Cobalt - Copperbelt Katanga Mining

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

Mining in DRC Cobalt Copper Corporate News

Glencore Rejects Unsolicited Bid for DRC Operations

February 17, 2025February 17, 2025 Constance

Miner and commodity trader Glencore has confirmed that it rejected an unsolicited offer for its operations in the Democratic Republic of Congo (DRC) at the end of last year. “Glencore has not engaged any banks or advisors and is not running a sale process for its operations in the DRC,” a company spokesperson stated in an email. Earlier, the Financial Times reported that Glencore had considered selling part or all of its Congolese assets and had engaged in preliminary discussions with a potential buyer from the Middle East regarding its… Read More Here

Mining in DRC Cobalt

Middlemen Divert Billions from DRC’s Cobalt and Coltan Trade

February 15, 2025February 15, 2025 Constance

The Democratic Republic of Congo (DRC), the world’s leading producer of cobalt, loses nearly $1 billion annually to illegal trade, fueling conflict and deepening poverty, according to political analyst Oluwole Ojewale of the Institute for Security Studies. The DRC supplies 70% of the world’s cobalt, essential for electric vehicle batteries and renewable energy projects. However, most of its production comes from 150,000 to 200,000 artisanal miners, with over a million people depending on their work. Operating in North and South Kivu, these miners extract minerals under harsh conditions, while middlemen… Read More Here

Mining in DRC Artisanal mining Cobalt

557 Children Freed from Cobalt Mines in Haut-Katanga Reintegrated into Society

February 2, 2025February 2, 2025 Constance

A total of 557 children previously working in the cobalt mines at the Pumpe quarry in Kambove, Haut-Katanga province, have been successfully reintegrated into society. Joseph N’sambi Bulanda, the provincial Minister of Health and president of the monitoring committee for the PABEA cobalt project in Haut-Katanga, shared that non-formal education is also being integrated into this initiative. “We are collaborating with the village chief to make this happen,” he stated during his visit to the reintegration center in Kyembe village. The children have been placed at the Mwera 1 Institute,… Read More Here

Mining in Zambia Cobalt Economy

Stanbic Bank Zambia Champions Collaborative Energy Solutions to Boost Mining Sector Productivity

February 1, 2025February 1, 2025 Constance

Stanbic Bank Zambia has emphasized the critical role of collaboration in boosting mining productivity as demand for essential minerals such as copper, cobalt, lithium, and nickel continues to rise. The bank believes that further electricity import deals can help address Zambia’s power deficit, ensuring the stability of the mining sector, which consumes over 50% of the country’s generated electricity. Speaking in Lusaka, Helen Lubamba, Head of Corporate and Investment Banking (CIB) at Stanbic, highlighted the benefits of increasing electricity imports for the mining industry, which would contribute to Zambia’s overall… Read More Here

Mining in DRC Cobalt

Cobalt Oversupply Challenges Market Despite Long-Term Growth Potential

January 31, 2025January 31, 2025 Constance

The cobalt market is grappling with a significant oversupply, driven by unprecedented production levels, as demand for electric vehicle (EV) batteries grows more slowly than anticipated. While the market faces short-term challenges, the long-term outlook for cobalt remains closely tied to advances in battery technology and the global transition to renewable energy. Cobalt prices have dropped to their lowest levels since 2016, largely due to an oversupplied market and weak demand growth. As the global supply chain struggles with excess inventory, prices have seen a dramatic decline, underscoring the difficulties… Read More Here

Cobalt Corporate News

CMOC Targets Sustained Cobalt Output in 2025 Amid Market Pressure

January 25, 2025January 25, 2025 Constance

The world’s largest cobalt producer, China’s CMOC Group, is aiming to maintain record-high cobalt production levels in 2025 following a rapid ramp-up at its African mining operations. The company has set a production target of 100,000 to 120,000 tons of cobalt for 2025, after achieving an impressive 114,165 tons in 2024, according to a statement on its WeChat account. Elevated production levels could add further pressure to cobalt prices, which are already at their lowest since 2016. CMOC exceeded its full-year 2024 production guidance within the first nine months, causing… Read More Here

International Battery Metals Cobalt

Chile Launches $3-$4 Million Initiative to Extract Cobalt and Rare Earths from Mining Waste

January 22, 2025January 22, 2025 Constance

SANTIAGO – Chile’s development agency, Corfo, has launched a call for studies focused on extracting cobalt and rare earths from mining waste, offering $3 million to $4 million per project for a three-year period. This initiative is part of Chile’s strategy to tap into its nearly 800 tailings deposits across the country. Mining companies are increasingly looking for ways to extract valuable metals from these waste deposits, especially as global demand for metals like cobalt and copper surges with the energy transition. “These are strategic minerals, particularly cobalt and rare… Read More Here

Cobalt Copper Mining in DRC

USA Invests $2 Million to Promote Responsible Artisanal Mining in DRC

January 20, 2025January 20, 2025 Constance

The United States has announced a $2 million investment aimed at supporting responsible artisanal copper and cobalt mining in the Democratic Republic of Congo (DRC). The U.S. government’s initiative, detailed in a press release by the United States Agency for International Development (USAID) on January 16, seeks to promote ethical mining practices of these essential metals, which play a crucial role in the global energy transition. The U.S. commitment aligns with the Congolese government’s efforts to reform the artisanal mining sector. USAID funding will support the state-owned company EGC in… Read More Here