Cobalt - Copperbelt Katanga Mining

Glencore’s 2020 output hit by Congo mine closure, sticks to targets

February 3, 2021February 3, 2021 admin

Zinc output rose 9% to 1.17 million tonnes while ferrochrome production was 28% lower at 1 million tonnes. Glencore said on Wednesday its copper and cobalt production fell in 2020 after the Mutanda mine closure in Democratic Republic of Congo but said the ramp up of another mine in the African country was progressing well. The London-listed company, which also mines coal, nickel, silver, lead, gold and zinc, stuck to all of its production targets for 2021, after trimming coal guidance last year. The mining and trading firm said copper… Read More Here

Cobalt International Mining in DRC

Glencore inks “ethical cobalt” deal with FREYR

February 1, 2021February 1, 2021 admin

Miner and commodities trader Glencore (LON: GLEN) has inked a preliminary deal with Norwegian battery producer FREYR to supply 3,700 tonnes of “ethically sourced” cobalt metal cut cathodes. The cobalt, which will be produced at the Swiss company’s Nikkleverk facility in Norway, will be a core component in FREYR’s lithium-ion battery (LIB) cells to be produced at planned facilities in the town of Mo i Rana. The supply agreement builds on a memorandum of understanding (MOU) the companies signed in December, covering joint research and development projects. That document outlined combined steps towards… Read More Here

Cobalt Mining in DRC

China Molybdenum raises annual cobalt output target by 18%

January 29, 2021February 1, 2021 admin

China Molybdenum, operator of the giant Tenke Fungurume mine in the Democratic Republic of Congo, on Friday said it was targeting production of 16,500-20,100 tonnes of cobalt in 2021. That is an increase of about 18% on the 14,000-17,000 tonnes targeted in 2020. Prices for battery metal cobalt on the London Metal Exchange are up 28.9% so far this year on Chinese stockpiling and concerns of supply disruption. China Moly also said in filing to Shanghai Stock Exchange that it is targeting copper production of 187,300-228,900 tonnes in 2021, up… Read More Here

Cobalt

China imports less cobalt feedstock in 2020

January 25, 2021January 25, 2021 admin

Chinese imports of cobalt intermediate products and concentrates declined in 2020 following a shortage in supplies from uncertainty in main production hubs outside of China during the Covid-19 pandemic. China imported 295,472t of cobalt intermediates produced through the hydrometallurgy process in 2020, down by 1.5pc on the year, according to customs data. December imports were 30,444t, down by 14.9pc from a year earlier. Imports of cobalt concentrate totalled 52,938t last year, down by 41.8pc from 2019, with December shipments up by 22.2pc on the year to 3,220t. Covid-19 lockdowns reduced… Read More Here

Cobalt International

Cobalt price rally lifts EV Metal Index to fresh record high

January 20, 2021January 20, 2021 admin

The MINING.COM EV Metal Index, which tracks the value of battery metals in newly registered passenger EVs around the world, set a fresh monthly record in November and is already near the annual total for 2019. Month on month price and deployment data (bar nickel) for the raw materials all improved in November, boosted by the overall increase in EV sales (including hybrids) during the month, 73% year over year and the relative outperformance of full electric cars and plug-in hybrids. Total battery capacity of EVs sold increased 117% year… Read More Here

Mining in DRC Cobalt

What China’s increasing control over cobalt resources in the DRC means for the West – report

January 18, 2021 admin

Market analyst Roskill published a report where it states that China’s increasing control over copper and cobalt resources in the Democratic Republic of the Congo could pose a threat to western market participants. The threats are related to the security of supply, as increasingly close ties between the two countries could pose problems to those in the West looking to build up self-contained localized battery supply chains. IN EARLY JANUARY, CHINA ANNOUNCED THAT IT WOULD CANCEL $28 MILLION OF LOANS TO THE DRC AND WOULD PROVIDE $17 MILLION IN OTHER FINANCIAL SUPPORT Back in early… Read More Here

Cobalt Lithium Nickel

Mines: good prospects for cobalt, nickel and lithium prices following the boom in electric vehicles

January 18, 2021January 18, 2021 admin

Battery metals are expected to rebound this year as the electric vehicle boom is supported by the post-pandemic push for a green economic recovery. Another positive wind for lithium, cobalt and nickel comes as further stimulus is expected to fuel inflation, boosting demand for durable assets like commodities. The dollar’s reflation and weak trade mean it’s not just an electric vehicle (EV) story anymore, according to Trafigura, the world’s second-largest metals trader. BloombergNEF predicts tight markets for lithium, battery grade nickel and cobalt to drive prices higher this year, but not… Read More Here

Mining in DRC Cobalt

Northeastern Ontario refinery could accept Congo cobalt by late 2022

January 13, 2021January 13, 2021 admin

First Cobalt strikes cobalt feed deal with Glencore, plant construction scheduled for mid-year. The owners of a renovated cobalt refinery in northeastern Ontario have signed a supply agreement with Glencore to receive unprocessed cobalt from the Democratic Republic of Congo (DRC) by late 2022. Toronto’s First Cobalt announced it has signed a five-year supply contract with Glencore AG to ship material from Kamoto Copper Company, its subsidiary in the DRC, starting in the fourth quarter of 2022. Glencore has helped finance First Cobalt’s plant-reopening plans. A second supply agreement is in the works after… Read More Here

Cobalt International Mining in DRC

First Cobalt signs supply deal with Glencore, eyes China Moly contract

January 13, 2021January 13, 2021 admin

First Cobalt Corp said on Tuesday it signed a deal with Glencore and has agreed a tentative pact with a unit of China Molybdenum Ltd for cobalt supplies from the Democratic Republic of the Congo. The agreements come after First Cobalt last month secured C$10 million in government loans and grants to accelerate startup and expansion of North America’s first cobalt refinery in the Canadian province of Ontario. The DRC is the world’s top producer of cobalt, a crucial ingredient for the lithium-ion batteries that underpin the fast-growing electric vehicle sector. Toronto-based… Read More Here

Cobalt International Mining in DRC

Global cobalt production capacity expected to be cash positive in 2021 – report

January 11, 2021January 11, 2021 admin

Market analyst Roskill forecasts that cobalt’s all-in sustaining cost of production will fall by around 2% y-o-y in 2021, from $23,085/t to $22,600t. In a recent report, Roskill explains that, as a result of this prediction, it estimates that over 98% of cobalt production capacity will be cash positive on an AISC basis, based on cobalt price circa $39,700/t. In the market analyst’s view, all cost centres except processing and site G&A will decrease on an average industry-wide aggregated basis in 2021. The remainder combined are expected to decrease by $1,329/t,… Read More Here