R/€ = 16.09 Change: -0.08
R/$ = 14.36 Change: -0.10
Au 1272.11 $/oz Change: -1.50
Pt 890.72 $/oz Change: -5.16

Cobalt News

Red Rock raises cash to advance DRC exploration

By: Creamer Media Reporter      Updated 2 hours 34 minutes ago Aim-listed Red Rock Resources has raised £323 750 through the placing of 63.48-million new ordinary shares at 0.51p. "The placing ensures the company can manage its cash flow prudently while driving an increased tempo of exploration in the [Democratic Republic of the Congo (DRC)] as the scale of... 

Fortune finds potential new site for Nico refinery

By: Creamer Media Reporter      Updated 3 hours ago Cobalt project developer Fortune Minerals has entered into an option to buy an alternative site to construct the proposed hydrometallurgical refinery that will process metal concentrates from the planned Nico cobalt/gold/bismuth/copper mine, after the rural municipality of Corman Park last month... 

BMW to buy cobalt direct from Australia, Morocco for EV batteries

By: Reuters     Updated 4 hours ago German carmaker BMW will buy cobalt, a key component for electric vehicle (EV) batteries, directly from mines in Australia and Morocco to ensure they are not produced by child labour, an executive said on Tuesday. The announcement came as the London Metal Exchange (LME) launched an initiative... 

Global Witness welcomes LME’s new responsible sourcing rules 

By: Marleny Arnoldi     23rd April 2019 International nongovernmental organisation (NGO) Global Witness has welcomed the London Metal Exchange’s (LME’s) new responsible sourcing rules, which were published for public consultation on Tuesday. The exchange’s responsible sourcing roadmap is intended for LME-listed brands and builds on a... 

Global Witness welcomes LME’s new responsible sourcing rules

Glencore’s Jeff Gerard appointed Katanga CEO

By: Simone Liedtke     18th April 2019 TSX-listed Katanga Mining, a unit of Glencore, on Thursday announced that Glencore International’s Jeff Gerard would succeed Danny Callow as CEO of the company, effective May 2. Gerard’s appointment follows the signing of a management services agreement between Katanga and Glencore in January.... 

Moroccan miner Managem considering raising $200m in bond sales

By: Reuters     17th April 2019 Morocco's leading mining firm Managem says it is considering raising $200-million through the sale of nonconvertible bonds with a maturity of up to seven years, to fund its development plans. The terms of the issuance will have to be approved by its general assembly on May 6, Managem said in a... 

Katanga Mining resumes cobalt exports from DRC

By: Reuters     15th April 2019 Katanga Mining, a unit of Glencore, said on Monday it resumed exporting and selling a limited quantity of cobalt from its Kamoto project in the Democratic Republic of Congo. The company said in November it had temporarily suspended the export and sale of cobalt from the project after uranium was... 

Strike ends at Sierra Metals’ Yauricocha mine

By: Creamer Media Reporter      15th April 2019 A near-month-long labour strike over contractor changes at the Yauricocha mine, in Peru, ended at the weekend. Canada-based mining company Sierra Metals has said that an agreement was reached whereby no contractors dismissed as part of the contractor change will be reinstated, which was the... 

Arc to drill new targets at Zambia project

By: Marleny Arnoldi     12th April 2019 Aim-listed Arc Minerals has started an exploration programme at its Zamsort copper/cobalt project, in Zambia. This followed completion of an airborne geophysical programme. The exploration programme entails infill soil sampling over new targets, with 1 200 samples already completed, and... 

Demand for outsourced solutions rising in Africa

By: Jessica Oosthuizen     12th April 2019 Mineral discoveries in Africa have been on the increase in the past ten years and one of the major challenges for mines is finding expert solutions in countries that have developing mining ecosystems, says global boutique consultancy The Polyglot Group renewables and resources senior consultant... 

Demand for outsourced  solutions rising in Africa
JASON TODD In Africa, minimising risk is always high on the agenda

First Cobalt targets Canada plant restart within 2 years – CEO

By: Reuters     10th April 2019 First Cobalt aims to restart an idled cobalt refinery in Canada within two years and is in talks to supply the battery-grade product to four leading automakers, CEO Trent Mell said on Wednesday. The Toronto-based company is planning a $30-million revamp of the plant, located in the appropriately... 

First Cobalt targets Canada plant restart within 2 years – CEO
First Cobalt's refinery in Ontario.

Nearly 2 000 Zambian villagers can sue Vedanta in English courts – Supreme Court

By: Reuters     10th April 2019 Nearly 2 000 Zambian villagers have the right to sue mining company Vedanta in the English courts, London's Supreme Court said on Wednesday, raising the prospect other companies could face legal action in England related to their activities abroad. India-listed Vedanta, which delisted from London... 

How countries are getting tougher with mining companies

By: Reuters     4th April 2019 A mix of political populism, higher commodity prices and the expectation electrification will spur demand for some raw materials has led resource-holding governments to change the rules for miners operating in their countries. In most cases, governments are seeking to increase their share of... 

ERG joins UN Global Compact

By: Creamer Media Reporter      4th April 2019 Diversified natural resources group Eurasian Resources Group (ERG) has joined the United Nations Global Compact – the world’s largest voluntary corporate citizenship initiative. ERG has also undertaken to implement the compact's ten principles in the areas of human rights, labour the environment... 

Battery grade cobalt sulphate produced at Ontario refinery

By: Creamer Media Reporter      4th April 2019 Toronto-based First Cobalt has produced its first battery-grade cobalt sulphate at its refinery in Ontario, which CEO Trent Mell says is the company’s “most significant accomplishment” as the majority of the refined cobalt for the electric vehicle market is produced in Asia. “With no cobalt... 

Battery grade cobalt sulphate produced at Ontario refinery

Congo's public revenues from mining sector nearly double in 2018

By: Reuters     4th April 2019 Democratic Republic of Congo's mining sector paid $1.57-billion in revenues to the government last year, up 91% on 2017, finance ministry data showed on Wednesday. Public revenues from the oil and gas sector fell by 19% in 2018 to $165.6-million, according to the data. 

MMG joins Glencore, ERG in reviewing Congo plans after tax hike 

By: Bloomberg     4th April 2019 Yet another foreign miner in the Democratic Republic of Congo is reviewing its future production plans after the government increased taxes and removed investor safeguards despite industry protests. MMG, the Chinese-owned copper producer, is considering whether to invest in more expensive methods... 

MMG joins Glencore, ERG in reviewing Congo plans after tax hike
MMG's Kinsevere mine

African Battery Metals eyes development of Cameroon, DRC interests

By: Natasha Odendaal     3rd April 2019 Aim-listed African Battery Metals (ABM) is now continuing work across its Democratic Republic of the Congo (DRC) cobalt and Cameroon cobalt/nickel projects following a strategic review. The company intends using the data obtained to identify an optimal value generation pathway for the company and... 

Jervois gains US project with eCobalt merger

By: Esmarie Iannucci     2nd April 2019 ASX-listed Jervois Mining has struck a friendly merger agreement with TSX-listed eCobalt. Under the terms of the agreement, each eCobalt share will be exchanged for 1.65 common shares in Jervois, representing an implied offer price of C$0.36 a eCobalt share. 

Platinum ETFs hit record high, palladium seen as over-bought 

By: Martin Creamer     29th March 2019 Platinum-backed exchange traded fund (ETF) holdings increased for the ninth consecutive day yesterday reaching 2.96-million ounces, the highest level on record, the BMO Metals Brief noted on Friday. The report put out by BMO Global Commodities Research addedthat ETF inflows had been strong in the... 

Platinum ETFs hit record high, palladium seen as over-bought
Photo by Bloomberg
Platinum bar.

LME waives listing fees for cobalt brands for six months

By: Reuters     26th March 2019 The London Metal Exchange (LME) on Tuesday suspended listing fees for new cobalt brands for six months to encourage interest from producers of the element widely used in rechargeable batteries. The LME, the oldest and largest market for industrial metals, launched a cash-settled cobalt contract... 

Sumitomo says Ambatovy nickel plant shut for 2 weeks in February

By: Reuters     20th March 2019 Japanese trading house Sumitomo Corp said on Wednesday its Ambatovy nickel plant in Madagascar was forced to shut for about two weeks in early February due to trouble at its hydrogen plant, and may miss its revised annual production target. Sumitomo owns a 47.7% stake in Ambatovy, while South... 

Winmar buy gets back-up

By: Esmarie Iannucci     19th March 2019 An independent valuation of the Luapula processing facility, in the Democratic Republic of Congo, has estimated an asset value of more than $33.3-million, on an as-is basis. Cobalt hopeful Winmar Resources last year struck a deal with African Holding Investment Company to acquire a 50% interest... 

Junior miner gets new lease of life with successful refinancing process

By: Rebecca Campbell     15th March 2019 London AIM-listed junior miner African Battery Metals (ABM) announced early this month that it had successfully concluded its refinancing process. Last December, ABM was suspended from trading on the AIM because of its poor financial situation. At that time, its obligations to short-term... 

Huge demand for copper, cobalt, lithium and nickel in the offing as EV uptake increases

By: Tracy Hancock     15th March 2019 Investors focused on the mining sector may not fully appreciate how quickly the electric vehicle (EV) is being adopted globally, in light of the world pursuing a low-carbon emissions future, says battery metals investment vehicle Colbalt 27 Capital chairperson and CEO Anthony Milewski, who warns... 

Huge demand for copper, cobalt, lithium and nickel in the offing as EV uptake increases

Horizonte reports positive results from Vermelho testwork

By: Creamer Media Reporter      14th March 2019 Metallurgical and smelting test work conducted on dual-listed Horizonte’s Vermelho nickel/cobalt project has returned positive results, confirming the project’s potential to produce high-grade, commercial specification ferronickel from saprolite and transition ore. Vermelho is Horizonte’s second... 

Winmar hoping for first production in Q3

By: Esmarie Iannucci     12th March 2019 Cobalt hopeful Winmar Resources was hoping to start production from its Luapula processing facility, in the Democratic Republic of Congo (DRC), by the third quarter of this year. Winmar chairperson Jason Brewer told delegates at the Paydirt Battery Minerals conference that the start of... 

RBPlat reopens UG2 shaft, creates UG2 access points at Styldrift  

By: Martin Creamer     6th March 2019 Flexibility is a re-emphasised aspect of platinum group metals (PGMs) mining strategy. Changed demand has resulted in the need to twist and turn quickly to benefit from the rise in prices of metals in the PGM basket. Royal Bafokeng Platinum (RBPlat) CEO Steve Phiri made special mention of... 

RBPlat reopens UG2 shaft, creates UG2 access points at Styldrift
Royal Bafokeng Platinum CEO Steve Phiri talks to Mining Weekly Online’s Martin Creamer. Video: Nicholas Boyd. Video Editing: Christo Greyling.

Algorithms join hunt for cobalt backed by Gates, Bezos and Dalio

By: Bloomberg     4th March 2019 A coalition of billionaires led by Bill Gates has thrown its financial weight behind a startup hoping to build a "Google Maps for the earth’s crust" to hunt for new sources of cobalt. The startup, Kobold Metals, is using data-crunching algorithms to scour the globe for cobalt, in a bet that... 

Congo President supports predecessor's mining policies  

By: Bloomberg     4th March 2019 The Democratic Republic of Congo’s new President appeared to offer support to his predecessor’s defining mining policies, which are opposed by international investors active in the country. “We will clean up the business climate through the popularization of the new mining code and the conclusion... 

Sherritt’s Fort Saskatchewan reaches nickel production milestone

By: Creamer Media Reporter      1st March 2019 TSX-listed Sherritt’s Fort Saskatchewan metals refinery has reached a production milestone of producing three-billion pounds of nickel since operations started in 1954. “As one of Canada’s oldest mining companies, we are proud of this important milestone,” said David Pathe, CEO and President of... 

Glencore CEO is said to meet Congo leader after ties strained

By: Bloomberg     1st March 2019 Glencore CEO Ivan Glasenberg met the Democratic Republic of Congo’s new president this week, their first encounter since Felix Tshisekedi took office, according to people familiar with the matter. The meeting comes after relations between mining companies and the government deteriorated last... 

Glencore cites trade as its 'foremost risk', others rising

By: Reuters     1st March 2019 Miner and trader Glencore said trade barriers are its "foremost risk", but climate, political, legal and other risks had become more prominent. Glencore, said in its annual report published on Friday that it was seeking to mitigate these challenges through conservative spending and strict... 

How the cobalt market fell victim to the allure of electric cars

By: Bloomberg     1st March 2019 Cobalt prices were surging so much last year that thieves were carrying out elaborate heists at warehouses in Europe’s busiest port. Now, prices are in free fall and mining companies are taking the financial hit. The story of what happened is the classic boom-bust in commodities. In the case of... 

How the cobalt market fell victim to the allure of electric cars

ERG focused on advancing electric vehicle and battery industry

By: Mamaili Mamaila     1st March 2019 While some volatility is expected, there is optimism about the prospects of demand for cobalt and copper in 2019 which will be sustained in part by the advent of the Fourth Industrial Revolution (4IR), says diversified natural resources producer Eurasian Resources Group (ERG) CEO Benedikt Sobotka. 

ERG focused on advancing electric vehicle and battery industry
Benedikt Sobotka ERG remains committed to sourcing materials in a responsible and sustainable manner and raising the quality of life for local communities

Belgian fast-moving 'caterpillar' in deep sea copper, cobalt race

By: Reuters     27th February 2019 Belgian group DEME and Canada's DeepGreen are carrying out tests and research to collect nodules containing copper, cobalt and other minerals from the ocean floor, as a race to mine the depths gathers pace. Deep sea mining is often dismissed as unaffordable and environmentally hazardous because... 

Thackaringa tussle continues

By: Esmarie Iannucci     26th February 2019 The tug-of-war between joint venture (JV) partners Broken Hill Prospecting and Cobalt Blue over the Thackaringa cobalt project, in South Australia, has intensified. ASX-listed Broken Hill on Tuesday went to the market to reject claims by Cobalt Blue that its interest in the JV had fallen to... 

Fourteen NGOs oppose LME plans to ban tainted cobalt

By: Reuters     22nd February 2019 Fourteen non-governmental organisations (NGOs) including Amnesty and Global Witness have opposed plans by the London Metal Exchange to ban cobalt tainted by human rights abuses, a letter seen by Reuters showed. Cobalt is a key ingredient in the batteries that power electric vehicles, a... 

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