM), presented numerous investment opportunities in the DRC’s mining sector during the session dedicated to the country. In his speech, Dieudonné-Louis Tambwe highlighted the different metallogenic provinces and blocks of the DRC, as well as their characteristic minerals. In total, he mentioned eight blocks, each with specific mineral resources. These included… Read More Here

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