WEEK IN REVIEW: Chinese Mining Giant CMOC Surpassed Swiss Rival Glencore to Become Largest Cobalt Producer in DRC

Local workers at the massive Chinese-owned Tenke Fungurume copper and cobalt mine in the Democratic Republic of Congo. Image: Emmet Livingstone / AFP

Chinese mining giant CMOC surpassed its Swiss rival Glencore to become the largest cobalt producer in the DR Congo. The Chinese company boosted production from its Congolese mines in 2023 by 170%. The production surge helped to depress cobalt prices that slumped 30% last year: (BLOOMBERG)

Iran is withholding oil shipments to China, its larger customer, as part of an effort to boost the price of its crude. Tehran’s national oil company is reportedly reluctant to sell deeply-discounted oil to China’s independent refiners and hopes holding back shipments will force them to pay more. (REUTERS)

  • Get a daily email packed with the latest China-Africa news and analysis.
  • Read exclusive insights on the key trends shaping China-Africa relations.
  • Full access to the News Feed that provides daily updates on Chinese engagement in Africa and throughout the Global South.

China, Africa and the Global South... find out what’s happening.

Subscribe today for unlimited access.

OR

Already a subscriber? Log in Click Here to Learn More
by Eric Olander

Most Read

1
Developing Countries’ Debt Servicing Costs to China Are Significant, but Nowhere Near as Much as Other Creditors
2 Chinese Military Fans Discuss Why Indonesia Bought Rafale Instead of J-10C
3
Chinese Cargo Planes Secretly Ferrying Supplies to Iran, Claim Online Sleuths
4 Trump’s Contradictory Iran Strategy Leaves U.S. Weaker After War’s End, Says Chinese Commentator
5
Indonesia Goes Nuclear, Taps China and Russia for Modular Reactors
6
Indonesia Begins $5.9 Billion Chinese EV Battery Project Despite Environment Fears

You Might Like

With New Lockdowns in South Africa Threatening to Slow Cobalt Exports to China, Prices For the Strategically Important Metal Are Going Up

Investors are becoming increasingly worried that South Africa’s recent decision to close 20 land ports will adversely impact the flow of cobalt from mines in the DR Congo to customers in China. President ...

African Iron Ore Producers Poised to Benefit From Supply Constraints Brought on By Disruptions in Australia and Brazil

Strong demand from Chinese steel mills, combined with supply disruptions in two of the world’s largest iron ore producing countries, Brazil and Australia, will help to maintain near record-high ore prices, according to ...

The DRC is Now a Major Focal Point in China’s Trade With Africa

Last week’s announcement by China Moly that it will invest $2.5 billion to expand its mining operations in the DR Congo highlights the growing importance of the DRC to China’s broader trade agenda ...

Cobalt Prices in China Surge Due to Supply Chain Problems in the DRC and South Africa

Cobalt prices jumped to a three-year high in Chinse trading this month due to mounting concerns over shipment delays in the DR Congo-to-South Africa supply chain. Shipments from the DR Congo account for ...

What is The China-Global South Project?

Independent

The China-Global South Project is passionately independent, non-partisan and does not advocate for any country, company or culture.

News

A carefully curated selection of the day’s most important China-Global South stories. Updated 24 hours a day by human editors. No bots, no algorithms.

Analysis

Diverse, often unconventional insights from scholars, analysts, journalists and a variety of stakeholders in the China-Global South discourse.

Networking

A unique professional network of China-Africa scholars, analysts, journalists and other practioners from around the world.

More about CGSP