Congo Mining News

Auto industry’s use of lithium-ion batteries to grow seven-fold by 2025

The need to store electricity, generated by renewable energy sources such as wind and solar, will also help demand to grow, the Metal Bulletin says.

Glencore’s cobalt output up by almost a third thanks to Congo mines

Glencore is the world’s No. 1 cobalt miner, while Congo is the largest producer of the key component for batteries that power electric vehicles.

Randgold to revise full-year forecast as readies Tongon mine for restart

As a result of the latest stoppage at the Ivory Coast mine and the time it will take to bring it back on line and at full tilt, Randgold will have to review its 290,000-ounce gold output forecast for the year.

Kibali gold mine aims at record output after underground ramp-up

DRC's Kibali is moving from underground mining by contractors to owner-mining, as has already happened at the company’s Loulo mines in Mali.

Randgold’s Tongon mine in Ivory Coast hit by strike

Labour action has brought gold production to a halt.

Glencore shareholders mull suing firm over corruption, bribery probes

They claim mounting investigations into the firm’s dealings in the DRC, where it’s heavily invested, has made the stock collapse and investors may seek compensation for the losses caused by it.

US probe darkens Glencore horizons from Africa to Americas

Investigation is casting a wider net with the addition of Venezuela and Nigeria to its investigation, increasing the likelihood that Glencore’s management will get bogged down in a lengthy legal process.

LME to get tougher on cobalt companies with ties to the DRC

Starting next year, it will demand firms that get at least 25% of their metal from small-scale mines in the DRC to be subject of a professional audit.

Glencore hammered as US requests documents in corruption probe

Shares fell as much as 13% after the miner and commodities trader was told by US Department of Justice to produce documents on Nigeria, Congo and Venezuela.

Congo court suspends hearing on Glencore-owned cobalt mine

Until last month, Glencore was fighting three lawsuits in Congo that called into question its control of its prized copper and cobalt mines.

China marks cobalt, copper ascendancy in Congo with new group

The 35-member union includes China Molybdenum Co.-controlled Tenke Fungurume Mining and MMG Ltd., as well as subsidiaries of China Nonferrous Metal Mining Group and Huayou Cobalt Co. Sicomines, among others.

Trump trade war blows up big week for mining majors

A week choc-a-bloc with billion dollar copper, iron ore and cobalt deals ends with huge drop in prices and sell-off in stocks of mining's biggest names.

Gecamines says Glencore deal to yield billions for Congo state

Glencore reached a deal with Gecamines on Tuesday to end a legal dispute over Kamoto Copper Co.

Glencore's great game is avoiding US sanctions: Chris Bryant

Glencore says its subsidiaries will pay Gertler what he’s owed, only the funds will be transferred in euros and U.S. citizens won’t be involved.

Glencore settles legal row with former partner over Congo royalties

The Swiss firm will make mining royalty payments to Dan Gertler in euros so that it doesn’t fall foul of US sanctions, which were placed on the Israeli billionaire last year.

Congo miner Gecamines plans to renegotiate with foreign partners

Heavily in debt and with dwindling output, Gecamines has long complained about its joint venture terms.

Congo plans to start $13.9 bn hydropower project this year

The plant would form part of a larger Grand Inga hydropower complex spanning the Congo River.

Congo's miners face harsh new reality as mining law finalized

After six months of lobbying, companies including Glencore and Randgold Resources have got nowhere in their battle to push back against a new mining law that voids existing agreements and increases their costs.

China's CITIC grabs stake in Ivanhoe Mine for $560 million

CITIC Metal will own 20% of the Canadian miner, which makes its biggest shareholder.

Glencore faces third Congo legal challenge this year

Congolese-American businessman and convicted fraudster Charles Brown claims he's owed $1 billion in compensation for a 19% stake he previously held in Mutanda Mining, and which Glencore allegedly sold in two fraudulent transactions, in 2007 and 2012.

Congo mining regulations to be signed into law on Friday — mines minister

Congo's prime minister wants to immediately implement the new mining code without any concessions to industry demands that key provisions be amended.

Cobalt thrifting in EV batteries won’t dent price any time soon

Even best-case, mass early roll-out of new cobalt-light batteries won’t solve cobalt supply issues says new report.

Cobalt price: Congo production surges

Top supplier of battery raw material ups output 34% year on year.

Miners threaten Congo with legal action over mining code

Regulations to implement the new code are due to be signed into law next week.

Report: Mining needs $100–$150 billion to meet EV demand

McKinsey asks if the availability and rising prices of cobalt, lithium, copper and nickel will constrain greater electric vehicle penetration.