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Category: Cobalt

Congo copper sales increase 10% in H1, cobalt up 15% 1 Cobalt Copper Mining in DRC 

Congo copper sales increase 10% in H1, cobalt up 15%

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Copper sales in Democratic Republic of Congo rose 10% in the first half of 2021 compared to the same period last year, while cobalt sales climbed 15%, the mines ministry said on Tuesday. Exports and local sales of copper stood at 871,956 tonnes, while sales of cobalt were recorded at 44,654 tonnes, the ministry said in a report. Congo is Africa’s top copper producer and the world’s leading miner of cobalt, which is used in batteries for electric cars and electronic products. The country registered record copper production in 2020… Read More Here
Cobalt producers in race to cover the growing supply gap – report 2 Cobalt International Mining in DRC 

Cobalt producers in race to cover the growing supply gap – report

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The exponential demand growth for cobalt is placing pressure on producers to increase supplies to cover the growing supply gap as electric vehicle (EV) penetration rates in auto production rise above 50% by 2030, new analysis by Bank of America Global Research has found. The bank’s Global Commodity Research team suggests three routes to bridging the supply gap: production increases at miners and refiners; improved processing technology; and recycling. THE RISK OF COBALT SHORTFALLS COULD TURN INTO A CONSTRAINT TO EV BATTERY PRODUCTION IN THE COMING YEARS Sibanye-Stillwater (JSE: SSW), which… Read More Here
DRC: Gécamines-Société minière du Katanga contract, a misinterpretation fuels intoxication 3 Mining in DRC Cobalt Copper Mining Companies 

DRC: Gécamines-Société minière du Katanga contract, a misinterpretation fuels intoxication

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Crazy speculation is observed on the web around a controversial interpretation of the nature of the contract between Gécamines and the Société minière du Katanga. At the heart of the media boom: the widely circulated rumor accusing Gécamines of having sold a copper and cobalt mine at a low price to the Société minière du Katanga -Somika-, for 23 years of operation. A transaction that would have been negotiated for a modest sum of 10 million US dollars. That these allegations are false, retort experts close to Gécamines. They take as proof… Read More Here
Market: copper and cobalt prices down this week from August 30 to September 4, 2021 (Mercuriales) 4 Cobalt Copper Mining in DRC 

Market: copper and cobalt prices down this week from August 30 to September 4, 2021 (Mercuriales)

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The main export mining products of the Democratic Republic of the Congo show a downward trend this week from August 30 to September 4, 2021, according to projections by the National Mercuriales Commission of the Ministry of Foreign Trade. Copper is trading at $ 9,079.90 per tonne this week from $ 9,416.50 per tonne last week, a negative price spread of $ 336.6. Same negative trend for cobalt which is trading around $ 51,186.00 per tonne this week versus $ 52,205.00 per tonne last week, leaving a negative price spread… Read More Here
DRC: Entreprise Générale du Cobalt still not operational 4 months after its official launch 5 Cobalt Mining in DRC 

DRC: Entreprise Générale du Cobalt still not operational 4 months after its official launch

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The Congolese government, in order to improve the conditions of artisanal miners, created the Entreprise Générale du Cobalt (EGC) by decrees 19/15 and 19/16 of November 5, 2019. EGC, as a subsidiary of Gécamines now has a monopoly on the purchase, treatment, transformation, sale and exploitation of cobalt in the Democratic Republic of the Congo. It is within this framework that EGC signed a financing agreement with the international firm Trafigura which will support the company, from the production of Cobalt to sale to end buyers. “By decreeing a monopoly… Read More Here
Jubilee Metals surges 12% on new Zambian processing capacity 6 Copper Cobalt Mining in Zambia 

Jubilee Metals surges 12% on new Zambian processing capacity

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Mining outfit Jubilee Metals (JLP:AIM) gained 12.4% to 15.35p as it effectively secured the missing processing capacity to take it to the 25,000 tonnes per year of copper production it has been targeting in Zambia. Today’s gain takes the one-year advance for Jubilee shares to nearly 190% as it moves closer to taking full advantage of its opportunities in Zambia. In its own words, Jubilee focuses on ‘the retreatment and metals recovery from mine tailings, waste, slag, slurry and other secondary materials generated from mining operations’. The company has agreed a venture with Mopani Copper Mines… Read More Here
Congo initiates probe into China Moly’s Tenke Fungurume mine 7 Cobalt Copper Mining in DRC 

Congo initiates probe into China Moly’s Tenke Fungurume mine

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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
Explorations Manager Career Cobalt Copper Mining in Zambia New Mining Projects 

Chillerton advances Zambian copper-cobalt projects

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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
DRC: Roskill predicts the evolution of the cobalt sector towards an oligopoly by 2025 8 Cobalt Mining in DRC 

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

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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
DRC: copper and cobalt show a downward trend in the market in the period from August 16 to 21, 2021 9 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

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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

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