Cobalt - Copperbelt Katanga Mining

CMOC Reports Significant Growth in Copper and Cobalt Production for Q1

April 30, 2024April 30, 2024 Constance

Chinese mining company CMOC announced substantial increases in copper and cobalt production for the first quarter of the year, showcasing growth rates of 123% and 392%, respectively. Operating primarily in the Democratic Republic of Congo, CMOC reported production figures of 147,500 metric tons of copper and 25,200 tons of cobalt during the first three months of the year. The company’s Tenke Fungurume Mining (TFM) site expanded its mining capacity in March, elevating its annual capacity to 450,000 tons of copper and 37,000 tons of cobalt. This achievement propels TFM into… Read More Here

International Cobalt Nickel Zinc

Glencore Eyes Investment in Nigeria’s Mining Sector Amid Government Push for Growth

April 28, 2024April 28, 2024 Constance

Commodities giant Glencore (LON: GLEN) announced on Friday its interest in investing in Nigeria’s mining sector, contingent upon the government ensuring a stable business environment. CEO Gary Nagle, who held discussions with Nigeria’s Minister for Solid Minerals, Dele Alake, expressed particular interest in nickel, cobalt, zinc, and other metals. The timing of this visit aligns with Nigeria’s efforts to attract foreign investors to its underdeveloped mining sector. Alake emphasized the federal government’s commitment to attracting major international companies to drive the growth of the mining sector, drawing parallels with its… Read More Here

Mining in DRC Cobalt

Eurasian Resources Group Denies Accusations of Subcontracting Fraud in the DRC

April 25, 2024April 25, 2024 Constance

Eurasian Resources Group (ERG) has refuted allegations of attempting to circumvent subcontracting laws in the Democratic Republic of Congo (DRC), aimed at promoting local ownership in the mining sector and fostering economic benefits. In response to Congo government’s accusations of presenting nine subcontracting companies as majority partners with fictitious shares to evade the requirement of Congolese shareholders owning 50% of subcontracting shares, ERG issued a statement denying any involvement in illicit activities. The Regulatory Authority for Subcontracting in the Private Sector revealed that over $535 million in sales had been… Read More Here

Mining in DRC Cobalt Copper

Zijin’s Congo mine shipments returned due to radiation levels

April 24, 2024April 24, 2024 Constance

Mineral shipments from a Congolese copper and cobalt operation majority-owned by China’s Zijin Mining Group Co. Ltd were returned due to overly high radiation levels, the Congolese mines minister said in a letter seen by Reuters on Monday. The letter, dated April 12, informed the COMMUS project in which Zijin owns a 72% stake that the ministry had suspended its licence while it investigated the issue. “I am informed of the return of your shipments that exported … mineral products to South Africa on the grounds that their radioactivity content… Read More Here

Battery Metals Cobalt Lithium Mining in DRC

Sub-Saharan Africa’s Energy Transition Minerals Valued at $2 Trillion by 2050

April 23, 2024April 23, 2024 Constance

Sub-Saharan Africa is poised to play a significant role in the global energy transition, with the potential to generate nearly $2 trillion from the production of essential metals by 2050, according to the International Monetary Fund (IMF). In a paper released on Friday, the IMF outlined that global revenue from mining key metals such as copper, cobalt, lithium, and nickel could soar to $16 trillion over the next 25 years, as projected by the International Energy Agency (IEA). Sub-Saharan Africa is expected to contribute around 12% of this total output.… Read More Here

Mining in Zambia Battery Metals Cobalt

Musonoïe Mining Company SAS Addresses Misinformation Regarding Cobalt Hydroxide Products

April 23, 2024April 23, 2024 Constance

In response to recent misinformation circulating in the media, Musonoïe Mining Company SAS has issued a clarifying statement regarding its cobalt hydroxide products. The company, headquartered in Kolwezi, Democratic Republic of Congo, asserts that certain claims regarding radiation levels in its products are unfounded rumors. Reports suggesting the exceeding of radiation standards and sensationalized narratives, including the closure of mining areas and involvement of armed forces, have been addressed directly by the company. Contrary to these assertions, Musonoïe Mining Company affirms that it operates in strict adherence to national and… Read More Here

Mining in DRC Cobalt Copper

Zijin’s DRC Copper Mine Suspended Over Radiation Worries

April 21, 2024April 21, 2024 Constance

Recent developments have led to the suspension of operations at the La Compagnie Minière de Musonoie (COMMUS) project, a key copper and cobalt mine operated by Zijin Mining Group Ltd. in the Democratic Republic of Congo (DRC). Reports indicate concerns over elevated radiation levels in the cobalt extracted from the mine. Sources familiar with the situation revealed that COMMUS has been non-operational since earlier last week. Government officials are actively involved in overseeing the suspension of production and conducting tests on cobalt shipments. Some shipments, which were previously exported, have… Read More Here

Mining in DRC Battery Metals Cobalt

DRC Explores Export Quotas to Stabilize Cobalt Prices

April 13, 2024April 13, 2024 Constance

The Democratic Republic of Congo, the world’s leading cobalt producer, is exploring options to boost the price of the battery metal, including the potential implementation of export quotas. This move comes as cobalt prices have plummeted by two-thirds since mid-2022 due to an oversupply situation exacerbated by excessive production from Congo, which accounts for about 75% of global cobalt supply. President Felix Tshisekedi has expressed concerns about the price slump and has tasked the government with investigating measures to ensure a fair price for cobalt. The government is now seeking… Read More Here

Mining in DRC Battery Metals Cobalt

Eurasian Resources Group Inks MoU to Supply Cobalt to Japanese market with Mechema and Marubeni

April 13, 2024April 13, 2024 Constance

.The agreement with Mechema and Marubeni will explore the potential supply of cobalt hydroxide (up to 3ktCo per annum), and the production and marketing of cobalt sulfate .The potential cooperation could increase cobalt supply alternatives for Japanese market, which is showing substantial growth in demand due to global surge in EV adoption .It also supports ERG’s ambition to supply its cobalt to all key regions that will produce main portion of battery materials, one of which will be Japanese suppy chain Eurasian Resources Group (“ERG” or “The Group”), a leading… Read More Here

Mining in Zambia Battery Metals Cobalt

Electra Battery Partners with ERG for DRC’s Cobalt Supply

April 9, 2024April 9, 2024 Constance

In the race for the Democratic Republic of Congo’s (DRC) rich mineral resources, valued at a staggering $24 trillion, Electra Battery Materials has taken a significant stride. Recently, the company announced a pivotal agreement with Eurasian Resources Group (ERG) for a steady supply of Congolese cobalt. Under this arrangement, ERG, based in the DRC, will deliver 3,000 tonnes of cobalt hydroxide annually from its Metalkol operation to Electra. This cobalt will be channeled to a refinery located near Toronto, starting in 2026. This strategic partnership aligns with the United States’… Read More Here