Cobalt - Copperbelt Katanga Mining

$1.5B Copper & Cobalt Stock Blocked at Tenke Fungurume Amid CMOC-Gécamines Dispute 1

A growing pile of copper and cobalt worth around $1.5 billion is stuck in the Democratic Republic of Congo, caught in a standoff over the future of one of the world’s biggest battery metal mines. world. The huge stockpile of metal is owned by China’s CMOC Group Ltd, which is locked in a dispute with its Congolese state partner over royalty payments. While its exports were stalled in mid-July, CMOC’s Tenke Fungurume mine continued to operate near capacity, simply stockpiling extra metal until it could resume shipments, people close say… Read More Here

Mining in DRC Cobalt

NGOs Plead for Maintenance of American Sanctions and Call on DRC Justice to Prosecute Authors of the SICOMINES Contract

February 27, 2023February 27, 2023 Constance

Gathered in Kolwezi, Lubumbashi and Kinshasa, in citizens’ cafés, civil society organizations and citizens’ movements are pleading with the US Treasury to maintain the sanctions imposed against Mr. Dan Gertler for acts of corruption committed in Democratic Republic of Congo. Indeed, the acts of corruption committed by Dan Gertler, in complicity with certain Congolese leaders, cause the public treasury to lose hundreds of thousands of US dollars per day to the benefit of individuals, and keep the Congolese population in poverty. This is why civil society organizations and citizen movements… Read More Here

Cobalt Mining in DRC

The Price of Cobalt sinks further to 35,000 USD Per ton

February 27, 2023February 27, 2023 Constance

Apart from tantalum and copper, all the other main export products of the Democratic Republic of the Congo show a downward trend in this week from February 27 to March 4, 2023, inform the projections of the National Mercurial Commission of the Ministry of Commerce. outside. Copper is up this week at 8,999 USD per ton against 8,905 USD per ton last week, a positive price difference of 94.45 USD. Tantalum is also up this week at 384 USD per Kg this week against 380 USD per Kg last week,… Read More Here

Mining in DRC Cobalt

Microsoft calls for ‘coalition’ to Improve Congo’s Informal Cobalt Mines

February 22, 2023February 22, 2023 Constance

Microsoft visited an artisanal cobalt mine in Democratic Republic of Congo in December as part of attempts to jump-start formalisation of the little-regulated and dangerous industry that experts say is key to meeting global demand for the battery material. Congo accounts for three-quarters of the world’s mined cobalt supply. Industrial mines produce most of Congo’s cobalt, but “artisanal” miners, who dig by hand and often die when tunnels cave in, account for up to 30% of production, though that fluctuates depending on price. In the first known visit by a… Read More Here

Battery Metals Cobalt Copper

Africa’s Mineral Resources Targeted to Power Biden’s Green Energy Transition

February 22, 2023February 22, 2023 Constance

The United States’ domestic sources of minerals critical to the production of electric vehicles and green energy technologies may be restricted due to the Biden Administration’s reluctance to open mining opportunities. Africa is emerging as an alternative to China as a source of the minerals needed for electric vehicles and wind and solar technologies. The Biden administration opened the door to financing cobalt mining projects in the Democratic Republic of Congo and Zambia last year to meet the objectives of his climate agenda. African countries such as Zimbabwe and Namibia… Read More Here

Mining in Zambia Battery Metals Cobalt Copper Energy Events & Expos

Attendees at 2023 Mining Indaba share Zambia’s progress since 2022

February 19, 2023February 19, 2023 Constance

It’s been eight months since Zambia used its moment in the limelight at the 2022 Investing in African Mining Indaba to deliver the message that President Hichilema’s Administration would be prioritizing policy stability and predictability in the mining sector, the country’s biggest foreign exchange earner. Now, with the 2023 Mining Indaba behind us, Mining For Zambia reflects on the impression of unity that Africa’s second largest copper producer created for the investors, political leaders, commodity traders, and companies across the mining value chain who gathered at last week’s event. Ministries, parastatals, the Zambia Chamber… Read More Here

Mining in DRC Cobalt Copper

DRC Seeks Additional $17bln Financing in Infrastructure From China Deal

February 17, 2023February 17, 2023 Constance

The Inspection Generale des Finances (IGF), Congo’s state auditor, has demanded an increase in investment of $17 billion from Chinese investors in a 2008 infrastructure-for-minerals deal, which is currently being renegotiated. The deal was struck by President Felix Tshisekedi’s predecessor, Joseph Kabila, and involved Sinohydro Corp and China Railway Group Limited building roads and hospitals in exchange for a 68% stake in Sicomines, a cobalt and copper joint venture with Congo’s state mining company, Gecamines. The Chinese investors had committed to spending $3 billion on infrastructure projects, but the IGF… Read More Here

Cobalt Battery Metals International

Has Cobalt’s Battery-Powered Boom Turned to Bust?

February 17, 2023February 20, 2023 Constance

A blistering rally in the cobalt market is turning into a rout, putting pressure on miners and offering tentative cost relief for carmakers after a surge in battery metal prices last year. Cobalt rallied sharply early in 2022 as demand for electric vehicles surged. But while automotive usage is still rising, there’s been a sharp drop-off in buying from another key sector — Chinese electronics — and cobalt prices have crashed more than 50% since a peak in May. Pound for pound, the batteries used in laptops, phones and tablets… Read More Here

Mining in DRC Cobalt

Cobalt Price drops 18% to $39,348/tonne this Week Feb 13-18, 2023

February 15, 2023February 15, 2023 Constance

The main export products of the Democratic Republic of Congo are showing a downward trend this week from February 13 to 18, 2023, according to projections by the National Mercurial Commission of the Ministry of Foreign Trade. Cobalt is experiencing a price drop of 18.57% this week. It is trading this week at 39.348 USD per ton against 48.324 USD per ton last week, a price drop of 8976 USD. Copper is also down this week at USD 8986 per tonne from USD 9221 per tonne last week, a negative price… Read More Here

Mining in DRC Cobalt

Cobalt production in DRC hits 115,371.31 tonnes By the Close of 2022

February 14, 2023February 14, 2023 Constance

According to official statistical data published by the Ministry of Mines, the Democratic Republic of Congo (DRC) produced 115,371.31 tons of cobalt during the year 2022. This production is up from its level in 2021, when it was estimated at around 93,010.53 tonnes. These statistical data also indicate that during the same period, the DRC exported 115,371.31 tons of cobalt against 93,010.53 tons for 2021. Considered in the automotive industry as one of the minerals of the energy transition, cobalt should go up at auction in the coming years, predict… Read More Here