Ghanaian President Nana Akufo-Addo issued a firm warning: stop expecting supercharged profits from Africa’s mineral riches.
DRC Mining News
Is the LME trying to create a reputational green wash that allows it to say its members source responsibly because they tick some boxes?
The founder of Ivanhoe Mines said the Kamoa-Kakula project is “on track to become one of the absolute greatest copper mining complexes in the world.”
Production of cobalt, used in batteries for EV's, reached 42,200 tonnes in 2018 while copper hit 1.453 million tonnes.
The company is currently drilling close-spaced holes at the new discovery to better understand its controls and orientation.
While lithium spot prices moved only one way in 2018, cobalt experienced more of a rollercoaster ride.
"Historically it was a world-class producer, so we know cobalt is there."
“We don’t believe that threatening one’s partner is a constructive way to go about solving problems.”
Company has agreed to buy BHR Newwood DRC Holdings Ltd, a holding company set up by private equity firm BHR to buy a 24% stake in the Congo mine in 2017.
The carmaker will use a blockchain-based platform to trace supplies of cobalt from a Chinese-owned mine in the Congo for the batteries in its electric cars, in an effort to ensure they are not linked to human rights abuses.
Societe Miniere de Bisunzu (SMB), has given 30 days notice to end its contract with ITSCI, a responsible supply chain initiative, citing the scheme's rising costs.
Barrick now trades as GOLD in New York and continues as ABX in Toronto.
This weekend, the vast central African nation is banking on a new method: the ballot box.
The punishment from the OSC is a response to false accounting from Katanga that saw it overstate how much it mined in the Democratic Republic of Congo in 2014.
The DRC has a stranglehold on crucial battery material cobalt, but central African nation also has potential to become major lithium player.
The state miner is moving to increase its take from joint ventures with international miners such as Glencore and China Molybdenum, which it accuses of not bringing enough money to the country.
Glencore’s coal business should be a license to print money for several more years.
Congo is Africa's top copper producer and mines more than 60 percent of the world's cobalt
Production sharing agreements align the interests of the two partners because the risk now weighs more on the investor than on Gecamines.
Company veteran and coal chief Peter Freyberg, has been appointed as the head of industrial mining assets, a newly created role.
Barrick Gold is interested in buying more copper mines in the Democratic Republic of Congo (DRC) - Incoming COO of Africa and the Middle East region
“They are taking unilateral decisions that we haven’t verified, that we haven’t certified” - Gecamines President, Albert Yuma
Exploration drilling at the Kamoa North prospect area, which forms part of the company's Kamoa-Kakula mining licence, has defined two new, continuous corridors of shallow and high-grade copper mineralization.
Glencore's suspension of Congo exports shows how cobalt production expansion plans can go awry.
The temporary suspension comes as Katanga found excessive levels of uranium in the mine's ore.