Chart illustrating the unprecedented pileup of ships waiting to enter Shanghai harbor. This logistics crisis is amplified by the situation in Durban.
Glencore, the world’s largest cobalt producer, announced that it can’t fulfill its delivery commitments for cobalt hydroxide out of the Democratic Republic of Congo, due to severe flooding in the South African port city of Durban. The majority of cobalt exports from the DRC depart the continent via Durban. Rail lines and logistics facilities at the port were damaged by unprecedented rainfall, which also killed about 450 people.
The Swiss mining company declared force majeure because of these port disruptions, rather than due to any production issues in the DRC. The port is a link in the global cobalt supply chain, which is crucial to making electric vehicle batteries. Most cobalt exports from the DRC (including that produced by Glencore) are exported to China, which houses the majority of the world’s refining capacity.
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Chinese trade with Africa rocketed up 24.5% in the first three months of 2022 compared to the same time last year, according to the new data released by China’s customs authorities. At a continental ...
South Africa’s key port of Durban is functional again after operations were disrupted by deadly flooding last week. The port now has to deal with a backlog of between 8,000 and 9,000 shipping containers. South Africa’s Minister ...
Portuguese construction major Mota-Engil outbid three Chinese state-owned companies, CITIC, Sinotrans, and CR20, to win a 30-year concession to operate the strategically important Lobito Corridor that connects the copper/cobalt belt in the southern ...
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