Cobalt - Copperbelt Katanga Mining

Congo initiates probe into China Moly’s Tenke Fungurume mine

August 23, 2021August 23, 2021 admin

The Democratic Republic of Congo established a commission to ensure China Molybdenum Co. is complying with its contractual obligations regarding the giant Tenke Fungurume copper and cobalt project. The office of President Felix Tshisekedi authorized the investigation earlier this month into CMOC’s mineral reserve data and the financing costs for the project, according to documents seen by Bloomberg News and verified by the presidency. CMOC on Aug. 6 announced a $2.5 billion investment to more than double production at the mine, which is already one of the world’s biggest sources of cobalt,… Read More Here

Cobalt Copper Mining in Zambia New Mining Projects

Chillerton advances Zambian copper-cobalt projects

August 20, 2021August 24, 2021 admin

Chillerton Group, an emerging copper and cobalt development company, has become one of the largest license holders in the Zambian Copperbelt after it was recently awarded a further three large scale mining (LSM) licences in the country. Founded in 2000, Chillerton is an integrated upstream and downstream mining company. It undertakes exploration, mine development, capital raising and development planning at sites across the Zambian Copperbelt. The company’s licenses now cover in excess of 20 000 ha and are located adjacent to existing producing copper mines. The location benefits from good… Read More Here

Cobalt Mining in DRC

DRC: Roskill predicts the evolution of the cobalt sector towards an oligopoly by 2025

August 20, 2021August 20, 2021 admin

By 2025, the three main cobalt miners in the Democratic Republic of Congo (DRC) could supply more than half of the world market, according to information provided by sector analysis firm Roskill through a note that it published last week. In the said briefing note, Roskill indicates that the DRC cobalt sector is expected to be more dominated by existing large producers and evolve into an oligopoly in the near future. Analysts at the Roskill firm explain this prediction by the fact that miners must increasingly turn to underground mining,… Read More Here

Copper Cobalt Mining in DRC Zinc

DRC: copper and cobalt show a downward trend in the market in the period from August 16 to 21, 2021

August 18, 2021August 18, 2021 admin

Almost all of the Democratic Republic of the Congo’s export raw materials are down during the period from August 16 to 21, 2021, according to forecasts by the National Mercuriales Commission, a structure of the Ministry of Foreign Trade. Copper is experiencing a price drop of around $ 272.7 trading at $ 9,436.50 per tonne this week from $ 9,709.20 per tonne last week. Cobalt is also down $ 39, trading at $ 52,371.00 per tonne this week from $ 52,410.00 per tonne last week. Zinc is also trending lower… Read More Here

Cobalt International

Glencore, Britishvolt sign strategic partnership for long-term supply of cobalt

August 17, 2021August 17, 2021 admin

Diversified mining and marketing company Glencore has entered into a long-term strategic partnership to supply UK-based lithium-ion battery cell technologies investor Britishvolt with responsibly sourced cobalt. The partnership represents a major milestone for Britishvolt on its quest to assist vehicle original equipment manufacturers with their roadmaps to electrification. By securing one of the key battery ingredients from the Glencore cobalt brands, Britishvolt is significantly derisking its operation by obtaining long-term security of supply across its business, Glencore says in a statement. “We are delighted to be partnering with Britishvolt, a… Read More Here

Mining in DRC Cobalt Copper Gold Zinc

DRC: copper up to 9,700 USD per tonne this week (Mercuriales)

August 9, 2021August 9, 2021 admin

The main export mining products of the Democratic Republic of the Congo oscillate between an upward and downward trend during this week from August 9 to 14, 2021, according to projections by the National Commission of Mercurials, structure of the Ministry of Foreign Trade. Copper is trading this week at US $ 9,709.20 per tonne on the international market against US $ 9,560.40 per tonne last week, showing a positive price differential of US $ 148.8, according to projections by experts from the Ministry of DRC foreign trade. For the… Read More Here

Cobalt Copper Mining in DRC

China Moly to spend $2.5bn to double copper, cobalt output at Congo mine

August 6, 2021August 6, 2021 admin

China Molybdenum will invest $2.51 billion to double copper and cobalt production at its giant Tenke Fungurume mine (TFM) in the Democratic Republic of Congo. The project, expected to be completed and online in 2023, includes building three ore production lines. They are forecast to rise average annual copper output at the mine by 200,000 tonnes and increase cobalt output by 17,000 tonnes, the company said in a filing to the Shanghai Stock Exchange. China Moly started in July trial production at a separate expansion at the mine, which is slated to produce 88,500 tonnes of copper cathode and 7,280 tonnes of cobalt hydroxide. It also has a designed capacity to process 3.3 million tonnes of… Read More Here

Cobalt Covid-19

Civil unrest in South Africa, covid-19 may push cobalt prices up — report

July 31, 2021July 31, 2021 admin

Civil unrest in South Africa, a third wave of covid-19 and supply curbs in the Democratic Republic of Congo may push cobalt prices up to $25 per pound through 2021 from the current average of $23.94 per pound, according to a new report published by Fastmarkets. Author William Adams, head of commodity markets research, believes that continued protests in South Africa — a major transportation route for cobalt mined in the DRC — may hinder miners’ ability to deliver their product to international customers, thus affecting supply. More than 70 people… Read More Here

Cobalt Copper International Mining in DRC

Glencore records ‘modest’ cobalt production boost

July 31, 2021August 2, 2021 admin

Glencore’s zinc, cobalt and copper production rose “modestly” in the first half of the year, compared to the same period in 2020, as operations recovered from Covid-related suspensions. Copper production rose 2% to 598,000 tonnes, while zinc output increased by 6% or 31,700 tonnes to 581,800 tonnes. Glencore produced 13,000 tonnes of cobalt from its own sources in the first half of the year, a 4% rise or 500 tonnes compared to the same period last year. The cobalt figure includes 1,100 tonnes of material sourced from its shuttered Mutanda… Read More Here

Cobalt Mining in DRC

DRC:EGC to purchase 7,000 tonnes of cobalt from artisanal miners for a value of USD 150 million

July 22, 2021 admin

The General Cobalt Company (EGC) plans to purchase 7,000 tonnes of cobalt from artisanal miners, for an aggregate value of US $ 150 million (USD). The ton will trade at 30,000 USD. This is part of EGC’s first purchases from artisanal miners. According to internal EGC sources, the Kasulo mining site, near Kolwezi in Lualaba province, was chosen for the first purchases. The source indicates that the purchased cobalt ore will be transformed into cobalt hydroxide at nearby processing facilities, before being exported, notably through the company Trafigura, under the terms of… Read More Here