Cobalt - Copperbelt Katanga Mining

Congo’s Largest Bank Expects Mining Loan Portfolio to Surpass $1 Billion

February 12, 2023February 12, 2023 Constance

Rawbank Sarl, based in Kinhsasa, predicts that its lending to the Democratic Republic of Congo’s mining industry will surpass $1 billion this year, with an increase of over 20%, fueled by growing demand and strong prices for the country’s strategic minerals. The bank’s mining loan portfolio increased to $820 million in 2022, nearly doubling its credit offerings from the previous year, according to Etienne Mabunda, commercial director at Rawbank Sarl. The loans include credit to mining companies, subcontractors, and salaried workers at large firms. High mineral prices and a recent… Read More Here

Copper Cobalt Mining in DRC

ERG to Invest $1.8 Billion in Doubling Copper and Cobalt Production in Africa

February 9, 2023February 9, 2023 Constance

Eurasian Resources Group (ERG), a mining company supported by Kazakhstan, has announced its plan to invest $1.8 billion in doubling its African copper and cobalt production. The expansion in the Democratic Republic of Congo is expected to take place over a four-year period, and is driven by the increasing demand for metals necessary for the transition to green energy. The CEO, Benedikt Sobotka, believes that the rise in demand for battery materials as more electric vehicles are produced puts ERG in a favorable position. ERG currently produces 200,000 tons of… Read More Here

Battery Metals Cobalt Mining in DRC

Artisanal Cobalt Mines Vital to Global Production

February 9, 2023February 9, 2023 Constance

Cobalt buyers must push for reforms to regulate the operations of artisanal mines in the Democratic Republic of Congo, as they are crucial in meeting the growing demand for the metal used in electric vehicles and consumer electronics, according to a new report. A paper published by the Geneva Center for Business and Human Rights and the NYU Stern Center for Business and Human Rights stated that cobalt buyers face a challenge when trying to differentiate between the production from industrial mines and the significant output from artisanal small-scale mining… Read More Here

International Battery Metals Cobalt

Indonesia Emerges as the Top Cobalt Producer Outside of Africa

February 8, 2023February 8, 2023 Constance

Indonesia has emerged as a significant player in the global cobalt production, becoming the second-largest producer of the battery material. According to US government data, Indonesia surpassed other countries such as Russia and Australia to secure the second spot in 2022. This expansion is expected to continue this decade, reducing the world’s dependence on the Democratic Republic of Congo for over two-thirds of cobalt supplies and avoiding potential shortages. Indonesian President Joko Widodo has been promoting the country’s battery and EV industries, leveraging its abundant mineral resources. The country already… Read More Here

Mining in DRC Battery Metals Cobalt Copper

DRC President Seeks New Ventures for Green Energy Metals Exploration

February 8, 2023February 8, 2023 Constance

President Felix Tshisekedi aims to establish the Democratic Republic of Congo as a crucial provider of metals for the transition to green energy. This objective requires fresh exploration for nickel and chrome. President Felix Tshisekedi announced at the Investing in African Mining Indaba conference in Cape Town, South Africa, yesterday 7th February, that exploration for nickel and chrome in the diamond-rich Kasai region of southern Congo will commence in the near future. The country is currently seeking investment partners for the processing of cobalt, tantalum, tin, and lithium. The shift… Read More Here

Cobalt Mining in DRC

DRC yields 111,309 tonnes of Cobalt in 2022 Production

February 2, 2023February 2, 2023 Constance

In its compendium of statistical information published in January 2023, the Central Bank of Congo (BCC) indicated that the production of cobalt in the Democratic Republic of Congo (DRC) in 2022 stood at 111,309 tons. This production for 2022 is a marked increase compared to the year 2021 where the BCC figures indicate a production of around 93,144 tonnes. According to the BCC, during the year 2022, Gécamines produced only 19,907 tons of cobalt against 93,144 tons during the year 2021. Private companies operating in the country produced 91,402 tonnes… Read More Here

Copper Cobalt International

Glencore Joins World’s First Battery Passport Pilot

January 27, 2023January 27, 2023 Constance

Global miner and commodity trader Glencore has now become part of the world’s first battery passport proof of concept launched by the Global Battery Alliance. “We spearheaded the first pilot passport leveraging the Resource platform in collaboration with Glencore’s Kamoto Copper Company SA, LG Energy Solution and Tesla,” Glencore stated in a media release. “As the world seeks to address climate change, minerals are set to play a pivotal role in decarbonizing energy consumption and mobility. At the same time, society’s expectations with respect to environmental and social performance of companies continue… Read More Here

Mining in Zambia Cobalt Copper News in Brief

Mineral Prices This Week

January 27, 2023January 27, 2023 Constance

Copper, cobalt, nickel, coal, and oil are all natural resources that are commonly used in various industries. Copper is a versatile metal that is used in electrical wiring, plumbing, and construction, while cobalt is used in the production of batteries, magnets, and super alloys. Nickel is used to make stainless steel and other alloys, as well as being used in the production of coins and batteries. Coal is primarily used to generate electricity, while oil is used to fuel vehicles and power plants, as well as being a key ingredient… Read More Here

Cobalt International

Cobalt Demand Positively Impacted By Increasing Sales Of New Energy Vehicles

January 26, 2023January 26, 2023 Constance

According to trade association the Cobalt Institute’s quarterly market update for the fourth quarter of 2022, global new energy vehicle (NEV) sales rose by 56% year-on-year to 3.5-million units, with NEV penetration reaching nearly 20% by December. The report, which was prepared with the help of Wood Mackenzie, notes that the share of cobalt-free chemistries in electric vehicle (EV) battery formulations has increased, with lithium iron phosphate (LFP) now representing more than 30% of the total market. Despite this, cobalt consumption in EVs jumped by more than 60% year-on-year in 2022. Meanwhile,… Read More Here

Cobalt Mining in DRC

Cobalt Price Drops to 48,313.0 USD Per Ton in Latest Week

January 24, 2023January 24, 2023 Constance

For the second consecutive week, the price of cobalt is down on the international market. Although the general price trend for mining products exported from the Democratic Republic of Congo (DRC) is upward on the international market for the period from January 23 to 28, 2023, the price of cobalt is expected to fall again this week. According to projections by the National Commission of Mercurials, cobalt should trade around 48,313.00 USD per tonne this week against 48,795 USD last week, a further drop in price of around 482 USD.… Read More Here