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Category: Cobalt

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 2 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 4 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
mining companies warned against violation of human rights 5 Coal Cobalt Covid-19 Mining in DRC 

mining companies warned against violation of human rights

Copperbelt Katanga News
WITH the corona virus still a major disruption to most of the world, the pandemic has caused a lot of damage on many sectors. Trade unions have accused Mining companies operating in the Democratic Republic of the Congo (DRC) of violating mining workers’ rights in view of ending the corona virus. The mining companies have been advised to end confinement policies aimed at slowing the spread of the Corona disease as the practice infringes on human rights. Miners in the Democratic Republic of Congo are being forced to remain at… Read More Here
Katanga mining Copper Cobalt Economy Mining in Zambia 

Katanga Mining Completes Amalgamation Transaction

arnbethnic
Katanga Mining Limited (TSX: KAT)  is pleased to announce the successful completion of its previously announced amalgamation (the “Amalgamation“) with 836074 Yukon Inc. The Amalgamation was approved by 99.9% of the votes cast by shareholders of the Company (the “Shareholders“) at the Company’s special meeting of Shareholders held on June 2, 2020, and the Amalgamation was completed pursuant to Section 183 and Section 184 of the Business Corporations Act (Yukon) (“YBCA“), on the terms and subject to the conditions set out in an amalgamation agreement (the “Amalgamation Agreement“) dated June… Read More Here
Cobalt Supply Chain 1 CKM Cobalt Battery Metals Economy International Mining in DRC 

What Investors Should Know About Cobalt Supply Chains

arnbethnic
Interest in the cobalt space surged in 2017 and 2018, when prices were going through the roof on the back of expected demand from the electric vehicle (EV) space.   Cobalt is a key element in the lithium-ion batteries used to power EVs, and even though prices are far away from those highs, the long-term future of the metal is still quite bright. When looking at the cobalt supply chain, there are two countries that dominate. On the mining side, the Democratic Republic of Congo (DRC) takes the lead, with Benchmark Mineral Intelligence… Read More Here

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