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DRC: the CNPAV estimates past losses of GECAMINES in its shares and royalties within Mutanda Mining from 2011 to 2020

May 13, 2021May 14, 2021 admin

Congo is not for sale (CNPAV) estimated the DRC’s past losses in its shares and royalties, in one of the country’s largest mining companies, “Mutanda Mining”, at more than one billion euros. US dollars (1,035,000,000 USD), from March 2011 to December 2020. This is revealed by the report of this civil society platform entitled: “Billions lost: financial investigation into Dan Gertler’s transactions in the sector extractif ”, published Wednesday, May 13 in Kinshasa. Mutanda has been in the top 3 of the largest mining companies in the DRC for most… Read More Here

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Glencore boss warns of future China dominance in electric vehicles

May 13, 2021May 13, 2021 admin

The car industry in the US and Europe risks being left behind by their Chinese rivals unless they secure supplies of cobalt, according to the world’s biggest producer of the key battery metal. Glencore chief executive Ivan Glasenberg told the FT Future of the Car Summit on Wednesday that western carmakers would be naive to think they could always rely on China to supply the batteries for electric vehicle fleets. Glasenberg said Chinese companies had been quick to realise the vulnerability of their supply chains and “tied up” lots of… Read More Here

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Gertler mining deals could cost Congo $1.76bn in royalties – activists

May 13, 2021May 13, 2021 admin

Congo could lose out on $1.76-billion in potential royalty payments from its copper and cobalt mining deals with Israeli mining magnate Dan Gertler, an anti-corruption group said on Wednesday, calling on the government to open an investigation. The US Treasury sanctioned Gertler and more than 30 of his businesses in December 2017 and June 2018, accusing him of leveraging his friendship with former Congo President Joseph Kabila to secure lucrative mining deals. Gertler has denied any wrong doing. Using data including recently published contracts on the mining ministry website, the campaign group Congo is… Read More Here

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Copper, cobalt, lithium, nickel & tin, among the materials that will dominate the green and digital transition

May 10, 2021May 10, 2021 admin

A new report from Fitch Solutions predicts that certain “conventional” raw materials will receive an additional boost over the next 20 years, as they take center stage in green and digital transitions. These products include copper, nickel, tin, aluminum and rare earths which, along with lithium and cobalt, are expected to experience a boom in demand over decades in the midst of the battery revolution. . “While the ‘traditional’ base metal mining and refining sectors such as copper, nickel, tin and aluminum are well established, we note that the lithium… Read More Here

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Metals price rally could hamper switch to green energy — IEA

May 6, 2021May 6, 2021 admin

Soaring metals prices may be good for miners, but they put at risk the ongoing transition to clean energy as batteries, solar panels and wind turbines need considerable amounts of copper, nickel, cobalt, lithium and other minerals to be manufactured, a new report warns. According to The International Energy Agency (IEA), reaching the goals of the Paris climate agreement would result in a quadrupling mineral demand by 2040. Yet a lack of investment in new mines could substantially raise the costs of clean energy technologies, the IEA said on Wednesday. “The… Read More Here

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Gécamines has been dispossessed of 48.8 million tonnes of minerals – DRC

May 4, 2021May 4, 2021 admin

The president of the FEC (Fédération des entreprises du Congo) and Chairman of the Board of Directors of Gécamines, Albert Yuma, revealed, during an academic meeting at the Economic and Social Council on Monday, May 3, that the company He State Gécamines lost most of its mining heritage through joint ventures over 54 million tonnes of minerals in the period between 1996 and 2008. In his opinion, one of the causes of the current paradoxical situation of the DRC, a country with a geological scandal but poor, is linked “to… Read More Here

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Eurasian Resources to support elimination of child labour in DRC

May 4, 2021May 4, 2021 admin

Eurasian Resources announced that it has submitted an Action Pledge to strengthen its commitment to eliminate child labour in the cobalt mining sector in the Democratic Republic of Congo (DRC), where Unicef has estimated that close to 40,000 children are engaged in mining activities. The Action Pledge is administered by the International Labour Organisation and the Alliance 8.7. The mechanism aims to accelerate efforts to eradicate child labour worldwide in support of the UN’s designation of 2021 as the International Year for the Elimination of Child Labour. In terms of… Read More Here

Cobalt Mining in DRC

DRC cobalt standard to empower artisanal, small-scale miners – Trafigura

April 26, 2021April 26, 2021 admin

The Democratic Republic of Congo’s (DRC’s) newly established mining company – Entreprise Générale du Cobalt (EGC) – will ensure the country’s artisanal and small-scale mining (ASM) sector benefits from the energy transition through the establishment of legal and ethical channels for off-taking of the cobalt produced in the country, commodity trading company Trafigura corporate responsibility head James Nicholson said on April 26. Speaking during a webinar hosted by the Organisation for Economic Cooperation and Development on the topic of responsible mineral supply chains, he explained that ASM cobalt mining in the DRC was undergoing “fundamental reform”.… Read More Here

Cobalt Mining in DRC

China Moly to help small-scale cobalt miners

April 23, 2021April 23, 2021 admin

Cobalt and tungsten producer China Molybdenum and its Swiss-based trading arm, IXM, have joined a program that seeks to help artisanal and small-scale miners (ASM) become a responsibly-managed, viable source of battery metals. The “Better Mining” initiative, launched in 2018 by responsible-sourcing group RCS Global, has placed special emphasis on the Democratic Republic of Congo (DRC), which generates about two-thirds of the world’s supply of cobalt. The metal, a by-product of copper or nickel, is used to make lithium-ion batteries that power smartphones and electric cars. China Moly (CMOC), the world’s no.2… Read More Here

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Cobalt, nickel battery use rises as electric sports cars gain popularity

April 21, 2021April 21, 2021 admin

Despite a big drop from December’s blowout, largely due to seasonal factors, the February 2021 MINING.COM EV Metal Index, which tracks the value of battery metals in newly registered passenger EVs (including hybrids) around the world, still ranks as the fourth best month on record. Just shy of $300 million worth of lithium, cobalt, nickel and graphite hit roads in February, up 170% from the same month last year as the impact of the coronavirus only just started to ripple beyond China. For the first two months, the year on… Read More Here