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Cobalt News

Cobalt explorers see Congo mine law offset by price, high grades

By: Bloomberg     21st June 2018 Junior miners exploring for cobalt in the Democratic Republic of Congo (DRC) reckon increased prices and the country’s high-grade deposits will offset the added costs of new legislation larger companies have opposed. Congo, the world’s largest source of the metal, this month began implementing an... 

Brixton to spin out cobalt assets into standalone battery metals company

By: Mariaan Webb     20th June 2018 TSX-V-listed Brixton Metals has announced its intentions to spin out its past producing cobalt projects in Ontario into a standalone listed company, which will also focus on other battery metals, including vanadium. The potential spinout, announced on Wednesday, aims to tap into the strong growth... 

China marks cobalt, copper ascendancy in Congo with new group

By: Bloomberg     19th June 2018 More than 30 Chinese companies active in the Democratic Republic of Congo formed a business association backed by both countries’ governments, further cementing China’s ascendancy in copper and cobalt production in the central African nation. The 35-member Union of Mining Companies with Chinese... 

Cobalt stocks in China set for new surge as EV boom rolls on

By: Bloomberg     19th June 2018 A slump in cobalt prices and the shares of Chinese refiners may provide an ideal bargain-hunting opportunity for investors seeking a piece of the action as Asia’s top economy leads a global boom in electric vehicles. Cobalt sulfate, a chemical used in batteries, has dropped more than 20% since... 

RNC to withdraw $12m from Dumont JV

By: Mariaan Webb     18th June 2018 Diversified miner RNC Minerals on Monday said that it would withdraw $12-million in capital from the Dumont joint venture (JV), in lieu of the debt extension and equity raise that it announced at the end of May. CEO Mark Selby explained in a news release that the cash withdrawal would avoid an... 

PEA completed for South America’s ‘most advanced’ PGM project

By: Creamer Media Reporter      18th June 2018 A preliminary economic assessment (PEA) for the Pedra Branca platinum group metal (PGM) project, in north-eastern Brazil, has confirmed the economic potential of the project, which Aim-listed Jangada Mines says is South America’s largest and most advanced PGMs play. The PEA has assigned a net... 

Arc buys a further 6% stake in Zamsort

By: Creamer Media Reporter      18th June 2018 Aim-listed Arc Minerals has acquired a further 6% interest in Zamsort, which is developing a copper/cobalt project in Zambia, from two separate shareholders. It now holds a 61% interest in Zamsort. 

Glencore’s DRC settlements should allay fears about asset seizure – analyst

By: Chanel de Bruyn     15th June 2018 Diversified miner Glencore’s settlement, this week, of various disputes with entities in the Democratic Republic of Congo (DRC), should allay investor concerns about the risk of a seizure of its DRC assets, says Goldman Sachs. Glencore, led by CEO Ivan Glasenberg, on Friday announced that it had... 

Glencore’s DRC settlements should allay fears about asset seizure – analyst
Photo by Bloomberg
Glencore CEO Ivan Glasenberg

Gecamines says Glencore deal to yield billions for Congo State

By: Bloomberg     15th June 2018 A settlement between a Glencore unit and Democratic Republic of Congo’s State-owned Gecamines will contribute-billions of dollars of revenue to the government over the next decade, an official said. Glencore reached a deal with Gecamines on Tuesday to end a legal dispute over Kamoto Copper, which... 

Glencore says settled Congo mining dispute

By: Reuters     15th June 2018 Miner and commodities trader Glencore has settled its Congo mining dispute with two companies associated with Israeli billionaire Dan Gertler by agreeing to pay royalties in a currency other than US dollars, Glencore said on Friday. US sanctions on Gertler, Glencore's former Israeli partner in... 

Glencore says settled Congo mining dispute
Glencore subsidiary Katanga Mining's operations in the DRC.

Fortune may defer Saskatchewan metals processing plant

By: Mariaan Webb     14th June 2018 Project developer Fortune Minerals may defer its planned metals processing plant near Saskatoon, Saskatchewan, and may opt to sell concentrates from the flagship Nico mine directly to third parties, the company said on Thursday. The London, Ontario-based company has approval for a $200-million... 

Gecamines plans to renegotiate with foreign partners

By: Reuters     14th June 2018 Democratic Republic of Congo State miner Gecamines has called on its foreign partners to renegotiate the terms of joint ventures it considers to be unfair, its chairman said on Thursday. Heavily in debt and with dwindling output, Gecamines has long complained about its joint venture terms. It... 

Gecamines plans to renegotiate with foreign partners

Cobalt hunt takes Aussie explorer to forest on BMW's doorstep

By: Bloomberg     13th June 2018 The search for cobalt, a key component of the battery-powered auto fleets of the future, has arrived on BMW AG’s doorstep with a discovery of an ore deposit not far from the plant where the German manufacturer makes its i3 electric city car. The cobalt find in a forested section of Saxony’s... 

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

By: Bloomberg     13th June 2018 The options for mining companies battling new legislation in the Democratic Republic of Congo -- Africa’s biggest copper producer and the source of two-thirds of the world’s cobalt -- have just about run out. After six months of lobbying, companies including Glencore and Randgold Resources have... 

Glencore’s Katanga resolves debt dispute with Gécamines

By: Marleny Arnoldi     13th June 2018 Diversified miner Glencore’s Katanga Mining subsidiary has settled its legal dispute with Democratic Republic of Congo (DRC) State-owned trading and mining company La Générale des Carrières et des Mines (Gécamines).  

Glencore’s Katanga resolves debt dispute with Gécamines
Machinery is seen at the Gecamines' copper plant in Kambove.

Mining companies combating malaria scourge – ICMM

By: Martin Creamer     13th June 2018 Mining companies are taking firm steps to help combat the scourge of malaria, which affects 3.3-billion people worldwide and kills a child every 30 seconds. International Council for Mining and Metals (ICMM) health, safety and product stewardship director John Atherton reports that: 

Mining companies combating malaria scourge – ICMM
International Council for Mining and Metals (ICMM) health, safety and product stewardship director John Atherton.

Bluebird to acquire another Australian cobalt project

By: Anine Kilian     12th June 2018 TSX-listed Bluebird Battery Metals has entered into a binding letter of intent to acquire 100% of the rights, title and interest in the granted exploration licences of the Ashburton cobalt project, in Western Australia.   “A key reason we selected the Ashburton project, other than the style and... 

South Africa’s ‘Samcodes way’ a world-beater – Mullins

By: Martin Creamer     12th June 2018 South Africa has succeeded in creating a meticulous set of mineral reporting codes that continue to gain international recognition. The South African Mineral Reporting Codes (Samcodes), which protect investors, are currently so highly regarded that in October South Africa will host a large... 

South Africa’s ‘Samcodes way’ a world-beater – Mullins
Photo by Dylan Slater
Samcodes standards committee chairperson Matt Mullins (left) and Mining Weekly Online's Martin Creamer

Cobalt battery boom wavers as prices slide in top user China

By: Bloomberg     11th June 2018 Cobalt is facing its first major test since an impending demand boom from electric vehicles triggered a two-year surge, with prices retreating in top consumer China amid signs there’s still enough material to go around. The price for cobalt sulfate – the chemical form used in car batteries and... 

Vale is said to reach $700m deal to sell cobalt output

By: Bloomberg     11th June 2018 Vale SA reached an agreement to sell future production of cobalt as battery makers look to shore up supply of the metal amid a nascent electric-vehicle boom, people with knowledge of the matter said. The deal is for about $700-million of cobalt produced at the Voisey’s Bay complex in Canada that... 

Vale is said to reach $700m deal to sell cobalt output
Photo by Vale
Voisey's Bay mine and concentrator in Newfoundland and Labrador.

Glencore faces new legal challenge against Congo cobalt mine  

By: Bloomberg     8th June 2018 For Glencore in the Democratic Republic of Congo, problems don’t form an orderly queue: they pile up on top of each other. In the latest example of the commodity giant’s deteriorating relationships in the country, a convicted fraudster has resurrected a legal claim the company considered dead,... 

Glencore faces new legal challenge against Congo cobalt mine

Lithium price may soften this year on ‘slight oversupply’ but EVs driving future optimism

By: Henry Lazenby     8th June 2018 The lithium price might be in for a rough ride this year, as a supply response might overshoot what the market actually needs, London-based pricing intelligence firm Metal Bulletin’s head of research William Adams tells Mining Weekly in an interview. “We see a slight lithium surplus coming this... 

Lithium price may soften this year on ‘slight oversupply’ but EVs driving future optimism

BlueBird to acquire Oberon Gold to expand Australia portfolio

By: Marleny Arnoldi     7th June 2018 TSX-listed BlueBird Battery Metals has entered into a binding letter of intent to acquire 100% of Australian exploration company Oberon Gold from Providence Gold and Minerals.  

No let up on calls for flow-through model to boost exploration

By: Martin Creamer     7th June 2018 The failure to raise risk capital for greenfields exploration in South Africa was highlighted at this week’s Junior Indaba, where there was no let up on calls for the adoption of a proven Canada-type flow-through share scheme, and ongoing criticism of the unintended consequences of South Africa’s... 

No let up on calls for flow-through model to boost exploration
Photo by Wynand van der Merwe
JSE business development manager Patrycja Kula-Verster

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

By: Reuters     7th June 2018 Democratic Republic of Congo's prime minister will sign into law on Friday regulations to immediately implement a new mining code without any concessions to industry demands that key provisions be amended, the mines minister said on Thursday. The move could set off a legal battle between the... 

LME says plans to launch about 15 new contracts in January 2019

By: Reuters     7th June 2018 The London Metal Exchange (LME) plans to launch around 15 new contracts from next January, including cash-settled cobalt and hot-rolled coil steel contracts, an executive said on Wednesday. "We will put in place the technical capabilities by November and then we'll launch them from January,"... 

Battery metals industry dependent on ‘flavour of the month’

By: Simone Liedtke     6th June 2018 With nearly every forecast predicting higher battery use in the years ahead, especially lithium-ion batteries to power new and existing technologies, demand for its component metals may be dependent on what some title “the flavour of the month”. 

Battery metals industry dependent on ‘flavour of the month’
Photo by Dylan Slater
IDC senior project development manager Bertie Strydom

Congo mining revenues triple in Q1; oil revenues down 11%

By: Reuters     6th June 2018 Democratic Republic of Congo's (DRC's) revenues from its mining sector tripled year-on-year in the first quarter of 2018 to $397.86-million, finance ministry data showed. Revenues from the oil and gas sector dropped 10.87 percent year-on-year in the first quarter to $29.45-million, according to... 

Current mining ‘boom’ very different to last one – CRU

By: Martin Creamer     6th June 2018 A return of capital expenditure (capex) and inorganic sources of growth are seen as a key corporate priority for 2018 and beyond, CRU Group senior consultant Aleksander Popovic said on Wednesday. The provider of marketing intelligence to mining told the Junior Indaba that the company’s... 

Current mining ‘boom’ very different to last one – CRU
Photo by Dylan Slater
CRU Group senior consultant Aleksander Popovic

Trilogy reports maiden cobalt resource estimate for Alaska project

By: Anine Kilian     6th June 2018 Alaska-focused mineral explorer Trilogy Metals on Monday reported a maiden 77-million-pound cobalt resource for its Bornite project. The resource estimate used assay data from drill holes completed by the company between 2011 and 2013 and re-sampled historic holes drilled in the 1960s and 1970s. 

ABM completes two auger programmes at DRC project

By: Simone Liedtke     5th June 2018 Aim-listed African Battery Metals (ABM), which has set its sights on becoming a significant explorer, developer and miner of battery minerals, has completed two auger programmes that collected soil samples at its 53 km2 Kisinka permit area, in the Democratic Republic of Congo (DRC). After... 

Arc Minerals lifts Zamsort stake to 55%

By: Simone Liedtke     5th June 2018 Aim-listed Arc Minerals has increased its interest in Zamsort, which is developing a copper/cobalt project in north-west Zambia, to 55% following the acquisition of a 6% interest from Terra Metals. The company will issue 17.5-million new ordinary shares, which are also subject to a hard lock-in... 

Cruz to acquire base metals projects in Norway

By: Creamer Media Reporter      4th June 2018 TSX-V-listed Cruz Cobalt has signed a letter of intent with EMX Royalty and Fennoscandian Investment Group to acquire two cobalt/nickel/copper projects in Norway. “We are pleased to have the opportunity to acquire these projects. The properties are 

Orion receives extended bridge loan term to progress Northern Cape projects

By: Marleny Arnoldi     1st June 2018 ASX- and JSE-listed exploration and development company Orion Minerals has received an extension on its $6-million bridge loan term from mining-focused private equity group Tembo Capital, from May 31 to September 30.  

Canada’s Nautilus aiming to start marine mining in 2019 despite enviro concerns

By: Dylan Slater     1st June 2018 Deep-sea mining is yet to become a major mining activity, and not much is known about undersea deposits of minerals. However, some role-players in the mining industry are claiming that the deep-sea floor could be host to an abundant and untapped resource of highly sought-after commodities, which... 

Canada’s Nautilus aiming to start marine mining in 2019 despite enviro concerns

Oil & gas, mining industries anxious about top brass succession planning

By: Henry Lazenby     31st May 2018 There is real anxiety in the oil and gas and mining industries regarding the lack of aptitude to replace an ageing top-level management talent pool, Stephen Diotte, partner and head of leadership services for Odgers Berndtson tells Mining Weekly Online. He recently joined the executive search... 

Oil & gas, mining industries anxious about top brass succession planning

Congo copper production in Q1 rises 8%; cobalt output up 34%

By: Reuters     31st May 2018 Democratic Republic of Congo produced 296 717 t of copper in the first quarter of 2018, up 8.2% over the same period last year, the central bank said in a report on Thursday. Cobalt production in the first quarter of 2018 rose 34.4% to 23 921 t, the bank said. 

Miners warn Congo it faces $3bn revenue loss over law

By: Bloomberg     30th May 2018 Mining companies in the Democratic Republic of Congo told the government it will lose more than $3-billion over a decade and face legal action if plans to implement a new industry code proceed. Miners including Glencore and Randgold Resources are demanding the government abandon aspects of the... 

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