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Category: Cobalt

Cobalt price rally lifts EV Metal Index to fresh record high 1 Cobalt International 

Cobalt price rally lifts EV Metal Index to fresh record high

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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
What China’s increasing control over cobalt resources in the DRC means for the West – report 2 Mining in DRC Cobalt 

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

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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
Mines: good prospects for cobalt, nickel and lithium prices following the boom in electric vehicles 3 Cobalt Lithium Nickel 

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

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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
Northeastern Ontario refinery could accept Congo cobalt by late 2022 4 Mining in DRC Cobalt 

Northeastern Ontario refinery could accept Congo cobalt by late 2022

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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
First Cobalt signs supply deal with Glencore, eyes China Moly contract 5 Cobalt International Mining in DRC 

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

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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
Global cobalt production capacity expected to be cash positive in 2021 – report 6 Cobalt International Mining in DRC 

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

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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
Cobalt Cobalt Battery Metals Mining in DRC 

A mission to convince major global consumers of Congolese cobalt

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The missions of the Minister of Mines Professor Willy KITOBO SAMSONI in the world and in the provinces with the objective of convincing the large world consumers of Congolese Cobalt to work with the Government of his country to make the artisanal production of responsible Cobalt ended up paying off and give credibility to the efforts of the DRC in improving working conditions for artisanal mining activities. Indeed, it is since the last Davos conference in Switzerland where he was received by the members of GBA, his mission in Geneva… Read More Here
Cobalt may substitute platinum in fuel cells 8 Battery Metals Cobalt 

Cobalt may substitute platinum in fuel cells

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A team led by researchers at the Pacific Northwest National Laboratory in the United States designed a highly active catalyst that contains cobalt interspersed with nitrogen and carbon and, thus, doesn’t rely on platinum to spur the necessary chemical reaction. In a paper published in the journal Nature Catalysis, the scientists say that their invention is four times more durable than similarly structured catalysts made from iron —another platinum substitute.  In their view, their findings show promise for fuel cells in transportation as proton exchange membrane fuel cells paired with hydrogen… Read More Here
DRC: 78,935 tonnes of cobalt produced at the end of November 2020, i.e. production up 8.6% compared to the same period in 2019 10 Mining in DRC Cobalt 

DRC: 78,935 tonnes of cobalt produced at the end of November 2020, i.e. production up 8.6% compared to the same period in 2019

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The Democratic Republic of the Congo produced 78,935.53 tonnes of cobalt up to the end of November 2020 against 72,506.93 tonnes in the same period in 2019, according to figures from the Ministry of Mines. For the whole of 2019, the Democratic Republic of the Congo produced 77,964 tonnes of cobalt. So the production of the first 11 months of the year 2020 exceeds that of the whole year of 2019 by 1.24%. Recall that the DRC’s mining industry achieved a record production of 109,402 tonnes of cobalt in 2018 against… Read More Here

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