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Category: Cobalt

DRC: NGO NRGI invites the Government to observe good governance to take advantage of the Cobalt market 1 Cobalt Mining in DRC 

DRC: NGO NRGI invites the Government to observe good governance to take advantage of the Cobalt market

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The NGO Natural Resource Governance Institute (NRGI) recommends to the Government of the Democratic Republic of Congo (DRC), to put in place a policy of good governance in the mining sector in order to allow the population to benefit from the repercussions of the Cobalt market. This non-governmental organization issued this opinion during a press briefing organized on Saturday March 26, 2022, in Kinshasa. For this NGO, the DRC is in a unique position, but limited in time: “cobalt, of which it has the largest deposits in the world, is… Read More Here
MMG commits to $600m DRC cobalt expansion 2 Copper Cobalt Mining in DRC 

MMG commits to $600m DRC cobalt expansion

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Base metals miner MMG has approved a $500-million to $600-million expansion of its Kinsevere operation in the Democratic Republic of Congo (DRC), extending the mine life for at least another 13 years. The Kinsevere expansion project will bring yearly production of copper cathode up to 80 000 t and between 4 000 t and 6 000 6 of cobalt in cobalt hydroxide. Construction will start in 2022 with first cobalt production is expected in 2023. First copper cathode production from the sulphide orebody is expected in 2024 with the mine to continue production of copper cathode from the remaining oxide orebody… Read More Here
DRC: here are the production figures in the primary sector in 2020 (BCC report) 3 Cobalt Copper Diamond Mining in DRC Zinc 

DRC: here are the production figures in the primary sector in 2020 (BCC report)

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The Central Bank of Congo published its annual report for the 2020 financial year this week. This document presents the quintessence of the economic activity of the country and the financial and administrative situation of the Bank as a company. DESKECO relays here the production figures in the primary sector. Indeed, according to the data in this report, in 2020, economic activity in the primary sector grew by 7.1% against 1.7% in 2019. Its contribution to growth was 3.1 points coming from 0.8 points the previous year. This change is mainly due… Read More Here
World: on the rise, Cobalt goes from 75,521.25 to 78,277.50 USD on the international market this week 4 Mining in DRC Cobalt 

World: on the rise, Cobalt goes from 75,521.25 to 78,277.50 USD on the international market this week

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The prices of the main mining products exported from the Democratic Republic of Congo (DRC) are showing an upward trend on the international market for the week from March 14 to 19, 2022. According to projections by experts from the National Commission for Mercurial Prices, a service attached to the Ministry of Foreign Trade, the tonne of Cobalt should register an increase of around 2,756.25 USD during the period under analysis. The ton of Cobalt is expected to fall from 75,521.25 USD last week to 78,277.50 USD per ton this… Read More Here
The need for a fair resolution to the conflict between the shareholders of Tenke Fungurume (Cobalt litigation) 5 Mining in DRC Cobalt Copper 

The need for a fair resolution to the conflict between the shareholders of Tenke Fungurume (Cobalt litigation)

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Resources Matters advocates for a fair and transparent outcome to the conflict that has pitted Congo against one of its largest investors, China Molybdenum, for more than six months, over financial compensation for Tenke Fungurume Mining’s copper-cobalt reserves.   Earlier last week, a Congolese court appointed an interim administrator to lead Tenke Fungurume Mining (TFM) for the next six months, according to The New York Times and court documents seen by Resource Matters. TFM is one of the largest mining projects in the Democratic Republic of Congo and the world’s second largest producer… Read More Here
Copper at more than 10,500 USD per ton during this week from March 14 to 19, 2022  6 Copper Cobalt Mining in DRC 

Copper at more than 10,500 USD per ton during this week from March 14 to 19, 2022 

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The prices of the main export minerals of the DRC mainly show an upturn on the international market in the week from March 14 to 19, 2022, according to projections by experts from the National Mercurial Commission, a service attached to the Ministry of Foreign Trade in Democratic Republic of Congo. In this perspective, copper, the main export material of the DRC, is trading this week at 10,529 USD per ton against 9,957.40 USD ton last week, generating a positive price difference of 576 USD. Cobalt is also up this… Read More Here
DRC: African Energy Metals lands major interests following an agreement reached with WCM in a mining project in Manono 7 Mining in DRC Cobalt Mining Companies 

DRC: African Energy Metals lands major interests following an agreement reached with WCM in a mining project in Manono

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The mining junior African Energy Metals, a company based in Vancouver and listed on the TSXV in Canada, announced that it had reached an agreement with Whiskey Cobalt Mining (WCM) which sells to it, subject to positive due diligence and obtaining regulatory approvals, its interests in a mining concession located in Manono, province of Tanganyka in the DRC. According to inside sources, the transaction in question gives African Energy Metals the possibility of creating a 50-50 joint venture with the local company Liberty Mining and Investments Sarl. In return, it will… Read More Here
DRC: PABEA-Cobalt identifies 14,850 children and 6,250 young people in mining areas in Haut-Katanga and Lualaba 8 Mining in DRC Cobalt 

DRC: PABEA-Cobalt identifies 14,850 children and 6,250 young people in mining areas in Haut-Katanga and Lualaba

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About 14,850 children (girls and boys) and their parents as well as 6,250 young people are involved in the Cobalt supply chain in the provinces of Lualaba and Haut-Katanga. These figures are revealed by the Congolese Government through the Support Project for the Alternative Welfare of Children and Youth Involved in the Cobalt Supply Chain (PABEA-Cobalt). This, after an identification mission carried out on the ground in the two provinces. Funded by the African Development Bank Group (AfDB) aims to achieve zero children in artisanal cobalt mines and mining sites. According… Read More Here
DRC: for Adolphe Muzito, the cobalt mine agreement with China was an "injustice", the country got nothing 9 Mining in DRC Cobalt 

DRC: for Adolphe Muzito, the cobalt mine agreement with China was an “injustice”, the country got nothing

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The former Prime Minister and Executive of the Lamuka Coalition, Adolphe Muzito, spoke about the contract signed between the Congolese government and Sicomines. For him, the Congolese feel aggrieved by the mega-mineral infrastructure deals involving cobalt – a key component of electric vehicle batteries through Sicomines’ $6 billion deal with Chinese companies, and the alleged under-reporting by China Moly of reserves at the giant Tenke mine. Indeed, while a good part of the world’s countries use the Democratic Republic of Congo to electrify their cars thanks to the supply of… Read More Here
African Energy Metals to acquire Whiskey Cobalt Mining’s stake in Manono project 10 Cobalt Mining in DRC 

African Energy Metals to acquire Whiskey Cobalt Mining’s stake in Manono project

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TSX-V-listed African Energy Metals has acquired Whiskey Cobalt Mining’s (WCM’s) interest in the Manono tin, tantalum and lithium project, in the prolific Manono area in the Tanganyika province of south-east Democratic Republic of Congo. The disposal by WCM of the project, comprising an exploitation permit covering about 30 km2, will involve WCM assigning African Energy Metals an exclusive option agreement with Liberty Mining and Investments to enter both parties into a 50:50 joint venture on the project. The Manono concession is about 90 km northeast of Manono in Kiambi, and… Read More Here

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