Cobalt - Copperbelt Katanga Mining

Microsoft calls for 'coalition' to Improve Congo's Informal Cobalt Mines 1

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

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

Mining in DRC Cobalt Copper

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