Cobalt - Copperbelt Katanga Mining

Minister Updates Child Welfare Project in Cobalt Supply Chain

March 25, 2024March 25, 2024 Constance

During a council meeting on Friday, March 21, Minister of Social Affairs, Humanitarian Actions, and National Solidarity, Modeste Mutinga, shared the interim outcomes of a project aimed at removing children from artisanal cobalt mines and transitioning their families into agribusiness. The initiative seeks to provide economic alternatives to diversify the local economy and offer socio-professional integration opportunities for the population. Key achievements include the support of 13,587 children, who were referred to schools near cobalt mining sites in Haut-Katanga and Lualaba. Additionally, plans are in place to construct 18 social… Read More Here

Western Interest Grows in Congolese Minerals as China Strengthens Ties

March 20, 2024March 20, 2024 Constance

In recent years, Western nations, particularly the European Union and the United States, have shown a heightened interest in the abundant reserves of cobalt and lithium present in the Democratic Republic of Congo (DRC). Recognizing the DRC’s significance in the global energy transition, these Western powers have intensified efforts to reduce reliance on China for critical mineral supplies, leading to a strategic repositioning in the region. This renewed focus prompted the DRC to seek a renegotiation of its 2008 agreement with the Chinese Enterprise Group, aiming for more favorable terms.… Read More Here

Battery Metals Cobalt Lithium Nickel

Goldman Sachs Forecasts Declines in Key Energy Transition Minerals (Study)

March 17, 2024March 17, 2024 Constance

Goldman Sachs, an American investment bank, forecasts significant declines in the prices of cobalt, nickel, and lithium over the next twelve months, driven by weakening demand from the electric vehicle industry in Western countries and oversupply. Despite already experiencing substantial drops—60% for nickel, 80% for lithium, and 65% for cobalt—from their peak levels, analysts at the Wall Street bank caution against premature optimism regarding the end of this downward trend. Over the coming year, Goldman analysts anticipate price decreases of 12% for cobalt, 15% for nickel, and 25% for lithium… Read More Here

Mining in DRC Cobalt Copper Gold

Copper and Other Mining Product Prices Show Slight Increases in International Markets

March 17, 2024March 17, 2024 Constance

During the period between March 9 and 14, 2024, the price of copper was expected to experience a slight increase in international markets. According to the National Mercurial Commission of the Ministry of Foreign Trade, copper, a key mining product exported from the Democratic Republic of Congo (DRC), was projected to sell at USD 8,406 per tonne during this period, compared to USD 8,335 per tonne the previous week, indicating a modest increase of USD 71.45 or 0.86%. Additionally, other main mining products exported from the DRC, such as cobalt,… Read More Here

Cobalt Battery Metals Copper Lithium

US Turns to Africa to Diversify Battery Metal Supply Chains

March 15, 2024March 15, 2024 Constance

The United States is seeking to Africa to reduce reliance on Chinese-controlled battery metals and diminish Russia’s influence on mineral markets, US Deputy Treasury Secretary Wally Adeyemo stated on Thursday. In light of the pandemic and geopolitical tensions, Western nations are striving to decrease dependency on Chinese supply chains and disentangle their economies from Russia. As the US advances its energy transition agenda, it aims to catch up with China’s decade-long efforts to secure access to minerals crucial for electric vehicle batteries and solar panels. “We don’t want to overly… Read More Here

Mining in DRC Cobalt Copper

President Tshisekedi Oversees Renegotiation of Mining Contract with Chinese Group

March 15, 2024March 15, 2024 Constance

In Kinshasa this Thursday, President Félix Tshisekedi led the signing of the renegotiated mining contract with the Chinese Enterprises Group (GEC), marking the fifth amendment to the collaboration agreement initiated in April 2008 for mining and infrastructure projects in the Democratic Republic of Congo (DRC). The contract amendment aims to establish a mutually beneficial partnership, including a significant increase in infrastructure investment from USD 3.2 billion to USD 7 billion, with plans for constructing approximately 5,000 km of roads, according to Alexis Gisaro, Minister of State for Infrastructure and Public… Read More Here

Mining in DRC Battery Metals Cobalt Copper

DRC Grants $3.5M to Buenassa for Copper-Cobalt Plant

March 15, 2024March 15, 2024 Constance

Buenassa SARL has been granted $3.5 million by the Democratic Republic of Congo’s Industry Promotion Fund to facilitate the establishment of a copper and cobalt refinery in Lualaba province. The company announced this development in a recent press release. The funding, allocated by the Industry Minister Julien Paluku, is intended to kickstart the project aimed at bridging the gap between mining and the production of battery precursors. The initial focus will be on conducting studies, with production slated to commence in 2027. Buenassa SARL has set ambitious targets of producing… Read More Here

Mining in Zambia Battery Metals Cobalt Copper Exploration Lithium

KoBold Metals Leads the Charge in Mineral Exploration for Energy Transition

March 13, 2024March 13, 2024 Constance

KoBold Metals, a pioneering mining startup with backing from industry giants like Bill Gates and Jeff Bezos, is optimistic about its prospects in uncovering crucial metals vital for the energy transition. The company’s enthusiasm surged following its recent breakthrough discovery of a substantial copper deposit in Zambia. According to Josh Goldman, KoBold Metals’ president, this find marks a significant milestone, especially amid the mining industry’s struggle to meet the growing demand for metals essential to the energy transition. Utilizing artificial intelligence to create a “treasure map,” KoBold Metals focuses on… Read More Here

International Battery Metals Cobalt Lithium Nickel

Market Forecast: Cobalt, Nickel, and Lithium Prices to Decline by December 2024

March 11, 2024March 11, 2024 Constance

Goldman Sachs Predicts Drop in Key Minerals for Energy Transition Goldman Sachs, renowned for its market analysis, foresees a downturn in cobalt, nickel, and lithium prices by December 2024, essential minerals for the energy transition. Analysts attributed this projected decline to decreasing demand from the electric vehicle industry in Western nations. According to Goldman’s forecast estimates, cobalt prices are expected to decrease by 12%, nickel by 15%, and lithium by 25% over the next twelve months. The bank’s analysts emphasized that despite supply constraints in late 2023 due to margin… Read More Here

Mining in DRC Battery Metals Cobalt

Federal Court Clears Tech Giants of DRC Cobalt Child Labor Accusations

March 10, 2024March 10, 2024 Constance

A federal appeals court has dismissed a case accusing major technology companies, including Alphabet, Apple, Dell Technologies, Microsoft, and Tesla, of complicity in child labor practices within cobalt mining operations in the Democratic Republic of the Congo (DRC). Sixteen plaintiffs, representing children allegedly affected by cobalt mining, brought the case to court. The U.S. Court of Appeals for the District of Columbia ruled in favor of the technology companies, stating that their purchasing of cobalt did not constitute direct involvement in the use of child labor, as outlined in federal… Read More Here