Cobalt - Copperbelt Katanga Mining

Eurasian Resources Group and Thara Partner to Explore Cobalt Sulphate Refinery in Saudi Arabia 1

Eurasian Resources Group (ERG), a diversified mining company, is actively pursuing the establishment of a refinery dedicated to processing cobalt hydroxide into cobalt sulphates – a key component in electric vehicle (EV) batteries. The move aims to bolster ERG’s position as a strategic supplier to the chemicals sector, particularly in the EV battery industry. ERG has identified Saudi Arabia as a potential location for the refinery and is collaborating with the investment platform Thara to explore and pursue this investment opportunity. Thara, focusing on unlocking Saudi Arabia’s Vision 2030 opportunities,… Read More Here

Mining in DRC Battery Metals Cobalt

DRC: CMOC dethrones Glencore as the world’s leading cobalt producer

January 11, 2024January 11, 2024 Constance

At a time of energy transition, there is a real rush towards the mining sector of the Democratic Republic of Congo, whose contribution to the national economy is no less. However, in this copper-cobalt El Dorado, two giants of the sector, namely the Chinese CMOC and the Swiss Glencore, are waging a merciless battle, centered on competitiveness. Thanks to its Kisanfu copper-cobalt mine based in the Democratic Republic of Congo in the Haut-Katanga province, with a capacity of 30,009 tonnes, inaugurated in 2023, the giantChinese group CMOC thus becomes the… Read More Here

Mining in DRC Battery Metals Cobalt Copper

price of cobalt falls to 28,579 USD per tonne at the end of December 2023 in DRC

December 28, 2023December 28, 2023 Constance

Despite its essential role in the automobile industry, particularly in the manufacture of electric batteries, the price of cobalt has continued to plummet on international markets for almost a year.During the week from December 25 to 30, 2023, the price of cobalt is expected to fall by 8.70% or USD 28,579 per tonne this week compared to USD 31,302 per tonne a week previously. Apart from cobalt, tantalum is also expected to see a slight drop in price this week to USD 212.40 from USD 213.00, a drop of 0.28%… Read More Here

Battery Metals Cobalt Copper Lithium

Top 5 Investments Made in Africa’s Critical Minerals in 2023

December 27, 2023December 27, 2023 Constance

The surge in global interest in critical minerals, essential for sustainable energy technologies and electric vehicles, has unleashed a wave of investments across Africa, home to 30% of the world’s mineral reserves. This year witnessed an influx of deals, cooperative agreements, and strategic investments aimed at fortifying the continent’s role in the global critical mineral supply chain. Here are the top five transformative investments that reshaped Africa’s critical mineral landscape in 2023. 1.Japan and UK Forge Joint Investments in African Critical Minerals Announced in September, Japan and the UK unveiled… Read More Here

Mining in DRC Battery Metals Cobalt

China increases cobalt production in DRC

December 10, 2023December 10, 2023 Constance

Chinese mining firms have significantly boosted cobalt production in the Democratic Republic of the Congo (DRC) in a bid to expand their market share, intensifying the strain on a commodity facing a sharp price decline. Cobalt, a crucial component in electric vehicle (EV) batteries, is often combined with nickel to enhance the energy density of lithium-ion batteries. Yet, to address environmental and geopolitical concerns, some EV manufacturers like Tesla Inc. (NASDAQ:TSLA) have shifted from Nickel Manganese Cobalt (NMC) batteries to Lithium Iron Phosphate (LFP) batteries, minimizing their reliance on cobalt.… Read More Here

Mining in DRC Cobalt Copper

Gecamines Pursues Enhanced Stake in DRC’s Mineral Trade

December 4, 2023December 4, 2023 Constance

Congo’s state mining group, Gecamines, is striving to secure rights to purchase copper and cobalt from mines it holds stakes in. This move is part of its strategy to build up its own reserves and engage in the trading of these crucial metals. To achieve this goal, Gecamines seeks to revise certain terms within its joint venture agreements in the Democratic Republic of Congo (DRC), known as the world’s primary supplier of battery-grade cobalt and the third-largest producer of copper after Peru and Chile. According to Guy Robert Lukama, Gecamines’… Read More Here

Mining in DRC Cobalt Copper Economy

DRC’s Cobalt Prices Plunge Despite Global Supply Dominance

December 1, 2023December 1, 2023 Constance

The Democratic Republic of Congo (DRC), renowned for supplying 70% of the world’s cobalt, confronts a significant downturn in cobalt prices. Finance Minister Nicolas Kazadi highlighted the staggering drop in cobalt prices from $81,000 to $31,000 per tonne within a year, expressing deep concerns about this drastic plunge. As of November 23, 2023, copper prices surged by 2.27% to $8,306.35 per tonne. In contrast, cobalt prices experienced a slight 0.03% decline, reaching $32,737.31 per tonne, according to the Central Bank of Congo (BCC). Minister Kazadi stressed the challenge the DRC… Read More Here

Mining in DRC Battery Metals Cobalt

Glencore’s Mutanda Mine Faces Cobalt Output Decline Due to Ore Depletion

November 30, 2023November 30, 2023 Constance

Glencore’s Mutanda mine in Congo is confronting a significant reduction in cobalt production, projected to be up to 15% less per year, according to sources familiar with the situation. The decline in cobalt output at Mutanda is attributed to diminishing surface oxide ore deposits. To tackle this challenge, Glencore is exploring the necessity of investing in the extraction and processing of sulphide ores located deeper underground, as indicated by the sources. The London-based mining company is currently engaged in a comprehensive feasibility study aimed at evaluating the required investment and… Read More Here

Mining in DRC Cobalt Copper Economy

2022 Sees Dramatic Surge in DRC Exports Fueled by Mining and Hydrocarbons

November 27, 2023November 27, 2023 Constance

In 2022, Congo witnessed a substantial surge in exports, marking a notable 29.3% increase, primarily fueled by the external sales of mining and hydrocarbon products. According to the Central Bank of Congo’s 2022 Monetary Policy report, exports soared to $28.68 billion, surpassing imports totaling around $26.70 billion. Mining and hydrocarbon exports dominated the landscape, accounting for a staggering 99.4% of the total exports. This surge was largely attributed to the significant uptick in copper and cobalt export volumes, recording respective increases of 40.1% and 23.9%. These increases were propelled by… Read More Here

Mining in DRC Cobalt

Chinese-Owned Mining Companies in DRC Deny Allegations of Child Labor and Market Monopoly

November 26, 2023November 26, 2023 Constance

In response to allegations of employing minors and monopolizing the cobalt market in the Democratic Republic of Congo (DRC), mining companies backed by Chinese capital have vehemently denied these claims. The rebuttal was outlined in a formal statement received by Deskeco on Friday, November 24, countering assertions made during the American Congress’s Executive Commission on China held on November 14. The Union of Mining Companies with Chinese Capital operating in the DRC expressed firm opposition to the accusations, asserting that such claims are unfounded and do not accurately represent the… Read More Here