Cobalt - Copperbelt Katanga Mining

DRC Prioritizes Cobalt Governance and Value Addition in Talks with IMF

May 10, 2025May 10, 2025 Constance

The Democratic Republic of Congo (DRC) is intensifying efforts to assert greater control over its cobalt sector—one of the world’s most strategic mineral resources—following a high-level meeting held on May 8, 2025, between the Minister of Mines, Kizito Pakabomba Kapinga Mulume, and a delegation from the International Monetary Fund (IMF) led by Calixte Ahokpossi. The meeting was part of the IMF’s first review of the DRC’s Economic Program, backed by the Extended Credit Facility (ECF). Key representatives from ARECOMS and the Technical and Coordination Unit of Mining Projects (CTCPM) also… Read More Here

Mining in DRC Battery Metals Cobalt Lithium Uranium

Belgium Signals Stronger Role in DRC’s Critical Minerals Sector

April 30, 2025April 30, 2025 Constance

Belgium is ready to deepen its involvement in the Democratic Republic of Congo’s (DRC) critical minerals sector, according to Belgian Foreign Minister Maxime Prévot, who is currently visiting the Central African country as it seeks to diversify its investment partnerships. The DRC holds some of the world’s largest reserves of copper, cobalt, lithium, and uranium. However, persistent instability and insecurity—particularly in the east—have long hindered the scale of foreign investment required to fully develop the sector’s potential. Amid growing interest from global powers, Kinshasa is actively looking to attract new… Read More Here

Mining in DRC Cobalt Copper

Gates- & Bezos-Backed KoBold Expands in DRC to Challenge China’s Grip on Critical Minerals

April 28, 2025April 28, 2025 Constance

A U.S. mining company backed by billionaires Bill Gates and Jeff Bezos is expanding its operations in the Democratic Republic of Congo (DRC), aiming to secure rare minerals essential for the global energy transition and counter China’s dominance in the sector. KoBold Metals, the Berkeley-based company supported by Gates’s Breakthrough Energy Ventures—whose investors also include Jeff Bezos and former New York Mayor Michael Bloomberg—plans to leverage artificial intelligence to discover new mineral deposits in the DRC’s resource-rich basins. Newly appointed Director-General Benjamin Katabuka announced the company’s ambitions as it deepens… Read More Here

Mining in DRC Cobalt Copper Tin

Gold and Copper Prices Rose as Cobalt and Tin Weakened in DRC Export Market

April 27, 2025April 27, 2025 Constance

The Democratic Republic of Congo’s Ministry of Foreign Trade released updated export price lists for the week of April 21, 2025, showing a mixed performance across key mining commodities. Gold and copper recorded gains after a previous week of overall declines. Gold was priced at $103.32 per gram, up from $99.34, while copper increased to $9,108.55 per tonne from $8,869.35. The previous week, both commodities had fallen, with gold slipping from $99.84 to $99.34 per gram and copper declining from $9,710.30 to $8,869.35 per tonne—a decrease of around 1%. Meanwhile,… Read More Here

Mining in DRC Battery Metals Cobalt

CMOC Increases Cobalt Output Despite DRC Export Ban

April 12, 2025April 12, 2025 Constance

CMOC Group significantly increased cobalt production at its operations in the Democratic Republic of Congo during the first quarter of 2025, even as local authorities enforced a temporary export ban on the battery metal. According to the company’s latest statement, cobalt output rose by 20.7% to 30,414 metric tons in the three months ending March. Copper production also climbed 15.7%, reaching approximately 171,000 metric tons. In February, the DRC — the world’s largest supplier of cobalt — imposed a four-month ban on cobalt exports, aiming to curb market oversupply and… Read More Here

Mining in DRC Cobalt Copper

China Molybdenum’s DRC Operations Drive Record Growth and Strategic Dominance

April 6, 2025April 6, 2025 Constance

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 Constance

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 Constance

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 Constance

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 Constance

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