Cobalt - Copperbelt Katanga Mining

DRC Gold Prices Surge: One Gram Now Valued at $62.19 USD This Week

September 8, 2023September 8, 2023 Constance

After copper and cobalt, the Democratic Republic of Congo also wants to focus on gold ore to increase its public revenue. On the international markets, gold should experience a significant price increase during this week, inform the projections of the National Commission of Mercurial Prices of the Ministry of Foreign Trade of the Democratic Republic of Congo (DRC). A gram of gold is expected to trade at USD 62.19 this week compared to USD 61.31 per gram last week. From one week to one, this ore should record an increase… Read More Here

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UK Drops Corruption Charges Against Eurasian Natural Resources Corp in DRC Mining Case

September 8, 2023September 8, 2023 Constance

In 2013, the United Kingdom initiated a corruption investigation into a subsidiary of Eurasian Resources Group operating in the Democratic Republic of Congo (DRC). The company in question, Eurasian Natural Resources Corporation (ENRC), was accused of offering bribes to secure mining contracts in the DRC. This is according to an update published on August 24, 2023. and the UK’s Serious Fraud Office has officially concluded its decade-long investigation into ENRC, which is now under the ownership of Eurasian Resources Group. According to the Serious Fraud Office’s recent announcement, the agency… Read More Here

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Trafigura-Led Lobito Rail Upgrade Awaits Its First Users

September 5, 2023September 5, 2023 Constance

African metal producers are reluctant to make long-term commitments to use a railway a Trafigura-led consortium plans to upgrade, four sources with knowledge of the matter said. Known as Lobito Atlantic Railway, the consortium pitched the overhaul of the line, historically known as the Benguela Railway, that links resource-rich Democratic Republic of Congo (DRC) to the port of Lobito in Angola to bypass road congestion and avoid long delays on the copper and cobalt route. So far only Ivanhoe Mines is known to have signed a non-binding agreement to use the Lobito railway… Read More Here

Mining in DRC Battery Metals Cobalt

International Markets Witness Growing Demand for Cobalt, the ‘Energy Transmission Ore’

September 3, 2023September 3, 2023 Constance

According to data from the economic situation note of the Central Bank of Congo (BCC) of August 25, 2023, 99.8% cathode cobalt increased from USD 32,730.00 per tonne to USD 35,717.44 per tonne. ton, from one week to the next. Which represents an increase of almost 3,000 USD. “The price of cobalt remained stable around USD 32,985.00 per tonne from one week to the next. On the other hand, on the London market, the price of cobalt (99.8% cathode) increased by 9.13%, from 32,730.00 USD to 35,717.44 USD per tonne from one… Read More Here

Copper Cobalt Mining in DRC

The Significance of Copper and Cobalt

September 3, 2023September 3, 2023 Constance

Copper and cobalt, two metals with a rich history in the traditional metal industry, have found a new and vital role in the modern world. Beyond their conventional uses, these metals have become crucial components in the production of rechargeable batteries, which are the lifeblood of the electric vehicle (EV) and portable device industries. This shift has thrust the Democratic Republic of Congo (DRC) into the spotlight, as it contributes significantly to the global supply of both copper and cobalt. In this article, we look at the significance of copper… Read More Here

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Tin Prices to Hit USD 25,430.00 per Tonne in DRC This Week

August 30, 2023August 30, 2023 Constance

The general trend of mining products exported from the Democratic Republic of Congo (DRC) is downward during the period from August 28 to September 2, 2023 on international markets. According to experts from the National Mercurial Commission of the Ministry of Foreign Trade, only copper and silver should experience a slight price increase respectively to 8,269.60 USD against 8,232.45 USD per tonne a week earlier, i.e. a positive price difference of around 37.15 USD for copper and 0.75 USD against 0.74 USD per gram for silver ore. In addition, tin… Read More Here

Mining in DRC Battery Metals Cobalt Economy

Félix Tshisekedi Encourages better marketing of Cobalt ore

August 30, 2023August 30, 2023 Constance

Designated a crucial mineral propelling the shift toward sustainable energy, cobalt is witnessing a surge in demand across global industrial sectors. Despite this escalating demand, the Democratic Republic of Congo (DRC), responsible for producing 70% of the world’s cobalt, reaps a meager share of revenue from its raw cobalt exports. In the recent weekly assembly of the Council of Ministers convened on Friday, August 25, 2023, President Félix Tshisekedi of the Republic emphasized the urgency of introducing comprehensive measures to meticulously regulate cobalt marketing and amplify the income generated through… Read More Here

Mining in DRC Cobalt Gold Mining Policy

DRC MP Alfred Maisha Raises Concerns Over Primera Gold Deal

August 25, 2023August 25, 2023 Constance

The exorbitant advantages granted by the Democratic Republic of Congo’s government to “Primera,” a United Arab Emirates mining company, continue to stir reactions within the Congolese socio-political sphere nearly a year after the agreement’s signing. In response, National Deputy Alfred Maisha has submitted a written inquiry to the National Assembly, addressing three government members: Adèle Kayinda, Minister of State for the Portfolio; Antoinette N’Samba, Minister of Mines; and Nicolas Kazadi, Minister of Finance. Maisha, representing Bukavu, finds the advantages and monopoly granted to Primera unacceptable, as they undermine Congolese companies’… Read More Here

Mining in DRC Cobalt

DRC’s Wealth of Mineral Resources Garners Worldwide Attention

August 25, 2023August 25, 2023 Constance

As the African continent gains prominence as a vital source of raw materials for the world, the Democratic Republic of the Congo (DRC) emerges as a key player in this evolving landscape. Despite its current status as one of the world’s poorest nations, the DRC holds substantial economic promise, with its rich resource base and strategic significance. Spanning as the second largest African nation, the DRC boasts abundant natural resources, including oil, coal, diamonds, cobalt, zinc, silver, and rare metals like tungsten. Impressively, the republic commands a 70% share in… Read More Here

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Trafigura metal executive Grenfell exits as unit pressure grows

August 25, 2023August 25, 2023 Constance

Trafigura Group’s head of metals business development is leaving, the latest sign of the pressure facing the commodity trader’s metals unit even as the company as a whole notches up record profits. Simon Grenfell is leaving Trafigura after just over three and a half years in the role, according to his LinkedIn profile. The company has appointed Matthew Hadfield as its new global head of business development for metals, said a person familiar with the matter, who asked not to be identified as the information is private. Trafigura’s metals business,… Read More Here