Signet Jewelers is the first diamond ornaments maker to join De Beers-led blockchain pilot program, Tracr.
DRC Mining News
It’s becoming hard to keep track of all of Glencore’s legal battles in the Democratic Republic of Congo.
WHO: Risk of international spread of deadly disease from Congo, responsible for 66% of global supply of critical battery raw material, is "very high".
The world’s largest rough diamond producer by value will launch the tracking platform later this year, making it available to the whole industry.
The miner and commodities trader is embroiled in a legal tangle over its copper and cobalt operations in Democratic Republic of Congo, where conflict and changes to regulations have deterred many mining firms.
Lack of new projects, investment deficit and increasing political risk will hit supply of cobalt, lithium, copper and nickel, key metals for making the batteries that power electric cars.
Shares fell as much as 3.9% after the company said late Friday that a Congolese court authorized bailiffs to freeze certain Glencore assets after Israeli billionaire Dan Gertler served orders on local units for almost $3 billion in damages.
Company said new technology will help the DRC mine achieve its 2018 production guidance of 730,000 ounces, despite challenges posed by the country's new mining code.
They said they expected authorities to realize the sliding scale they propose would be a more effective mechanism for the government to share in higher commodity prices than the windfall tax and strategic minerals scheme included in the new code.
The world’s top diamond miner will train artisanal and small-scale miners and provide them with tablets as well as a diamond “toolkit” to digitally track their stones throughout the supply chain.
Trafigura has already increased its foothold in nickel with an exclusive offtake agreement with Finland's Terrafame, that also produces zinc and cobalt.
Recurrent industrial action by the workforce of a subcontractor it's jeopardizing Tongon's 290,000-ounce production forecast.
The proposal, signed by companies responsible for 85% of the DRC's copper, cobalt and gold output, suggest that sliding royalties will give the government a higher share of revenues.
The man was digging a toilet in his backyard when his shovel struck a shimmering blue vein of cobalt... At least that’s the legend in Kolwezi.
DRC's resolve to overhaul mining code shouldn't have surprised the industry – Kinshasa's become too important to global supply for companies to pull sticks.
Glencore CEO flags China-Congo-cobalt nexus, responsible for 80% of global cobalt chemical production, a crucial ingredient of electric vehicle batteries.
Nervous Asian battery makers are turning to early-stage cobalt projects in Australia and Canada to lock in supplies of the critical battery ingredient ahead of expected shortages as demand for electric vehicles revs up.
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.
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.
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.
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.
Freeport is looking at other options for the asset, including possibly a joint venture to develop the large cobalt project.
The Swiss miner and commodities trader Glencore said its solid finances will let it to pursue more acquisitions if opportunities arise.
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?
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.