Cobalt - Copperbelt Katanga Mining

Gecamines Proposes Acquisition of ERG’s DRC Assets

February 16, 2024February 16, 2024 Constance

Gecamines, the state miner of Congo, has made a concrete offer to acquire select copper and cobalt assets from Eurasian Resources Group (ERG) in the country. This move aims to regain control over projects previously owned by partners and bolster reserves in metals crucial for the green transition. According to Robert Lukama, Chairman of Gecamines, the mining unit is targeting three of ERG’s assets in Congo and has the necessary funding to support the purchase. While the specific projects or mines were not disclosed, ERG’s assets in the region include… Read More Here

Battery Metals Cobalt Mining in DRC Mining in Zambia

Africa Nears Milestone with First Cobalt Sulphate Refinery

February 16, 2024February 16, 2024 Constance

Africa is on the brink of achieving a significant milestone with plans for its inaugural cobalt sulphate refinery, poised to be operational by the end of 2025. This development, spearheaded by Nigeria-based Africa Finance Corp. (AFC) and backed by mining luminary Mick Davis’ Vision Blue, marks a crucial step in diversifying the global battery supply chain beyond China, a dominant player in cobalt refining. Last week, AFC signed an expression of interest to provide $100 million in financing to Kobaloni Energy for the construction of the refinery in Zambia. According… Read More Here

Mining in DRC Battery Metals Cobalt

EGC and Gécamines Forge Exclusive Agreement for Cobalt Mining Rights

February 16, 2024February 16, 2024 Constance

During the Mining Indaba event in Cape Town, South Africa, Entreprise Générale du Cobalt (EGC) and Gécamines announced an exclusive agreement granting mining rights for five squares to EGC. This deal empowers EGC to oversee artisanal cobalt mining fully. Established in 2019 as a Gécamines subsidiary, EGC monopolizes the purchase and sale of artisanal cobalt in the Democratic Republic of Congo. The recent agreement aims to normalize artisanal cobalt mining and promote local entrepreneurship, ensuring fair remuneration and better protections for workers. Gino Buhendwa Ntale, EGC’s Chairman, emphasized the importance… Read More Here

Mining in DRC Cobalt Copper

CMOC Group Eyes Copper and Cobalt Market Expansion in DRC and Beyond

February 12, 2024February 12, 2024 Constance

Chinese mining firm CMOC Group is considering acquiring additional assets in the Democratic Republic of Congo (DRC) and sees growth opportunities in South America and Indonesia, according to Julie Liang, CMOC’s vice president for ESG. Speaking at the Africa Mining Indaba, Liang emphasized the company’s interest in expanding its presence in the DRC, particularly in copper and cobalt-rich regions, to capitalize on the growing demand for these metals driven by green technologies such as electric vehicles. CMOC has become the world’s leading cobalt mining company, with last year’s production reaching… Read More Here

Mining in DRC Battery Metals Cobalt

President Tshisekedi Urges Regulation to Stabilize DRC’s Cobalt Market

February 12, 2024February 12, 2024 Constance

The unchecked artisanal exploitation of cobalt ore in the Democratic Republic of Congo (DRC) is contributing to its declining prices in international markets, according to President Félix Tshisekedi. During a recent Council of Ministers meeting on February 9, 2024, President Tshisekedi highlighted the decrease in cobalt prices, which have dropped from $31,000 to $28,727 per ton since the beginning of the fourth quarter of the previous year. In response to this trend, President Tshisekedi urged the Congolese Government to implement urgent measures to regulate the cobalt market effectively and increase… Read More Here

Mining in Zambia Battery Metals Cobalt Copper Lithium New Mining Projects Nickel

ZCCM-IH and Kobold Mingomba JV Unveils Zambia’s Biggest Copper Find in a Century

February 6, 2024February 6, 2024 Constance

Yesterday, Joint venture partners ZCCM-IH and KoBold Metals, a Silicon Valley company using artificial intelligence to discover critical minerals for the electric vehicle and renewable energy revolutions, discussed the details of their recent copper discovery at the Mingomba deposit.“ZCCM-IH’s goal is to ensure that Zambia’s finite mineral resources are optimized and benefit the people of Zambia,” said ZCCM-IH Board Chair Mr. Kakenenwa Muyangwa. “ZCCM-IH is proud to be an active investor partnering with Kobold Metals in the Mingomba Deposit, which is well-positioned to help create new jobs, bring significant new… Read More Here

International Cobalt Copper Exploration

Rio Tinto Strengthens Mining Ties with Angola through Second Investment Contract

January 30, 2024January 30, 2024 Constance

On January 17, 2024, Rio Tinto, the prominent English-Australian mining company, formalized a significant mining investment contract with the Angolan Ministry of Mineral Resources, Oil, and Gas in Luanda. The lucrative $5.7 million USD deal encompasses a 35-year exploratory license for the Moxico Concession, spanning an extensive 9,987 square kilometers (3,856 square miles). Rio Tinto’s exploration efforts will focus on uncovering base metals, including copper, zinc, cobalt, and titanium, according to the company’s official statement. The contractual agreement initiates a dedicated five-year prospecting phase, with the potential for a two-year… Read More Here

Mining in DRC Cobalt Copper Economy

DRC and China Discuss $7 Billion Financing for Mineral-Infrastructure Deal

January 22, 2024January 22, 2024 Constance

President Felix Tshisekedi announced during his second inaugural address in Kinshasa that China and the Democratic Republic of Congo are in discussions for $7 billion in financing as part of a renegotiated minerals-for-infrastructure deal. Tshisekedi has been advocating for the restructuring of a 2008 $6.2 billion contract, arguing that the original deal, centered around the Sicomines copper and cobalt mine, has provided minimal benefit to Congo. While the mine has been operational for years, Congo’s government reports that less than a third of the promised $3 billion in development funds… Read More Here

Battery Metals Cobalt International Lithium Mining Personality

Mehdi Wetterwald Exits Trafigura’s Metals Unit Amid Transformations

January 22, 2024January 22, 2024 Constance

Mehdi Wetterwald, previously co-head of battery metals at Trafigura Group, is leaving the trading house, marking the latest in a series of senior departures from its metals unit. Wetterwald, who had been with Trafigura since 2012, was appointed as co-head of global nickel, cobalt, and lithium trading alongside Daniel von Arx last February. Following a significant alleged nickel fraud against the company, von Arx later assumed sole leadership of the division. Sources familiar with the matter, speaking on condition of anonymity, indicated that Wetterwald is departing for personal reasons. His… Read More Here

Mining in DRC Battery Metals Cobalt

Northvolt Eyes Sustainable Cobalt Sourcing from DRC

January 19, 2024January 19, 2024 Constance

Swedish battery manufacturer Northvolt announced its intention to explore sourcing cobalt, a crucial component in electric vehicle (EV) battery production, from the Democratic Republic of Congo (DRC). The company has conducted trials, studied work processes, and compared plans to enhance both social and environmental sustainability, seeking long-term partnerships. Chief Environmental Officer Emma Nehrenheim expressed confidence in engaging with sourcing agreements within the year during a Reuters phone interview, though no specific timeframe was provided. Stakeholders’ requests prompted Northvolt to directly engage with miners and other parties to improve working conditions… Read More Here