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DRC: copper goes from 10,045 USD to 9,867 USD per ton this week

November 8, 2021November 8, 2021 admin

The general trend for export merchant mining products from the Democratic Republic of the Congo is down this week, from November 8 to 13, 2021, on the international market in light of projections by experts from the National Mercuriales Commission, reports a press release signed by the Minister of Foreign Trade, Jean-Lucien Bussa Tongba. Only cobalt shows an uptrend. It is trading this week at $ 55,749 per ton, this week versus $ 55,695 per ton last week, a positive price spread of $ 53. Copper is down this week to… Read More Here

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The commodity boom is starting to push battery prices higher

November 5, 2021November 5, 2021 admin

The world’s biggest battery market is showing the strain of surging commodity prices. Chinese manufacturer Gotion High-tech Co. sent a letter to customers in mid-October seeking to adjust battery prices, citing a jump in the cost of cathode materials and electrolyte to copper and aluminum foil. The company said it “has tried its best to reduce the cost impacts but with little effect.” Gotion’s move underscores a key hurdle the world faces in its transition to cleaner, greener energy sources. Electric-vehicle sales have soared as companies were able to make… Read More Here

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Tesla, Apple, Google, Microsoft dodge Congo cobalt class-action

November 4, 2021November 4, 2021 admin

Google parent Alphabet, Apple, Dell, Microsoft and Tesla won’t have to face a class action suit claiming the tech giants bear responsibility for the alleged use of child labour in Congo to mine cobalt, a key ingredient of batteries in electric cars and consumer electronics, a federal court in Washington ruled Tuesday. An NGO called International Rights Advocates launched the suit in December 2019, on behalf of more than a dozen families of children killed or hurt in the artisinal cobalt mines in the Congo, responsible for more than two-thirds… Read More Here

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Market: This week, copper is trading at USD 10,045 per tonne, cobalt at USD 55,695 per tonne

November 2, 2021November 2, 2021 admin

The general price trend of the main mining products of the DRC is up this week on the international market, according to projections by the Commission Nationale des Mercuriales, a structure of the Ministry of Foreign Trade. Among the commodities that are on the rise is cobalt which is trading this week at $ 55,695 per tonne versus $ 55,449 per tonne last week, a positive price spread of $ 146. Tin is also trending upward at $ 38,974 per tonne this week versus $ 38,730 per tonne last week,… Read More Here

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Gridlock Congo Mining, (Sarlu GSM), to soon invest in the industrialization of the mining sector in the DRC

October 31, 2021October 31, 2021 arnbethnic

This information was delivered on Tuesday, October 27, 2021 by Raphaël Kibasa Maliba, representative of GSM in the DRC who led a delegation of this company to the Minister of Mines Antoinette N’Samba Kalambayi. The visit of this company to the ministry and mines was motivated by the work done for the recovery of the sector by the number 1 of mines, Antoinette N’Samba Kalambayi. This is what enabled GSM SARLU to make a firm commitment to investment in the DRC, more particularly in the valuation of mining products in particular:… Read More Here

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Glencore expects trading division to beat 2021 guidance

October 29, 2021October 29, 2021 admin

Miner and trader Glencore on Friday said it expects 2021 earnings before interest and tax (EBIT) for its trading division to top its $2.2 billion to $3.2 billion long-term guidance but stuck to its production guidance. High prices for coal and other commodities are helping miners despite lower production in some cases, while volatile prices have offered trading opportunities. Glencore reported a 9% drop in coal production for the first nine months of the year due to its Prodeco mines in Colombia being suspended and lower domestic production in South Africa. CEO Gary… Read More Here

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DRC: Fungurume Mining has driven out more than 70% of Congolese subcontractors for the benefit of Chinese workers

October 28, 2021October 28, 2021 admin

In his conclusion on the oral question with debate addressed to the Minister of Entrepreneurship, Small and Medium Enterprises, the deputy Paul Ilunga Nkulu noted some cases of violations in the mining sector of the law relating to the rules of subcontracting in the private sector, the subject of his question to Minister Eustache Muhanzi. It was at the end of the minister’s hearing during the plenary of this Wednesday, October 27 at the national assembly. Among these cases, the deputy notably indexed the company Tenke Fungurume Mining (TFM), which… Read More Here

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DRC: Ivanhoe Mines will publish its financial results for the 3rd quarter / 2021 on November 15

October 25, 2021October 25, 2021 admin

Ivanhoe Mines will release its financial results for the third quarter of 2021 before market opens on Monday, November 15, 2021, a company statement reported. Management will host a conference call and webcast to discuss the results on the same day. Ivanhoe Mines is a Canadian mining company focused on advancing its three main projects in southern Africa: the development of new major mechanized underground mines at the Kamoa-Kakula copper joint venture in the Democratic Republic of the Congo and at Platreef palladium-rhodium -la discovery of platinum-nickel-copper-gold in South Africa; and… Read More Here

Cobalt International Mining in DRC

Top 10 cobalt operations outside of China and the DRC

October 22, 2021October 22, 2021 admin

The global cobalt supply chain remains geographically concentrated — in the Democratic Republic of Congo (DRC) for mine production and China for refining — which will likely pose procurement challenges for battery manufacturers, market analyst Fitch Solutions finds in its latest industry report. However, Fitch notes that there is currently a solid global project pipeline, due to the rise in cobalt prices and the expected demand boom amidst battery manufacturing projects, which will aim to diversify, to some extent, production channels. Cobalt is primarily the byproduct of nickel and copper mining, and the global… Read More Here

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Dutch Insurer AnsvarIdéa joins Fair Cobalt Alliance

October 21, 2021October 21, 2021 admin

Netherlands-based insurer AnsvarIdéa has become a member of the Fair Cobalt Alliance (FCA), a multistakeholder action platform that is committed to developing responsible and fair supply of artisanal mined cobalt from the Democratic Republic of Congo (DRC). AnsvarIdéa is the first company to join the FCA that is not directly involved in the cobalt production supply chain. Dr Assheton Carter, executive director at the FCA, commented: “AnsvarIdéa can be proud to be the first company outside the immediate cobalt supply chain and the first insurer to join and support us.… Read More Here