Chinese company CMOC to lead Global Cobalt production in DRC
The Democratic Republic of Congo (DRC) is known internationally for its mining potential representing more or less 1,100 different mineral substances.
In accordance with its mining code, which has the merit of being attractive and inciting, the country seems to be a very fertile market for the giants of the mining sector.
With the entry into production of the Kisanfu mine of the Chinese mining giant CMOC scheduled for the second quarter of the current year, the CMOC mining company will double its production of cobalt, with an annual production capacity estimated at 30,000 tons. Thanks to this level of production, the CMOC company would now become the world’s leading producer of cobalt, thus dethroning the Swiss Glencore.
The information was announced by the Chinese giant CMOC and relayed by the Bloomberg agency.
Indeed, CMOC owns 80% of the shares in Tenke Fungurume Mining (TFM), which is dedicated to the prospecting, exploitation, processing and sale of copper and cobalt in a mining concession covering more than 1,500 km². The concession’s main products are copper cathode and cobalt hydroxide.
In addition, CMOC is also the majority shareholder of the Kisanfu mine also located in the Democratic Republic of Congo (DRC). The Kisanfu mine was, prior to this announcement, one of the largest undeveloped cobalt and copper projects in the world.
As a reminder, CMOC is an international mineral resources company engaged in the exploration, mining, processing and refining, marketing and trading of mineral products.
Mainly present in Asia, Africa, South America, Oceania and Europe, CMOC is a leading producer of tungsten, molybdenum, cobalt and niobium, as well as a major producer of copper.
As a global mining company with a top-tier MSCI ESG rating, CMOC follows the highest international ESG practices. CMOC is listed on the Shanghai and Hong Kong stock exchanges and currently employs approximately 21,000 employees and contractors worldwide.
