Cobalt - Copperbelt Katanga Mining

DRC: downward trend in metal export prices on the market from June 26 to July 3, 2021 (Mercuriale) 1

The main export metals from the Democratic Republic of the Congo show a downward trend in their prices in the period from June 26 to July 3, 2021 compared to the prices recorded a week before this period, inform the data of the National Commission of Mercurials of price, a structure attached to the Ministry of Foreign Trade. Copper prices this week are estimated at $ 9,237.20 per tonne compared to $ 9,759.60 in the period June 21-26, either a deviation of -522.4 $ or a downtrend. The same is… Read More Here

Mining in DRC Cobalt Copper New Mining Projects

Glencore to reopen one of world’s biggest cobalt mines

June 22, 2021June 22, 2021 admin

Glencore Plc could reopen its Mutanda Mining copper and cobalt project in Democratic Republic of Congo by the end of 2021, about two years after idling the mine. Congo’s new mines minister, Antoinette N’Samba Kalambayi met with representatives from the Swiss company Monday to discuss the restart of the mine, which closed in November 2019, the ministry said in a statement sent to reporters. Mutanda “will start the commissioning of operations towards the end of this year in order to allow the return to production in 2022,” Glencore said in a separate emailed statement. A… Read More Here

Cobalt Mining in DRC

Cobalt ‘bubble’ will burst, Ivanhoe exec in Congo says

June 15, 2021June 15, 2021 admin

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. Congo holds more than half the world’s cobalt reserves, but the market’s negative perception of the central African nation’s business climate means companies will soon find alternative ways to create the power needed for the green energy revolution, Louis Watum of the Federation des Entreprises du Congo told a virtual conference on Monday. “I’m not a fan… Read More Here

Cobalt International Mining in DRC

Cobalt prices flat despite temporary DRC export ban

June 3, 2021June 3, 2021 admin

Global cobalt prices were steady yesterday, as market participants shrugged off a temporary ban on exporting cobalt and copper concentrate from the Democratic Republic of Congo (DRC). European prices for cobalt metal were assessed unchanged yesterday at $19.80-20.50/lb du Rotterdam for chemical and alloy grades. Chinese domestic prices were also stable at Yn334-365/kg ($52-57/t) ex-works, while cobalt hydroxide prices held at $18-19/lb cif China amid muted spot trading activity. Market participants have been largely unphased by the DRC government’s announcement last week that it would ban exports of copper and… Read More Here

Copper Cobalt Mining in DRC

Market fears tighter copper and cobalt supply if DRC enforces concentrate export ban

June 1, 2021June 1, 2021 admin

The Democratic Republic of the Congo has reinstated an export on copper and cobalt concentrates, but will allow mining companies that hold exemptions to continue their shipments. Congo Kinshasa, the world’s largest producer of cobalt and Africa’s largest copper miner, banned concentrate exports in 2013 to encourage miners to process and refine the ore locally. However, insufficient fusion capacity has prompted the Congolese government to issue waivers on several occasions. In August last year, the Mining Ministry granted an unlimited moratorium on all mineral exports, except copper concentrate, pending talks with miners.… Read More Here

Battery Metals Cobalt Mining in DRC

Electric vehicle market will help double global demand for cobalt by 2025 (Glencore)

May 31, 2021May 31, 2021 admin

Electric vehicles are one of the most popular ways around the world to reduce the carbon footprint of transport. The boom in this sector will logically increase the demand for cobalt, a metal used for the production of batteries for these vehicles. The world market for cobalt is expected to grow from an annual demand of 120 to 130,000 tonnes currently, to a demand of 240 to 260,000 tonnes by 2025. At least that is what Mining Weekly reports, quoting David Brocas, manager. of cobalt trading at the Swiss giant Glencore.… Read More Here

Cobalt Copper Mining in DRC

DRC concentrate export ban may tighten global copper, cobalt supply

May 31, 2021May 31, 2021 admin

The Democratic Republic of Congo has reinstated an export ban on copper and cobalt concentrated but will allow mining companies that hold waivers to continue with shipments. Congo, the world’s no.1 cobalt producer and Africa’s biggest copper miner, banned exports of concentrates in 2013 to encourage miners to process and refine the ore locally. Insufficient smelting capacity, however, has driven the Congolese government to repeatedly issue waivers. In August last year, the mining ministry granted an indefinite moratorium for all minerals exports, except copper concentrate, pending discussions with miners. The… Read More Here

Mining in DRC Cobalt Copper

Drilling programme imminent at Luanshimba – DRC

May 28, 2021May 28, 2021 admin

AIM-listed Red Rock Resources will soon begin a drilling programme at its Luanshimba License in the Democratic Republic of Congo (DRC), which contains copper and cobalt targets. Red Rock resources owns 80% of the Luanshimba project, which is situated 65 km south-east of the provincial capital of Lubumbashi in Haut-Katanga, in a 420 hectare prospecting license in the Congolese Copperbelt. Rubaco SARL have been engaged to carry out a 2 000m Reverse Circulation drill programme comprising 20 holes, with an option to extend to 3 000 m Progressing Luanshimba has been… Read More Here

Cobalt Copper Mining in DRC

DRC bans export of cobalt, copper concentrate – Fastmarkets

May 28, 2021May 28, 2021 admin

An order sent to miners in the Democratic Republic of Congo (DRC) on Wednesday has banned the export of copper and cobalt concentrate, according to Fastmarkets. The data provider said it confirmed with three companies operating copper and cobalt mines in DRC that they all received the notice, signed by Bernard Bosele Pilipili the provincial director of Customs and Excise in the Katanga province of DRC. At present, the trucks carrying copper and cobalt concentrate could still pass through the border, and the effective date of the order is not mentioned,… Read More Here

Cobalt Copper Gold Mining in DRC Tin Zinc

World: The price of a gram of gold settled at 59.80 USD on weekdays (official)

May 27, 2021May 27, 2021 admin

The price of a gram of gold saw a marked improvement in the international market during the week of May 24-29, 2021, trading at $ 59.80 versus $ 57.66 in the week of May 17-22, 2021. These indications on the trend of commercial mining products were revealed in a press release on Wednesday, May 26, 2021, by the Congolese Ministry of Foreign Trade. The same document informs that Silver and Tantalum are also experiencing a price rise in the international market during the same period, trading at $ 0.90 vs.… Read More Here