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Category: Cobalt

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
Congo to debate copper concentrate export waivers with miners 1 Copper Cobalt Mining in DRC 

Congo to debate copper concentrate export waivers with miners

admin
Mining companies, copper and cobalt buyers have been invited to a meeting in Kinshasa next week to discuss whether there is a way to maintain the waiver of an export ban, which is set to expire in September, the mining minister announced. The Congo, Africa’s largest copper producer, banned the export of copper and cobalt concentrates in 2013 to encourage miners to process and refine the ore within its borders. However, the country does not have sufficient smelting capacity and has repeatedly issued exemptions. A comprehensive ban would lead to… Read More Here
Cobalt Cobalt Economy Mining in DRC 

DRC Cobalt Production at 38,816 tonnes by the end of June 2020

arnbethnic
The mining industry in the Democratic Republic of the Congo overall produced 38,816 tonnes of cobalt in the first six months of 2020, according to data from the Central Bank of Congo.  This production volume achieved in 2020 is up, despite the covid-19 health crisis, compared to the same period in 2019 when mining companies produced 36,772 tonnes of cobalt. Recall that in 2019, the Democratic Republic had produced over the entire year 77,964 tonnes of cobalt. Read More Here
Glencore Offices Mopani Cobalt Copper Mining in DRC Mining in Zambia 

Glencore copper production drops 11%, cobalt by a third

arnbethnic
Glencore Plc (LON: GLEN) said trading profit will be at the top end of its target this year but posted lower production figures for its first half. The company had nearly $1 billion in earnings before interest and taxes in oil trading in the first six months of 2020, similar to what it made in the full year 2019, Bloomberg reported last week. In March and April, as oil prices plunged, traders were able to buy and store huge amounts of cheap crude before selling it later at higher prices. Glencore has set… Read More Here
congo cobalt ore Cobalt Mining in DRC New Mining Projects 

Cobalt General Enterprise operational with a weekly financial purchasing capacity of USD 7.5 million | DRC

arnbethnic
 The new General Enterprise of Cobalt (EGC), a state-owned company and subsidiary of Gécamines, is now operational in the province of Lualaba. Mines Minister Willy Kitobo Samsoni presented the company, which has a monopoly on the purchase of cobalt from artisanal diggers in Lualaba and Haut-Katanga provinces, at Moon Palace in Kolwezi on Monday (July 27th), reports the ACP.  For this circumstance, the ceremony brought together, in addition to the Minister of Mines, his portfolio colleague, Clément Kuete, the governors of Upper Katanga, Jacques Kyabula Katwe, and Lualaba, Richard Muyej… Read More Here
Cobalt Cobalt Mining in DRC 

Sanctioned Israeli billionaire to gain from Elon Musk cobalt deal

arnbethnic
Elon Musk may help sanctioned Israeli billionaire Dan Gertler get a little richer. Tesla Inc., the company Musk runs, struck a deal last month with Glencore Plc to buy as much as 6,000 tons of cobalt annually for use in the rechargeable batteries that power its electric vehicles. Glencore, in turn, is obligated to pay Gertler about 2.5% of sales from its mines in the Democratic Republic of Congo – royalty rights he acquired from state-owned miner Gecamines. What makes the arrangement eye-catching is that Gertler has been blacklisted from… Read More Here
BMW avoids the Congo conundrum for now | Cobalt price 3 Battery Metals Cobalt Mining in DRC 

BMW avoids the Congo conundrum for now | Cobalt price

arnbethnic
German luxury vehicle maker BMW this week signed a $2.3 billion long-term deal with Swedish battery maker Northvolt, the latest of such deals, as European carmakers try to compete with Tesla in the burgeoning electric vehicle market.   MANAGEM OWNS BOU-AZZER, THE ONLY PRIMARY COBALT MINE IN THE WORLD AND IN OPERATION SINCE 1930. Tesla’s gigafactories and battery technology have long given it an edge in the EV market (Northvolt was started by two former Tesla execs), but when it comes to the sourcing of raw material for lithium ion batteries,… Read More Here
Cobalt Supply Chain 1 CKM Cobalt Mining in DRC 

Lower cobalt price makes it difficult to reach annual budget allocations | DRC

arnbethnic
In the face of the downward trend in the price of cobalt, the chances for the Democratic Republic of Congo (DRC) to achieve are diminishing, as much of its revenue comes from mineral resources. The sale of cobalt is an important part of the budget forecast. Hence the need to internalize prudential management of state resources. Internationally, the price of cobalt has been falling for several months. At the root of this downward trend is the decline in sales of electric vehicles. According to experts, this downward trend is expected… Read More Here
DRC to tackle child labor at mines as virus threatens spike 5 Mining in DRC Cobalt Covid-19 Safety & Health 

DRC to tackle child labor at mines as virus threatens spike

Copperbelt Katanga News
Authorities in the southeastern heart of the Democratic Republic of Congo’s mining community are stepping up efforts to combat child labor, as it is feared that the coronavirus pandemic could lead more families to take their children to work in mines. Mining accounts for 32% of Congo’s national output and the economy has been hard hit by the pandemic, which has slowed demand for metals and other raw materials. Congo is Africa’s main producer of copper and the top global source of cobalt, accounting for two-thirds of global supplies of… Read More Here
Tesla Cobalt batteries Cobalt International 

Tesla to buy cobalt from Glencore for EV plants

Copperbelt Katanga News
Tesla Inc sets out to buy cobalt from Glencore. A person familiar with the matter announced that Tesla will buy cobalt from Glencoe Plc, the world’s biggest miner of the metal, as the carmaker looks to avoid a future supply squeeze on the key battery metal. The contract will help Tesla shore up its cobalt supply for new plants in China and Germany, added the person who asked that their identity remain confidential as the issue was private. The opening of Tesla’s so-called gigafactory in China has this year helped… Read More Here

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