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Category: Cobalt

congo cobalt ore International Cobalt 

China to increase control over Global Cobalt Supply

Constance
China is poised to increase its control over the global cobalt supply, according to a report by Darton Commodities, a UK-based cobalt trader. Over the next two years, China’s share of cobalt production is expected to reach half of global output, up from 44% at present, Darton said. Chinese refining activity reached 140,000 tonnes in 2022, giving the country a 77% global share of refining capacity. The price of the metal hit a 32-month low this month amid a surge in production. Global mine production grew 42% between 2020 and… Read More Here
TFM Miners call Kinshasa for Responsibility 1 Mining in DRC Cobalt 

TFM Miners call Kinshasa for Responsibility

Constance
While the conflict between the Congolese State and the Chinese group CMOC seems to be at an impasse, the inter-union of the mining site held a press conference on Tuesday to ask the government to lift restrictions on cobalt exports.  A matter of life or death for this huge industrial site, which sustains an entire region and contributes greatly to local and national public finances in the DRC. Will cobalt ever again be exported from the Tenke Fungurume Mining (TFM) mine? The mining site, located in the province of Lualaba, in… Read More Here
Battery Metal frenzy outshines Recovery fears at PDAC 2 Events & Expos Battery Metals Cobalt Copper International Lithium Nickel 

Battery Metal frenzy outshines Recovery fears at PDAC

Constance
Tepid global demand for metals driven by recession fears and China’s weak economic recovery have done little to shake the belief among miners that battery materials are heading for an epic bull run. That was the sentiment of thousands of executives, investors, government officials and bankers who crammed into a conference center in Toronto for the past four days to showcase their assets, network and strike deals. For the event organizer, the Prospectors & Developers Association of Canada gathering highlighted the industry’s push to be part of the solution in… Read More Here
DRC Dominates Green Metal production, Boosting Cobalt supply in 2022. 3 Mining in DRC Cobalt 

DRC Dominates Green Metal production, Boosting Cobalt supply in 2022.

Constance
The cobalt market has seen its biggest increase in supply in 2022, driven by booming production of the crucial battery metal in the Democratic Republic of Congo and Indonesia, according to specialist trading firm Darton Commodities, reports. mining.com. Mined cobalt supply rose 23% to 187,060 tonnes in 2022, in a surge in supply that erased a large deficit seen in 2021 and left the market in one of its biggest surpluses ever. at the end of the year, Darton said Monday in its annual cobalt report. This surge in supply… Read More Here
Battery metals projects catch eye of Pension funds and Carmakers 4 International Battery Metals Cobalt Copper Lithium Nickel 

Battery metals projects catch eye of Pension funds and Carmakers

Constance
Critical minerals projects are attracting newfound interest from pension funds and automakers to help tackle a looming shortage of battery metals, say some of Canada’s top investment bankers. The rush for metals like lithium, copper and nickel needed to power electric vehicles has “clearly brought the sector into a spotlight that it wasn’t in a few years ago,” Ilan Bahar, global mining co-head at BMO Capital Markets, said during a Monday panel discussion at a mining conference in Toronto. Bank of Montreal’s investment banking business has seen more interest from… Read More Here
congo cobalt ore Cobalt Mining in DRC 

 Cobalt Continues to Tumble This week

Constance
Projected upward in 2023 by metallurgy experts for its crucial role in the fight against climate change, the price of cobalt is only plummeting on international markets. According to projections made by experts from the National Commission of Mercurials of the Ministry of Foreign Trade of the Democratic Republic of Congo, cobalt is expected to trade lower for the period from March 6 to March 11, 2023 at 33,504.00 USD per ton against 35,012.00 USD per ton last week, ie a negative price difference of around -1,958 USD. The same… Read More Here
Lessons from Cobalt price Drop for Congo? 5 Mining in DRC Battery Metals Cobalt 

Lessons from Cobalt price Drop for Congo?

Constance
 The recent installation of the organizers of the Congolese Council of the Battery by the President of the Republic will have been preceded a few weeks before by a new very significant drop in the price of Cobalt. Listed at USD 82,000 per tonne between March and May 2022, this coveted metal saw its price drop below USD 35,000 per tonne at the end of February 2023. Three reasons explain this price drop: (1) The significant drop in demand for batteries previously stimulated by the explosion in sales of electronic… Read More Here
$1.5B Copper & Cobalt Stock Blocked at Tenke Fungurume Amid CMOC-Gécamines Dispute 6 Mining in DRC Cobalt Copper 

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

Constance
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
NGOs Plead for Maintenance of American Sanctions and Call on DRC Justice to Prosecute Authors of the SICOMINES Contract 7 Mining in DRC Cobalt 

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

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
The Price of Cobalt sinks further to 35,000 USD Per ton 8 Cobalt Mining in DRC 

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

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

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