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Category: Cobalt

Miners produced 44,878 tonnes of cobalt at the end of July 2020, up slightly from the same period in 2019 in DRC 1 Cobalt Mining in DRC 

Miners produced 44,878 tonnes of cobalt at the end of July 2020, up slightly from the same period in 2019 in DRC

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Mining companies in the Democratic Republic of the Congo produced 44,878 tonnes of copper as of July 31, 2020 compared to 44,002 tonnes in the same period in 2019, a slight increase of 1.99% from the previous year. In 2019, the DRC’s miners overall produced 77,964 tonnes of cobalt. The production record was reached in 2018 with 109,402 tonnes of cobalt. Cobalt prices were around $ 33,000 per tonne last week. The DRC is the largest producer of cobalt in the world. Congo Kinshasa has about 60% of the world’s cobalt reserves.… Read More Here
Tesla joins cobalt group that supports artisanal miners in DRC 2 Mining in DRC Artisanal mining Cobalt 

Tesla joins cobalt group that supports artisanal miners in DRC

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Tesla is backing a new initiative to support informal cobalt miners in the Democratic Republic of Congo as carmakers and miners seek to reassure customers about ethically mined supplies of the battery metal. The company joined the fledgling Fair Cobalt Alliance, according to an updated list of members on the group’s website. The FCA aims to end the use of child labour at mining sites and improve working conditions in Congo. It’s also backed by miner and trader Glencore and major Chinese cobalt refiner Zhejiang Huayou Cobalt. Almost three-quarters of… Read More Here
Cobalt prices surge on electronics boom, as its supply tightens 3 Cobalt International 

Cobalt prices surge on electronics boom, as its supply tightens

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Benchmark Mineral Intelligence reports cobalt hydroxide prices surged by more than 22% to more than $26,000 per tonne in August from July, while cobalt sulphate prices jumped 18.5% to average over $8,000 a tonne on the back of supply disruption and strong demand from the consumer electronics sector. The London-based battery supply chain and price discovery agency reports the price rally came despite lacklustre demand from the electric vehicle throughout the month. Benchmark says the soft downstream environment was most notable in top Chinese cobalt refiner GEM’s announcement that its NCM (nickel-cobalt-manganese)… Read More Here
Tenke Fungurume1 China Moly Cobalt Mining in DRC 

China Moly’s H1 cobalt production down 24% year/year

arnbethnic
China Molybdenum Co., one of the world’s biggest cobalt producers, saw its output of the battery metal fall 24% year-on-year in the first half, according to Reuters calculations based on company filings. China Moly, which operates the Tenke Fungurume mine in the Democratic Republic of Congo (DRC), said in a statement on the Shanghai Stock Exchange it produced 6,543 tonnes of cobalt metal in January-June this year. It had reported output of 8,614 tonnes in the first half of 2019. The number implies second-quarter production of 3,299 tonnes of cobalt, a key… Read More Here
Glencore joins Fair Cobalt Alliance 4 Mining in DRC Cobalt International 

Glencore joins Fair Cobalt Alliance

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Switzerland-based miner Glencore has joined the Fair Cobalt Alliance in support of the group’s efforts to eliminate child and forced labour in the Democratic Republic of the Congo’s artisanal and small-scale mining (ASM) sector. Glencore mothballed its Mutanda copper-cobalt mine in the DRC in 2019 The miner noted that as an industrial miner it does not process, buy or trade ASM materials, but said the artisanal sector was a significant employer in the DRC and played “an important and sustainable” role in the economy. Some 60% of the world’s cobalt is… Read More Here
Miners relieved after DRC makes exceptions to export ban 5 Mining in DRC Coal Cobalt 

Miners relieved after DRC makes exceptions to export ban

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The Democratic Republic of the Congo (DRC) has given mining companies an indefinite waiver to an export ban on cobalt hydroxide and carbonate, as well as tin, tungsten and tantalum concentrates after meeting the country’s biggest miners in Kinshasa. The mines ministry also announced on Saturday an export ban waiver on copper concentrate, but said the duration of that waiver is still to be determined, with companies expected to submit proposals in a week. The DRC, the world’s leading producer of cobalt and Africa’s biggest copper producer, banned exports of… Read More Here
Huayou Cobalt to stop the Purchase of cobalt in DRC 6 Cobalt Mining in DRC 

Huayou Cobalt to stop the Purchase of cobalt in DRC

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Chinese refiner Huayou Cobalt has stopped all purchases of cobalt from two artisanal and small-scale mines (ASM) in the Democratic Republic of Congo, in response to human-rights concerns. Huayou Cobalt will not resume purchases from the Kasulo and Kamilombe mines until standards are developed for the DRC by the Better Mining programme, which is being developed by German supply chain organisation the RCS Group, reported Reuters. Mining Magazine reported earlier this month that Better Mining’s collaboration with Huayou Cobalt had been extended. RCS monitoring will continue at the Kasulo and Kamilombe mines… Read More Here
Cobalt Metal Covid-19 Cobalt 

China to boost cobalt reserves as virus spurs supply risks

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China’s state stockpiling agency has drawn up plans to buy 2,000 tonnes of cobalt after the coronavirus pandemic highlighted the fragility of supplies of the strategic mineral. The National Food and Strategic Reserves Administration could put its purchasing plan into action by the end of this year, according to two people familiar with the matter, who asked not to be identified because they’re not authoriSed to speak publicly. The move is in response to  supply disruptions from top producer, the Democratic Republic of Congo (DRC), and is in line with… Read More Here
RCS Global & Responsible Minerals Institute expand Better Mining artisanal mine monitoring program 7 Copper Cobalt Mining in DRC 

RCS Global & Responsible Minerals Institute expand Better Mining artisanal mine monitoring program

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RCS Global Group and Responsible Minerals Initiative (RMI) have expanded Better Mining’s Artisanal and Small-Scale Mine (ASM) program to include additional cobalt and copper mine sites in Lualaba Province, Democratic Republic of the Congo (DRC) announced.  The expansion begins with the immediate addition of a mining site near Likasi, followed by a fifth site currently under evaluation. Better Mining and the RMI plan to scale the program to 12 locations in the Democratic Republic of the Congo by 2023. The agreement marks the next phase in the expansion of the… Read More Here
eiti-drc Mining Companies Cobalt Copper Mining in DRC 

EITI-DRC report does not capture enough information on the SICOMINES mining project, according to AFREWATCH

arnbethnic
The African Observatory of Natural Resources (AFREWATCH) focused on the SICOMINES mining project, in its analysis note of the draft framework of the EITI-DRC reports 2018-2020, made public during this month of August. AFREWATCH specifies that the EITI report today does not capture enough information on the SICOMINES project nor does it allow to create a citizen debate around this project, while the risk of indebtedness for the country remains very high.  Therefore, the African Observatory of Natural Resources suggests the improvement of the submission forms in order to integrate… Read More Here

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