Cobalt - Copperbelt Katanga Mining

Sino-US Rivalry Intensifies for DRC’s Strategic Minerals

July 14, 2023July 14, 2023 Constance

The very rare riches of the Democratic Republic of Congo’s subsoil, cobalt as a bonus, are at the heart of the opposition of interests between the United States and China in a world in the midst of a race to control strategic minerals for the energetic transition. A bill requiring the establishment of a U.S. national strategy to secure critical mineral supply chains from the Democratic Republic of the Congo was introduced Tuesday, July 11, 2023, in the U.S. House of Representatives, by John James , president of the Africa… Read More Here

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Top 5 copper and cobalt mines in Africa by potential production

July 13, 2023July 13, 2023 Constance

Used for the production of lithium-ore batteries, copper and cobalt are becoming increasingly sought after as nations move to transition to a renewable energy future. A 2023 Battery Metals report by Creamer Media anticipates global copper production to increase by an average rate of 3.2% a year between 2022 and 2031, with output rising from 2.1 million tons to 28.2 million tons per year (t/y) during the same period. In this scenario, the report states that Africa – rich in copper and cobalt among other critical minerals – stands to… Read More Here

Mining in DRC Cobalt Copper

China’s CMOC restarts copper and cobalt exports from DRC’s TFM mine

July 11, 2023July 11, 2023 Constance

China’s CMOC Group said on Monday July 10th that it has resumed exports of copper and cobalt from its TFM mine in the Democratic Republic of Congo, in the first confirmation of shipments after it resolved a dispute with the state miner in April. Exports from the Tenke Fungurume Mining (TFM) operation, which in 2021 supplied 10% of the world’s cobalt, were halted in July 2022 after a row erupted with state miner Gecamines over mineral royalty payments. The dispute was resolved in April, but at the time, neither side disclosed… Read More Here

Mining in DRC Cobalt Economy News in Brief

The DRC produced 21,170 tons of cobalt in the 1st quarter of 2023

July 4, 2023July 4, 2023 Constance

The Ministry of Mines says the Democratic Republic of Congo produced 21,170.43 tonnes of cobalt in the first quarter of 2023. According to data from the DRC Ministry of Mines, the entire volume produced in the first quarter of the year was exported abroad, 21,170.43 tons of cobalt. In the year 2022, the Democratic Republic of Congo had produced 115,371 tons of cobalt. Read More Here

Mining in DRC Cobalt Economy

Cobalt Plunges to New Lows in DRC’s Mining Sector

June 17, 2023June 17, 2023 Constance

While the general trend of the main mining export products of the Democratic Republic of the Congo is on the rise, cobalt continues its descent into hell during this week from June 12 to 17, 2023, according to Commission projections. National Mercuriales of the Ministry of Foreign Trade. Cobalt therefore maintains its downward trend this week at 28,838 USD per tonne against 29,239 USD per tonne last week, i.e. a negative price difference of 401 USD. Copper is up this week at 8,294.65 USD per tonne against 8,044.30 USD per… Read More Here

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Copper Plummets by $302, Trading at Approximately $8,208 per Ton in the Week of May 22-27, 2023 in DRC

May 26, 2023May 26, 2023 Constance

The general trend in the prices of the main mining export products of the Democratic Republic of the Congo is downward, in view of the projections of the National Mercurial Commission of the Ministry of Foreign Trade. Copper is trending down this week at $8,208.20 per ton from $8,512.65 per ton last week, a negative price gap of $302. Cobalt is also down this week at USD 34,240 per tonne versus USD 34,246.00 per tonne last week, showing a decline of USD 6. Similarly, zinc ore is trending down this… Read More Here

Mining in DRC Cobalt Copper Economy

DRC seeks increased stakes in Cobalt and Copper ventures with Chinese corporations

May 26, 2023May 26, 2023 Constance

The Democratic Republic of the Congo plans to increase its interest in a cobalt and copper joint venture with Chinese corporations from 32% to 70%, citing worries that the pact hands away too much of Congo’s resources for little value to the country. Congo claims that the asymmetrical agreement gives it little influence over the venture’s activities since its resources and earnings leave the nation. In March President Felix Tshisekedi established an ad hoc panel to harmonize the negotiation positions of the Congolese institutions in charge of overseeing the deal’s… Read More Here

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copper, cobalt, zinc and tin prices red in DRC this week

May 24, 2023May 24, 2023 Constance

The economy of the Democratic Republic of Congo (DRC) is expected to suffer a shock from the drop in the projected price of four mining products on international markets. These are mainly copper, cobalt, zinc and tin. According to projections by the National Commission for Market Prices, copper is expected to fall to USD 8,208.20 this week from USD 8,512.65 a week earlier, down around USD 304.45. Cobalt is expected to trade at USD 34,240.00 this week versus USD 34,246.00 last week, the same source notes. Zinc and tin are also… Read More Here

Mining in DRC Cobalt

DRC ranks first Producer of Cobalt with 73% of the total supply in 2022

May 22, 2023May 22, 2023 Constance

The Democratic Republic of Congo (DRC) ranks first in the ranking of cobalt-producing countries in Africa, according to a study by the Cobalt Institute. The source informs that the country produced more than 70% of the total supply in 2022, thus dominating the world production of cobalt. The document informs that the DRC is not the only African country included in the ranking. Madagascar remained Africa’s second largest producer last year, overtaking Morocco, which is home to the continent’s only mine producing only cobalt. The African top 5 is completed… Read More Here

Mining in DRC Cobalt

DRC Set to Maintain Dominance in the Cobalt Market Until 2030

May 12, 2023May 12, 2023 Constance

In 2022 alone, the Democratic Republic of the Congo produced 115,371 tonnes of cobalt, more than two-thirds of global production. This importance of the DRC in the world supply of the green metal will have to continue until 2030, according to the projections of the Cobalt Institute, in its report of the year 2022 relating to the state of the world market. According to expert projections, the DRC should represent 57% of the world’s cobalt supply from its mines in 2030, compared to 73% in 2022. This, despite the rise… Read More Here