Cobalt - Copperbelt Katanga Mining

EU and Canadian IMPACT team up to Combat Cobalt Corruption in DRC

March 24, 2023March 24, 2023 Constance

The Canadian organization IMPACT, which specializes in improving the management of natural resources, launched on March 21 in the city of Kolwezi the project “Mapping costs”. This is an initiative funded by the European Union and intended to fight against corruption by promoting transparency of taxes and royalties applicable in the artisanal cobalt sector in the DRC. This initiative brings together various stakeholders, including local elected officials, artisanal miners, civil society actors, traders and experts in mining and financial management, this project will consist of holding a series of workshops to… Read More Here

Cobalt Mining in DRC

Chinese company CMOC to lead Global Cobalt production in DRC

March 23, 2023March 23, 2023 Constance

The Democratic Republic of Congo (DRC) is known internationally for its mining potential representing more or less 1,100 different mineral substances. In accordance with its mining code, which has the merit of being attractive and inciting, the country seems to be a very fertile market for the giants of the mining sector. With the entry into production of the Kisanfu mine of the Chinese mining giant CMOC scheduled for the second quarter of the current year, the CMOC mining company will double its production of cobalt, with an annual production… Read More Here

International Cobalt

China to increase control over Global Cobalt Supply

March 15, 2023March 15, 2023 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

Mining in DRC Cobalt

TFM Miners call Kinshasa for Responsibility

March 10, 2023March 10, 2023 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

Events & Expos Battery Metals Cobalt Copper International Lithium Nickel

Battery Metal frenzy outshines Recovery fears at PDAC

March 9, 2023March 9, 2023 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

Mining in DRC Cobalt

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

March 8, 2023March 8, 2023 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

International Battery Metals Cobalt Copper Lithium Nickel

Battery metals projects catch eye of Pension funds and Carmakers

March 8, 2023March 8, 2023 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

Cobalt Mining in DRC

Cobalt Continues to Tumble This week

March 6, 2023March 6, 2023 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

Mining in DRC Battery Metals Cobalt

Lessons from Cobalt price Drop for Congo?

March 5, 2023March 5, 2023 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

Mining in DRC Cobalt Copper

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

February 28, 2023February 28, 2023 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