Cobalt Market Forecasts 37,000-Tonne Surplus Amid Slowing Demand in 2024 1 Mining in DRC Cobalt Economy 

Cobalt Market Forecasts 37,000-Tonne Surplus Amid Slowing Demand in 2024

The global cobalt market is projected to experience a notable surplus in 2024, with the Cobalt Institute forecasting a surplus of 37,000 tonnes. This outlook aligns with recent statements from CMOC, the world’s largest cobalt producer, which noted a slowing rate of supply growth in the latter half of the year. Key contributors to this surplus are increased production from the Kisanfu mine in the Democratic Republic of Congo (DRC), set to add an additional 23,000 tonnes over 2023 levels, and a 14,000-tonne increase from the Tenke Fungurume mine, also… Read More Here
Cobalt International Battery Metals Cobalt Lithium 

African Nations Called to Invest in Beneficiation of Critical Minerals for Industrial Growth

Africa has the potential to be a key player in the global energy transition due to its rich reserves of critical minerals like lithium and cobalt. However, maximizing this potential requires a robust strategy for building manufacturing capacity, scaling up production, and increasing exports. This perspective was shared during a panel discussion at the recent Manufacturing Indaba, highlighting how resource extraction and industrialisation offer African nations opportunities to advance along the value chain, create high-skilled jobs, and drive technological innovation. “We need to explore ways to deepen those value chains,… Read More Here
DRC Solidifies Position as Leading Global Producer of Cobalt and Copper from 2018 to 2022 2 Copper Cobalt Mining in DRC 

DRC Solidifies Position as Leading Global Producer of Cobalt and Copper from 2018 to 2022

Between 2018 and 2022, the Democratic Republic of Congo (DRC) solidified its status as the world’s largest producer of cobalt and the second-largest producer of copper. According to the International Monetary Fund (IMF), the DRC generated an average of $5.5 billion annually in mining revenues during this period, a notable increase from $4 billion between 2013 and 2017. This surge in revenue is further supported by analyses from various media outlets, including Bankable, a subsidiary of the Ecofin Agency, highlighting the DRC’s strategic significance in supplying critical raw materials. As… Read More Here
Falling Cobalt Prices Force DRC Artisanal Miners to Shift to Less Profitable Copper 3 Mining in DRC Cobalt Copper 

Falling Cobalt Prices Force DRC Artisanal Miners to Shift to Less Profitable Copper

Cobalt prices have plummeted over the last three years, dropping by two-thirds—a severe blow for the Democratic Republic of Congo (DRC), the world’s leading cobalt producer with the largest global reserves. This price slump has forced many artisanal miners to abandon cobalt mining, with some turning to copper despite its limited profitability. In Kolwezi’s Kamilombe artisanal mine, under a corrugated shed, 39-year-old miner Guelord Kongolo prepares raw cobalt for sale. “The activity here has slowed down; it’s not like it used to be,” says Kongolo, who supports four children. Faced… Read More Here
DRC Criticizes US Department of Labor for Including Congolese Cobalt on Forced Labor List 4 Mining in DRC Cobalt 

DRC Criticizes US Department of Labor for Including Congolese Cobalt on Forced Labor List

The Democratic Republic of Congo (DRC) has expressed strong disapproval of the United States Department of Labor’s decision to include Congolese cobalt in its 2024 list of goods produced by child or forced labor. On October 1, the DRC government issued a statement describing the decision as “unjustified,” arguing that it overlooks significant reforms in the regulation of both artisanal and industrial mining in the country. “The decision fails to acknowledge the substantial efforts and progress made in regulating artisanal and industrial mining. It undermines international systems designed to ensure… Read More Here
Cobalt Institute Hosts Roundtable in Kinshasa to Address Concerns Over Child Labor in Congolese Cobalt Production 5 Mining in DRC Cobalt 

Cobalt Institute Hosts Roundtable in Kinshasa to Address Concerns Over Child Labor in Congolese Cobalt Production

The Cobalt Institute, a global trade association representing the entire cobalt industry and value chain, held a roundtable discussion on Thursday, October 17, in Kinshasa. The focus was on the potential inclusion of Congolese cobalt in the U.S. Department of Labor’s 2024 list of goods produced by child or forced labor. Deputy Minister of Mines, Godard Motemona, actively participated in the roundtable, which brought together various stakeholders from both the public and private mining sectors. Notably, Chanda Uluca, the Division Chief for the African Zone of the U.S. Department of… Read More Here
Cobalt Mining in Kolwezi Poses Serious Risks to Women's Reproductive Health 6 Mining in DRC Cobalt 

Cobalt Mining in Kolwezi Poses Serious Risks to Women’s Reproductive Health

An investigation by La Guardia Magazine highlights the severe health consequences of intensive cobalt mining in Kolwezi, DRC, particularly on women’s reproductive health. From 2018 to 2023, cobalt production surged by 63%, increasing from 104,000 tons to 170,000 tons due to rising global demand for this essential mineral for energy transition. However, this accelerated exploitation poses significant environmental and health risks, especially in the Musonoï district. Located less than two kilometers from Kolwezi’s center, Musonoï overlooks an open-pit mine operated by Compagnie minière de Musonoï (COMMUS), a subsidiary of the… Read More Here
DRC's Minister of Mines Commits to Eradicating Child Labor in Cobalt Mining 7 Mining in DRC Artisanal mining Cobalt 

DRC’s Minister of Mines Commits to Eradicating Child Labor in Cobalt Mining

In a press release dated October 14, 2024, the Ministry of Mines of the Democratic Republic of Congo expressed its “astonishment” at the inclusion of Congolese cobalt on the list of products potentially associated with child labor, as reported by the United States Department of Labor. This statement follows a previous reaction from the government through the Ministry of Communication and Media. The ministry pointed out that while this decision highlights ongoing challenges in certain regions related to artisanal cobalt mining—representing only 5% of the country’s national production—it fails to… Read More Here
Gecamines Bids for Chemaf Resources Amid Ongoing Controversy Over Chinese Sale 8 Mining in DRC Cobalt Copper 

Gecamines Bids for Chemaf Resources Amid Ongoing Controversy Over Chinese Sale

The Democratic Republic of Congo’s state-owned miner, Gecamines, has submitted a bid for Chemaf Resources Ltd.’s unit in the country. This move comes months after Gecamines announced its intention to block a previous deal that would sell the copper and cobalt miner to a Chinese investor. Chemaf, which is backed by Trafigura Group, spent nine months searching for a buyer before announcing a sale to China’s Norin Mining Ltd. in June. Although Chemaf is still working to finalize that deal, it has faced opposition from the government and Gecamines, which… Read More Here
Metalkol Enters Copper Mark for Sustainable Production in the DRC 9 Mining in DRC Cobalt Copper Corporate News 

Metalkol Enters Copper Mark for Sustainable Production in the DRC

Eurasian Resources Group’s (ERG) Metalkol operation in the Democratic Republic of Congo (DRC) has officially entered the Copper Mark assurance process, following a letter of commitment signed on September 12. The Copper Mark, an assurance framework launched in 2020, is aimed at promoting responsible mineral sourcing and production across the copper, nickel, molybdenum, and zinc value chains. The assurance process is voluntary, transparent, and independent, involving third-party assessments by approved assessors. These evaluations will verify whether Metalkol meets the stringent requirements for responsible production practices. By participating in this process,… Read More Here

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