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Category: Cobalt

China's CMOC restarts copper and cobalt exports from DRC's TFM mine 1 Mining in DRC Cobalt Copper 

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

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
Cobalt Mining in DRC Cobalt Economy News in Brief 

The DRC produced 21,170 tons of cobalt in the 1st quarter of 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
Cobalt Plunges to New Lows in DRC's Mining Sector 2 Mining in DRC Cobalt Economy 

Cobalt Plunges to New Lows in DRC’s Mining Sector

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
Copper Plummets by $302, Trading at Approximately $8,208 per Ton in the Week of May 22-27, 2023 in DRC 3 Copper Cobalt Mining in DRC 

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

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
DRC seeks increased stakes in Cobalt and Copper ventures with Chinese corporations 4 Mining in DRC Cobalt Copper Economy 

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

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
copper, cobalt, zinc and tin prices red in DRC this week 5 Mining in DRC Cobalt Copper Economy Zinc 

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

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
DRC ranks first Producer of Cobalt with 73% of the total supply in 2022 6 Mining in DRC Cobalt 

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

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
DRC Set to Maintain Dominance in the Cobalt Market Until 2030 7 Mining in DRC Cobalt 

DRC Set to Maintain Dominance in the Cobalt Market Until 2030

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
congo cobalt ore Cobalt Mining in DRC 

Cobalt Prices Surge, Expected to Reach $34,247.00 per Tonne This Week in DRC

Constance
Since its sudden fall in July 2022, cobalt has struggled to regain its best level on the international mining product markets. The forecasts of the National Mercurial Commission of the Ministry of Foreign Trade for the period from Monday 8 to Saturday, May 13, 2023 indicate that the tonne of cobalt should increase slightly to 34,247.00 USD against 34,244.00 USD per tonne a week earlier. Gold is also expected to see a slight rise in price this week from USD 64.47 to USD 64.51 in international markets over the same… Read More Here
DRC's Glencore yields 61,800 tonnes of copper and 9,800 tonnes of cobalt in Q1 of 2023 8 Copper Cobalt Mining in DRC 

DRC’s Glencore yields 61,800 tonnes of copper and 9,800 tonnes of cobalt in Q1 of 2023

Constance
Through its mines in the Democratic Republic of Congo, Katanga and Mutanda, Glencore produced 61,800 tonnes of copper and 9,800 tonnes of cobalt in the first quarter of 2023, up 11.15% and 11.36% respectively year-on-year annual, according to its activity report published on April 21, 2023. The Swiss commodities giant says its overall quarterly copper production has nevertheless fallen by 5% compared to 2022, to 244,100 tonnes for all its mines. On analysis, this drop is linked in particular to the expected lower grades of the ore extracted over the… Read More Here

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