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Category: Cobalt

Uganda seeks investors to revive copper mine 1 Copper Cobalt International 

Uganda seeks investors to revive copper mine

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Uganda said on Tuesday it was inviting expressions of interest from investors to restart a vast copper mine in the country’s west that also holds significant cobalt deposits. The Kilembe mine, which sits on the foothills of the ice-capped Rwenzori mountains on the border with Democratic Republic of the Congo, is estimated by government geologists to contain about four-million tonnes of ore that is 1.98% copper and 0.17% cobalt. “We have invited companies to express their interest in partnering with the government through a mineral production sharing agreement,” Uganda’s finance and… Read More Here
Glencore to supply cobalt to GM in multi-year deal 2 Cobalt International 

Glencore to supply cobalt to GM in multi-year deal

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Miner and commodities trader Glencore (LON: GLEN) has inked a multi-year agreement with General Motors (NYSE: GM) to provide the automaker with cobalt from its Murrin Murrin operation in Australia. The US car producer has committed to making all-electric vehicles by the end of the decade, setting the goal of having 30 new EVs models, equivalent to 1 million electric cars, in the market by 2025. “Climate change is real, and we want to be part of the solution by putting everyone in an electric vehicle,” chair and chief executive officer Mary Barra said… Read More Here
World: down, the price of cobalt drops to 81,579.00 USD per ton this week 3 Mining in DRC Cobalt 

World: down, the price of cobalt drops to 81,579.00 USD per ton this week

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The general trend of mining products exported from the Democratic Republic of Congo (DRC) is bearish on the international market for the week from April 11 to 16, 2022. This is reported in the press release from the National Commission of Mercurial Prices of the Ministry of Foreign Trade, which assesses weekly the evolution of the prices of mining and agricultural products exported from the DRC. According to this press release, cobalt is expected to fall in the market to trade at 81,579.00 USD per ton this week against 82,067.00… Read More Here
Market: copper down slightly but its price remains very profitable at 10,331 USD per ton 4 Copper Cobalt Mining in DRC Zinc 

Market: copper down slightly but its price remains very profitable at 10,331 USD per ton

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The DRC’s mining export products continue to record an upturn in prices on the international market in this week from April 11 to 16, 2022, inform the projections of the National Commission of Mercurial Prices of the Ministry of Foreign Trade. Although showing a slight drop of barely 1 US dollar, copper remains very profitable on the market. It is trading at 10,331.95 USD per ton this week against 10,332.95 USD per ton last week. Cobalt also experienced a drop this week and sold at 81,579.00 USD per ton against 82,067.00… Read More Here
World: the main mining products exported from the DRC are on the rise 5 Mining in DRC Cobalt Copper 

World: the main mining products exported from the DRC are on the rise

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The price of the main mining products exported from the Democratic Republic of Congo on the international market remains at a very significant remunerative level, indicates the Central Bank of Congo (BCC) in its weekly information note. According to the Central Bank of the Democratic Republic of Congo, this increase in the price of mining products is due to a high level of world demand, but above all to the impact of the Russian-Ukrainian conflict. Holding more than 50% of the world’s cobalt reserves, the price of which continues to… Read More Here
World: up this week, the tonne of cobalt goes from 81,619.00 USD to 82,067.00 USD 6 Cobalt Mining in DRC 

World: up this week, the tonne of cobalt goes from 81,619.00 USD to 82,067.00 USD

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The general trend in the prices of mining products exported from the Democratic Republic of Congo (DRC) on the international market is upward during the week from April 4 to 9, 2022. This is what the experts of the National Commission of Mercurial Prices of the Ministry of Foreign Trade have informed, who assess the evolution of the prices of mining and agricultural products exported from the DRC. In a very good dynamic for several months already, cobalt should record a price increase on the international market this week. This product… Read More Here
World: slightly up, a tonne of cobalt is trading at 81,840 USD as of March 31, 2022 7 Cobalt Mining in DRC 

World: slightly up, a tonne of cobalt is trading at 81,840 USD as of March 31, 2022

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As of March 31, 2022, a tonne of cobalt recorded a slight price increase on the international market. According to the London Metal Exchange (LME), which is the global industrial center for metals trading, a tonne of cobalt is trading at 81,840.00 US dollars at the end of March 2022 against 81,690.00 USD last week.Thus, cobalt recorded a positive price gap of around USD 150 during this period. In the Democratic Republic of Congo (DRC), projections by experts from the National Commission on Mercurial Prices of the Ministry of Foreign… Read More Here
DRC: Gécamines has suspended its legal action against China Molybdenum 8 Copper Cobalt Mining Companies Mining in DRC 

DRC: Gécamines has suspended its legal action against China Molybdenum

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Congolese state mining company Gécamines has suspended its legal action against China Molybdenum, which was stripped of control of its giant Tenke Fungurume copper and cobalt mine in the country last month, as authorities seek a solution to a dispute between the companies. The Congolese government announced in August that it had formed a commission to re-evaluate the mine’s reserves and resources in order to “fairly claim (its) rights”. Several Gécamines officials have been named to the commission as the DRC claims it owes it billions of dollars. In February, a… Read More Here
China Molybdenum Hails Progress in African Mine Dispute 9 Copper Cobalt Mining in DRC 

China Molybdenum Hails Progress in African Mine Dispute

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China Molybdenum said “significant progress” had been made on a dispute over the Tenke Fungurume copper and cobalt mine in the Democratic Republic of Congo (DRC). The dispute between China Moly and the Central African nation’s state mining company Gecamines started in August last year when the government formed a commission to reassess reserves and resources at the mine to “fairly lay claims to their rights”. China Moly holds an 80% stake in the mine, while Gecamines holds the remainder. A spokesman for the Congo government, Patrick Muyaya Katembwe, said… Read More Here
China Moly wants third party to resolve Congo mine dispute 10 Copper Cobalt Mining Companies Mining in DRC 

China Moly wants third party to resolve Congo mine dispute

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China Molybdenum Co. endorsed the involvement of an independent third-party to resolve its dispute with Democratic Republic of Congo over new royalty payments for its massive Tenke copper and cobalt mine, according to a statement posted on the company’s website Wednesday. Congo announced Tuesday that state-owned miner Gecamines would suspend its court case against China Moly’s Tenke Fungurume Mining SA while the two sides try to negotiate a deal. Last month, a Congolese court appointed a temporary administrator to run the mine after Gecamines accused China Moly of refusing to share technical information about… Read More Here

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