Cobalt - Copperbelt Katanga Mining

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

Mining in DRC Battery Metals Cobalt

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

February 28, 2025February 28, 2025 Constance

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

Mining in DRC Battery Metals Cobalt

DRC Weighs Cobalt Export Quotas to Stabilize Prices

February 26, 2025February 26, 2025 Constance

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

Mining in DRC Cobalt Economy

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

February 26, 2025February 26, 2025 Constance

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 Constance

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

Mining in DRC Cobalt Corporate News

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

February 23, 2025February 23, 2025 Constance

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

Mining in DRC Cobalt Copper Corporate News

Ivanhoe Mines Issues 2024 Fourth Quarter and Annual Financial Results

February 23, 2025February 23, 2025 Constance

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

Mining in DRC Cobalt Copper

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

February 21, 2025February 21, 2025 Constance

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