Congo Mining News

How Congo faced down some of the world's biggest mining firms

The changes to the mining code in Congo, which supplies some 60 percent of the world's cobalt, could have repercussions for consumers around the world.

Glencore signs massive cobalt sale deal with China's GEM

The world’s biggest producer of cobalt has agreed to sell around a third of its cobalt production over the next three years to the Chinese battery recycler.

Canada’s First Cobalt buys US explorer, creates key supplier outside Congo

The blended company will have projects in Ontario and Idaho which, once in operations, could be major cobalt suppliers for EVs makers and high tech firms.

Samsung is said in talks for multi-year cobalt deal from Congo

Samsung C&T has approached Somika SPRL to buy cobalt produced at its Kisanfu mine in Congo after only buying copper from the company for the past four years.

Taxes aren't the real problem with mining in Congo: Gadfly

There's a strange thing about the fear going through the global mining industry after theCongo signed an order to lift royalties last week: Compared with most other countries, these levies are still relatively low.

Cobalt consumers main victims of Congo’s new mining code — analysts

A new mining code in the cobalt-rich Congo will lead to higher costs for consumers of the battery metal at a time automakers are expanding production of electric vehicles, experts say.

Congo's Kabila to sign new mining code soon after meeting with miners

The announcement followed a nearly six-hour meeting on Wednesday between Kabila and mining executives in Kinshasa about the new code, which will raise taxes and remove a stability clause.

Kazakh miner ERG revives sale of Congo copper mine

ERG revives efforts to sell its Frontier copper mine in the DRC despite a drop in valuation to about $400 million, two banking sources said.

Glencore's talks to sell cobalt to Chinese firm falter on price

Price is a sticking point as Glencore and other major producers are now able to exert more influence in negotiations, sources said.

Congo's Kabila meeting with mining companies postponed

Democratic Republic of Congo President Joseph Kabila's plan to discuss proposed changes to mining royalties with mining company representatives on Tuesday has been postponed by a day.

Freeport says no plans to sell Congo cobalt asset as buyers circle

Freeport is looking at other options for the asset, including possibly a joint venture to develop the large cobalt project.

This guy got rich on Congo mines until bribe probe put future on hold

A 20-year friendship that helped turn Dan Gertler into a billionaire has left the Israeli businessman with a lot fewer places to go.

Apple in talks to buy cobalt directly from miners — report

Electronics and car makers are racing to lock in supply agreements for cobalt amid fears of shortage.

Glencore gives investors $2.9bn in dividends after ‘strongest’ results ever

The Swiss miner and commodities trader Glencore said its solid finances will let it to pursue more acquisitions if opportunities arise.

Congo's Kabila yet to sign new mining code as deadline nears

The President has 15 days from the time parliament sends him the bill to either sign it into law or return it to parliament for further deliberation. If he takes no action, the bill automatically becomes law.

Congo's cobalt hopes risk the same ruinous road as Thai rice: Russell

The DRC's attempts to extract more from cobalt will unleash a wave of unintended consequences, none of which will be positive for the government in Kinshasa.

INFOGRAPHIC: The true costs of artisanal mining

Artisanal and Small-Scale Mining (ASM) has become a major of revenue for millions of people in about 80 countries worldwide, with more than 100 million people currently depending on the activity for their livelihoods. But at what costs?

Ivanhoe boss said he’d pay higher taxes in Congo if it benefits locals

Robert Friedland, founder and executive chairman of Ivanhoe Mines, said he would be happy to pay higher taxes if there is stability in Congo's rules and transparency in the accounting of those royalties.

Randgold doubles dividend as CEO charges against DRC mining code

Randgold boosted divvy to $2 a share, after a year of record production and soaring profits, but warned the good times may be over soon as it’s now facing demanding new regulations in Congo, one of its key jurisdictions.

Congo just gave the cobalt price another big boost

DRC stuns miners with immediate lifting of 10-year exemption for licensees, 50% tax on 'super-profits' and code permitting 5-fold increase in cobalt royalty.

Congo shocker fells Ivanhoe Mines stock

Vancouver-based company headed by billionaire mining financier Robert Friedland loses 11% of its value after DRC stuns with new mining code.

Randgold’s Kibali mine in DRC to achieve full production this year

Mine is on track to produce its target of 700,000 ounces of gold in 2018.

De Beers readies technology aimed at eliminating ‘conflict diamonds’

Firm is developing open platform that traces diamonds from mine to buyer.

Electric cars market threatened by potential cobalt tax hike in Congo

The nation, responsible for about two thirds of global output, plans to increase tax on cobalt to 5% from 2%.

BMW throws fuel on cobalt price fire: 'we'll need 10x as much'

“We’ve been intensively focusing on how to manage future cobalt supply for a year now. Before, it wasn’t clear just how quickly demand will accelerate.”