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Category: Cobalt

The price of a tonne of Cobalt registers a positive difference of 233 USD this week - DRC 1 Mining in DRC Cobalt 

The price of a tonne of Cobalt registers a positive difference of 233 USD this week – DRC

arnbethnic
The price per ton of Cobalt is expected to rise on the international mining products market during the week of January 17 to 21, 2021. If the projections of experts from the National Mercurial Commission of the Ministry of Foreign Trade show a downward trend for most mining products exported from the Democratic Republic of Congo,Cobalt is an exception this week. This strategic mineral is expected to trade at USD 69,921.00 this week against USD 69,688.00 the previous week, a positive deviation of USD 233. During the same period, Tin… Read More Here
Shalina partners with Trafigura to secure financing for DRC copper/cobalt mine 2 Cobalt Copper Mining in DRC 

Shalina partners with Trafigura to secure financing for DRC copper/cobalt mine

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Dubai-headquartered copper and cobalt miner Shalina Resources and its subsidiary Chemaf have signed a financing and marketing agreement with commodity trader Trafigura. The deal will facilitate new supply of high-grade cobalt hydroxide and copper cathode at a time of growing global demand. Trafigura will syndicate about $600-million of financing to international banks, as well as market all of the cobalt hydroxide produced from the companies’ assets in the Democratic Republic of Congo (DRC). The financing will enable Shalina to complete the construction of its fully mechanised Mutoshi mine and solvent… Read More Here
DRC: cobalt almost at 70,000 USD per ton on the international market 3 Cobalt Copper Gold Mining in DRC 

DRC: cobalt almost at 70,000 USD per ton on the international market

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While the general trend is downward for the main export minerals of the Democratic Republic of Congo, cobalt continues to improve on the international market, according to projections by experts from the National Mercurial Commission of the Ministry of Foreign Trade, which is piloting Jean-Lucien Bussa. Cobalt is trending up this week and is trading at $69,921.00 from $69,688.00 this week, a positive gap of $233. The other mineral on the rise is tin. This ore is trading this week at 40,615 USD against 39,630 USD last week, a positive price… Read More Here
Red Rock receives payment order for VUP project 4 Cobalt Copper Mining in DRC 

Red Rock receives payment order for VUP project

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Natural resource development company Red Rock Resources has obtained an order from the Commercial Court in Lubumbashi, in the Democratic Republic of Congo (DRC), instructing VUP SA, the company’s joint venture (JV) partner in the VUP project, to pay $2.5-million as a principal amount to Red Rock. The company’s claim for interest and damages of $11-million was heard on January 6, with a judgment expected within eight days. As announced in 2019, Red Rock, through its local subsidiary had signed a JV agreement with VUP formalising a JV over certain… Read More Here
Cobalt industry to get a big boost from the shift to a green economy – report 5 Cobalt International Mining in DRC 

Cobalt industry to get a big boost from the shift to a green economy – report

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The global cobalt supply chain is set to remain highly geographically concentrated in the coming years — in the DRC for mine production and in China for refining — which will likely pose procurement challenges for battery manufacturers, market analyst Fitch Solutions finds in its latest industry report. Yet the global cobalt industry is set to receive a significant boost from the worldwide shift to a green economy, Fitch says, as the ferromagnetic blue metal is a key component of rechargeable batteries and valued for its stability, hardness, anti-corrosion and high-temperature resistance characteristics. Used… Read More Here
Sunresin’s Ruashi Cobalt Extraction Project started up in DR Congo 6 Cobalt Mining in DRC 

Sunresin’s Ruashi Cobalt Extraction Project started up in DR Congo

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On December 30, 2021, good news came from the Democratic Republic of Congo in Central Africa. The Ruashi cobalt extraction project undertaken and fully operated by Sunresin was officially put into production and successfully produced the first batch of cobalt products. From project design, skid manufacturing to construction of the plant, equipment installation, on-site and remote commissioning, Sunresin takes charge of the project in a one-stop-shop fashion. The successful commissioning of the project marks a big step for Sunresin, in the spirit of innovation, to carry out comprehensive overseas EPC projects in hydrometallurgy, by overcoming numerous difficulties at… Read More Here
Globally, Cobalt posts a positive price differential of around $ 1,912.15 this week 7 Mining in DRC Cobalt 

Globally, Cobalt posts a positive price differential of around $ 1,912.15 this week

arnbethnic
The prices of the main export merchant mining products of the Democratic Republic of Congo on the international market register an upward trend during the period from 6 to 11 December 2021. Confirming its good positioning in this market for a few weeks, Cobalt should still register an increase on the international market, inform the projections of the experts of the National Mercurial Commission of the Ministry of Foreign Trade. During this week, Cobalt will trade around $ 63,145.00 per tonne versus $ 61,232.85 per tonne last week, yielding a… Read More Here
Kamoa-Kakula Phase 2 Expansion Now 70% Complete, on Track for Early Start-up in Q2 2022 8 New Mining Projects Cobalt Copper Mining in DRC 

Kamoa-Kakula Phase 2 Expansion Now 70% Complete, on Track for Early Start-up in Q2 2022

arnbethnic
Record copper production in November tops 18,270 tonnes, bringing year-to-date production to more than 87,000 tonnes as at November 30, 2021 Earthworks commenced for a new box cut to access Phase 3 mining areas; Phase 3 concentrator targeted by end of 2024 Engineering for Kamoa Copper’s direct-to-blister smelter underway; long-lead items for smelter to be ordered in Q2 2022 Mining crews deliver a record 548,000 tonnes of ore grading 5.46% copper in November, including 362,000 tonnes grading 6.60% copper from the centre of the Kakula Mine Record mining production in… Read More Here
Market: Cobalt jumps to over 63,000 USD per tonne this week from December 6 to 11, 2021 9 Cobalt Copper Gold Mining in DRC Zinc 

Market: Cobalt jumps to over 63,000 USD per tonne this week from December 6 to 11, 2021

admin
The market for merchant mining products for export from the Democratic Republic of the Congo is improving this week from December 6 to December 11, 2021, according to projections by experts from the National Mercurial Commission of the Ministry of Foreign Trade, which is piloted by the Minister Jean-Lucien Bussa. Cobalt remains higher and is trading this week around $ 63,145.00 per tonne versus $ 61,232.85 per tonne last week, showing a positive price differential of $ 1,912.15. Copper is also trending upward to $ 9,752.00 per tonne versus $… Read More Here
Congo State cobalt monopoly aims to start buying in January 10 Cobalt Mining in DRC 

Congo State cobalt monopoly aims to start buying in January

admin
Democratic Republic of Congo’s state cobalt monopoly plans to start buying artisanal cobalt in January, its CEO Jean-Dominique Takis said in an interview at the Reuters Next conference, as the world’s biggest producer of the metal tries to ramp up revenue. Cobalt, which is trading at around $62 000 a tonne, is used in many of the batteries that power electric vehicles, sales of which are expected to soar as the world strives to cut carbon emissions. The Congo set up Entreprise Generale du Cobalt (EGC) to buy, process, and market all the artisanal… Read More Here

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