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DRC Aims to Boost Local Cobalt Refining by Targeting Fairer Prices and Long-Term Market Stability 1

Congo Eyes Cobalt Price Rebound to Drive Local Refining, Reduce China’s Dominance The Democratic Republic of Congo (DRC) is pushing for a sustainable cobalt price to encourage domestic processing, as the government charts its course following a suspension of cobalt exports. The move, part of a broader strategy to stabilize global markets and attract local investment, comes amid shifting dynamics in the critical battery metal industry. Congo, responsible for nearly 75% of the world’s cobalt supply, first halted exports on February 22 for four months. In June, the government extended… Read More Here

Mining in DRC Battery Metals Cobalt Copper Corporate News Mergers & Acquisitions

U.S. Consortium Eyes Strategic Acquisition of Chemaf Amid Critical Mineral Race in DRC

July 18, 2025July 18, 2025 Constance

U.S. Firms Orion and Virtus in Talks to Acquire Congo’s Chemaf Resources as Global Cobalt Race Heats Up A U.S.-based consortium, including former special forces and intelligence veterans, is in advanced talks to acquire Chemaf Resources Ltd., a copper and cobalt producer at the heart of intensifying U.S.-China competition over critical minerals in the Democratic Republic of Congo (DRC). According to sources familiar with the matter, Orion Resource Partners and Virtus Minerals are jointly negotiating the acquisition of Chemaf, which is currently backed by global commodity trader Trafigura Group. While… Read More Here

Mining in DRC Battery Metals Cobalt

CMOC Delivers Strong Cobalt Growth Amid Congo Export Crackdown

July 15, 2025July 15, 2025 Constance

CMOC Increases Cobalt Output in Congo Amid Export Ban, Projects $1.1B Profit Surge China’s CMOC Group, the world’s largest cobalt producer, reported a strong rise in output from its operations in the Democratic Republic of Congo (DRC), defying an ongoing export ban imposed by the Congolese government. In a preliminary earnings statement released Monday, CMOC announced a 13% year-on-year increase in cobalt production, reaching 61,073 tons in the first half of 2025. This growth occurred despite DRC’s export suspension, which was initially enacted in February and extended through September. Congo,… Read More Here

Mining in DRC Cobalt

IXM Declares Force Majeure on Cobalt Contracts Amid Extended DRC Export Ban

July 3, 2025July 3, 2025 Constance

IXM, the metals trading arm of China’s CMOC Group, has declared force majeure on its cobalt supply contracts due to an ongoing export ban imposed by the Democratic Republic of Congo (DRC), the company announced on Monday. Earlier this month, the DRC government extended the export ban for an additional three months, citing efforts to address global cobalt oversupply and stabilize falling prices. The DRC, which produces over 80% of the world’s cobalt, first implemented the ban on February 22. The restriction is enforced by the country’s Authority for the… Read More Here

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India Targets Critical Minerals in Zambia Amid Global Supply Concerns

July 3, 2025July 3, 2025 Constance

India has deployed a team of geologists to Zambia to explore deposits of copper and cobalt, two minerals critical to its clean energy transition, according to two Indian government sources. The Zambian government has allocated 9,000 square kilometers (approximately 3,475 square miles) to India for this exploration initiative. The focus will be on cobalt—a vital component in batteries for electric vehicles and mobile phones—and copper, which is widely used in power generation, electronics, and construction. The exploration project is expected to span three years, with most of the sample analysis… Read More Here

Mining in DRC Battery Metals Cobalt

DRC Secures Strategic Stake in Nation’s First Copper-Cobalt Refinery Project

June 29, 2025June 30, 2025 Constance

The Democratic Republic of Congo (DRC) has acquired a 10% stake in Buenassa Resources SA, the company spearheading the development of the country’s first copper and cobalt refinery. The agreement was formalized on June 25 through a memorandum of understanding signed by Jean-Lucien Bussa, Minister of State Portfolio, and Eddy Kioni, CEO of Buenassa Resources. Though a minority stake, the 10% is classified as a “golden share,” granting the Congolese government veto power over strategic decisions that impact national interests. These include issues related to employment, taxation, environmental standards, local… Read More Here

Mining in DRC Battery Metals Cobalt Exploration

EU Strengthens Support for Responsible Mining and Geological Development in the DRC

June 26, 2025June 26, 2025 Constance

The European Union has unveiled new financial support for the Democratic Republic of Congo’s (DRC) mining sector, launching two key initiatives aimed at fostering responsible mineral value chains and enhancing the country’s geological data infrastructure. The first initiative involves the EU’s backing of the Cobalt for Development project. This program is being implemented by the German development agency GIZ in collaboration with the Congolese state-owned enterprise, Entreprise Générale du Cobalt. Starting with pilot sites, the project seeks to improve social and environmental conditions in the artisanal cobalt mining sector. The… Read More Here

Mining in DRC Battery Metals Cobalt

Global Cobalt Market Jolted by Congo’s Surprise Export Ban Extension

June 24, 2025June 30, 2025 Constance

Cobalt futures in China soared on Monday to levels not seen since mid-March, following the Democratic Republic of Congo’s decision to extend its ban on cobalt concentrate exports. Initially implemented in February, the ban has now been prolonged by another three months, significantly disrupting global supply. As the source of over 80% of the world’s cobalt—a key component in electric vehicle (EV) batteries—the DRC’s move is expected to remove more than 100,000 tonnes of cobalt from the global market over a seven-month span, according to industry estimates. Futures contracts for… Read More Here

Mining in DRC Battery Metals Cobalt

DRC Extends Cobalt Export Ban Amid Global Supply Squeeze and Rising Prices

June 24, 2025June 24, 2025 Constance

The Strategic Minerals Market Regulatory and Control Authority (ARECOMS) has announced a three-month extension of the temporary suspension on cobalt exports from the Democratic Republic of Congo (DRC). The renewed measure, effective from June 21, 2025, was made public via a press release issued on Saturday, June 21. According to the ARECOMS Board of Directors, led by Patrick Mpoyi Luabeya, the decision stems from continued oversupply in the market. The suspension applies to all cobalt produced across the country—whether sourced from industrial, semi-industrial, artisanal, or small-scale mining operations. This extension… Read More Here

International Battery Metals Cobalt

Celsius Exits Opuwo Cobalt Project in Namibia to Prioritize Philippine Flagship

June 19, 2025June 19, 2025 Constance

Celsius Resources is moving forward with plans to divest its 95% interest in the Opuwo Cobalt Project in Namibia, as it sharpens its strategic focus on its flagship Maalinao-Caigutan-Biyog (MCB) Copper-Gold Project in the Philippines. The Opuwo Cobalt Project, one of the largest known cobalt deposits outside the Democratic Republic of the Congo (DRC), is owned by the Opuwo Cobalt Group, in which Celsius holds a 95% stake. In March 2025, Celsius revalued the group’s assets at approximately USD 3.02 million. As of June 30, 2024, all assets under the… Read More Here