Cobalt - Copperbelt Katanga Mining

Glencore, Britishvolt sign strategic partnership for long-term supply of cobalt 1

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

Cobalt Copper Mining in DRC

China Moly’s Congo mine expansion project starts trial production

July 19, 2021July 19, 2021 admin

The expansion project of China Molybdenum’s Tenke Fungurume Mining (TFM) mine in Democratic Republic of Congo had started trial production on July 16, the company said in a statement. The expansion project of the TFM mine is expected to produce 88 500 t of copper cathode and 7 280 t of cobalt hydroxide, according to the statement seen by Reuters on Monday. It also has a designed capacity to process 3.3-million tonnes of ore per year, said the Chinese miner. The giant Tenke Fungurume mine, one of the world’s largest… Read More Here

Battery Metals Cobalt Lithium

Lithium-ion batteries need to be greener and more ethical

July 17, 2021July 17, 2021 admin

A low-carbon future rests on an essential, yet also problematic, technology. Lithium-ion rechargeable batteries — already widely used in laptops and smartphones — will be the beating heart of electric vehicles and much else. They are also needed to help power the world’s electric grids, because renewable sources, such as solar and wind energy, still cannot provide energy 24 hours a day. The market for lithium-ion batteries is projected by the industry to grow from US$30 billion in 2017 to $100 billion in 2025. But this increase is not itself… Read More Here

Mining in DRC Cobalt International

UK fraud unit finds alleged bribe network behind cobalt hub

July 16, 2021July 16, 2021 admin

U.K. prosecutors have told Swiss authorities they have proof of an alleged money-laundering ring spanning from Africa to Europe that paid almost $380 million in cash bribes to authorities in the Democratic Republic of Congo. Companies repeatedly bribed officials to further their business interests in the mineral-rich nation, according to the Swiss court judgment that cited information from U.K. prosecutors. Congo is Africa’s biggest producer of copper and supplies about 70% of the world’s cobalt, a critical input for the batteries that power electric vehicles. The $379 million that was… Read More Here

Mining in DRC Cobalt

Congo’s cobalt monopoly to set price floor for artisanal miners

July 16, 2021July 16, 2021 admin

The Democratic Republic of Congo’s state cobalt buyer will put in place a price floor of $30,000 a tonne for the cobalt it buys from artisanal miners, Entreprise Generale du Cobalt (EGC) director-general Jean-Dominique Takis told Reuters. Cobalt, which is trading at around $50,000 a tonne, is used in the batteries that power electric vehicles, sales of which are expected to soar over coming years as the world strives to cut carbon emissions. The world’s top cobalt producer, the Congo set up EGC to buy all artisanal cobalt produced in… Read More Here