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Category: Cobalt

Mopani plans to resume cobalt production as prices rise 1 Cobalt Mining in Zambia 

Mopani plans to resume cobalt production as prices rise

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Zambia’s Mopani Copper Mines (MCM) plans to resume cobalt production that was halted more than a decade ago after international prices collapsed, an executive at state-owned ZCCM-IH said on Tuesday. Accelerating sales of electric vehicles have fuelled a scramble for nickel, cobalt and lithium, propelling prices of the battery materials to multi-year highs. Brian Musonda, chief investment officer at ZCCM-IH, Zambia’s mining investment arm, said the rising prices were a strong economic reason to restart cobalt processing. “Going into next year, Mopani will start to process concentrates for cobalt and… Read More Here
As of May 25, 2022, a tonne of cobalt is trading at USD 74,645.00 on the international market 2 Copper Cobalt Zinc 

As of May 25, 2022, a tonne of cobalt is trading at USD 74,645.00 on the international market

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The cobalt market has not registered any significant advances for nearly a week in the international market. To date, a tonne of cobalt is trading at 74,645.00 USD on the London Stock Exchange against 74,670.00 USD for the week, representing a slight drop in price of around 25 USD. Two weeks ago, a ton of cobalt was sold at 81,485.00 USD on the international metal market. As one of the producing and exporting countries of this raw material, the Democratic Republic of Congo (DRC) keeps an eye on the development… Read More Here
China's Huayou Cobalt to invest $300m in Zimbabwe lithium mine 3 Cobalt Lithium 

China’s Huayou Cobalt to invest $300m in Zimbabwe lithium mine

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China’s Zhejiang Huayou Cobalt plans to invest $300-million on rapid development of a lithium mine and processing plant at its newly acquired Arcadia project in Zimbabwe, according to company documents seen by Reuters on Tuesday. Huayou, one of the world’s biggest producers of cobalt, recently completed a $422-million purchase of the hard-rock lithium mine just outside Harare from Australia-listed Prospect Resources PSC.AX and other Zimbabwean minorities.  “We intend to develop the project rapidly over the next year and invest around $300-million to develop the mine and construct a process plant with a capacity… Read More Here
copper down to USD 9,201 per ton but still maintains a profitable price level  4 Cobalt Copper Mining in DRC Zinc 

copper down to USD 9,201 per ton but still maintains a profitable price level 

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The trend is downward in the prices of mining export products from the Democratic Republic of Congo during this week from May 23 to 28, 2022, according to projections by the National Mercurial Commission of the Ministry of Foreign Trade. The only product on the rise this week is tantalum which is trading at 391.25 USD per Kg against 390.00 USD per Kg last week, generating a positive price difference of 1.25 USD. Copper therefore shows a downward trend on the market this week at 9,201.70 USD per tonne against… Read More Here
Anglo American starts autonomous haulage at Los Bronces copper mine in Chile 5 Cobalt Equipment & Technology Mining technology 

Anglo American starts autonomous haulage at Los Bronces copper mine in Chile

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As part of the continuous innovation that Anglo American seeks to achieve its purpose of re-imagining mining to improve people’s lives, the first two autonomous trucks at the Los Bronces copper mine in Chile were launched today – which are converted 290 t Komatsu 930E-4 trucks. This project is part of the site’s modernisation program, which includes the start-up of five Epiroc PV351 autonomous drilling rigs and the inauguration of its Integrated Remote Operation Centre (IROC), which both happened in 2021. The event was held simultaneously at two locations: at… Read More Here
copper, tin, zinc and cobalt at a rate of poor performance this week 6 Cobalt Copper Mining in DRC Tin Zinc 

copper, tin, zinc and cobalt at a rate of poor performance this week

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The main mining products exported from the Democratic Republic of Congo should suffer a poor performance this week on the international market. According to experts from the National Mercurial Commission of the Ministry of Foreign Trade, the general trend of these products for the period from May 16 to 21 is bearish. If this National Mercurial Commission notes, however, that only cobalt should experience a price increase on this market, selling around 87,781.06 USD per tonne this week against 81,485.00 USD per tonne last week, the prices displayed on the… Read More Here
Electric vehicles surpass phones as top driver of cobalt demand 7 Battery Metals Cobalt International Mining in DRC 

Electric vehicles surpass phones as top driver of cobalt demand

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Electric vehicles (EVs) overtook smartphones and other high-tech devices for the first time last year as the main driver of cobalt demand, with the sector consuming 59,000 tonnes of the battery metal, or 34% of the total globally. According to a report published on Tuesday by the Cobalt Institute, cellphones manufacturers consumed 26,000 tonnes of the metal used in lithium-ion batteries, while laptops and tablets accounted for 16,000 tonnes of the total demand, which reached 175,000 tonnes. The figure contrasts with the 160,000 tonnes of cobalt mined last year, highlighting one of… Read More Here
A tonne of cobalt should trade at 87,781.05 USD this week 8 Cobalt Mining in DRC 

A tonne of cobalt should trade at 87,781.05 USD this week

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According to projections by experts from the National Mercurial Commission of the Ministry of Foreign Trade, the general trend of the main mining products exported from the Democratic Republic of Congo is downward during the period from May 16 to 21, 2022. According to these projections, during the period considered, a single product should register a very significant increase in price on the international market. These include cobalt which is expected to decline from $81,485.00 per ton last week to $87,781.05 per ton this week. Indeed, this product should record a… Read More Here
Anglo American to return to Zambia with Arc Minerals copper deal 9 Copper Cobalt Mining in Zambia 

Anglo American to return to Zambia with Arc Minerals copper deal

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Junior exploration company Arc Minerals has entered into an agreement with a subsidiary of diversified miner Anglo American, which formalises the parties’ intention to form a joint venture (JV) with respect to Arc’s copper/cobalt project in the North-Western province of Zambia. Under the agreement, Anglo will have the right to earn a 70% interest in the JV for an aggregate investment of up to $88.5-million, including a cash consideration of up to $14.5-million, while Arc will retain the remaining 30%. “This agreement represents a major turning point for Arc and… Read More Here
African leaders talk up policy reform and regional cooperation in the mining sector 10 Economy Battery Metals Cobalt Copper Corporate social responsibility Events & Expos 

African leaders talk up policy reform and regional cooperation in the mining sector

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The Invest in Africa Mining Indaba heard that African leaders are waking up to the fact that the continent stands at the precipice of a generational opportunity to reinvent itself and participate in meaningful economic upliftment as the global energy transition accelerates. But to get there, several African leaders spoke of ongoing policy reforms to attract new investment and create new regional value chains to service the emerging green economy. South Africa’s president, Cyril Ramaphosa, told the Indaba audience that policy reforms were at the core of what was required… Read More Here

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