Cobalt - Copperbelt Katanga Mining

DRC:EGC to purchase 7,000 tonnes of cobalt from artisanal miners for a value of USD 150 million 1

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

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

Cobalt Mining in DRC

Congo likely to start artisanal cobalt buying within eight weeks

July 12, 2021July 12, 2021 admin

The Democratic Republic of Congo is expected to start buying cobalt from artisanal miners within eight weeks as it aims to become the only legal buyer from miners in the informal sector. The government is looking to capitalise on soaring demand for rechargeable lithium-ion batteries for electric vehicles and to curb illegal exports which strip the state of needed tax revenue. It is also aiming to end unsafe working practices and child labour. Artisanal miners extract cobalt by hand in precarious conditions, often working on illegal or only semi-regulated sites.… Read More Here

Cobalt Copper International

DRC: copper and cobalt keep their prices up this week (Mercuriales Min. Commerce Ext.)

July 12, 2021July 12, 2021 admin

Almost all of the Democratic Republic of the Congo’s export commodities are showing rising prices this week on the international market, according to forecasts by the National Mercuriales Commission of the Ministry of Foreign Trade for the period from 12 to 17. July 2021. Copper is trading this week on the international market at $ 9,431.90 per tonne against $ 9,353.40 last week, a positive price differential of $ 78.5, according to Mercuriales forecasts from the Congolese Ministry of Foreign Trade. The same is the case for cobalt which will… Read More Here

Battery Metals Cobalt Drilling

Ivanhoe Mines executive says DRC cobalt bubble will burst

July 7, 2021July 7, 2021 admin

Democratic Republic of Congo’s Chamber of Mines President Louis Watum predicts the cobalt bubble will burst with the rise of new battery technology The demand for cobalt is a bubble that will burst as new battery technology reduces the need for the metal, according to the head of the chamber of mines in the Democratic Republic of Congo. Democratic Republic of Congo is home to more than half the world’s cobalt resources Congo holds more than half the world’s cobalt reserves, but the market’s negative perception of the central African… Read More Here

Cobalt Copper Equipment & Technology Mining in DRC

TAKRAF South Africa supplies two apron feeders to DRC copper-cobalt mine

July 7, 2021July 9, 2021 admin

Highlighting the ongoing demand for TAKRAF apron feeders, key equipment supplier TAKRAF South Africa, part of the global TAKRAF Group, has supplied two machines for a leading copper/cobalt mining operation in the Democratic Republic of Congo (DRC). The order was carried out during challenging COVID-19 pandemic conditions, with installation and commissioning assistance provided remotely due to travel restrictions. The TAKRAF apron feeders, which are being installed in two new crushing stations at the mine, are 1,830 mm wide by 11.2 m long (18° incline) and feed copper/cobalt ore at 1,200… Read More Here

Cobalt Copper International Mining in DRC Zinc

DRC: prices of copper, cobalt and zinc, up this week.

July 5, 2021July 5, 2021 admin

The main export minerals from the Democratic Republic of the Congo are on the rise this week, from July 5 to July 10, on the international market, according to forecasts by the National Commission of Mercurials, a service attached to the Ministry of Foreign Trade. Copper is trading this week at $ 9,353.40 per tonne versus $ 9,237.20 in the June 26-July 3, 2021 period, a price hike of $ 116.2, according to the National Commission forecast. mercurials. Likewise, cobalt is trending upward this week and is selling at $… Read More Here