Category: Mining
CMOC’s Cobalt Earnings Jump as Prime Minister’s Mediation Attempt Falters
China Molybdenum (aka CMOC/China Moly), the Chinese minerals giant running one of the Democratic Republic of Congo’s largest cobalt mines, has reported record net profits of about $606 million for the first six months of the year. Profits are up 72% year-on-year, despite ongoing disputes between CMOC and Gecamines, the DRC’s ...
DRC Prime Minister to Intervene in Cobalt Dispute
Jean-Michel Sama Lukonde, the Prime Minister of the Democratic Republic of Congo, will host new negotiations between the state mining company Gecamines and the giant Chinese cobalt miner China Molybdenum (CMOC). The intervention is aimed at breaking the deadlock between the two, due ...
Will the DRC Prime Minister Break the Deadlock with China Moly? Mining Expert Géraud Neema Weighs In
1. What are the politics behind these talks that we’re not seeing? Geraud Neema: There is a stalemate between the parties namely CMOC on one side and Gecamines executive, TFM temporary administrator, and the revision committee on the other. Through political ...
In Zimbabwe, An Aborted Quarry Shows Need for Community Consultation
By Deogracias Kalima At the center of Mutare in eastern Zimbabwe rises Dangamvura Mountain. Dividing the city center from its southern suburbs and home to a cemetery for state heroes, it is a revered landmark traditionally considered sacred by local communities. ...
It’s Been a Downright Terrible Week For Two of China’s Most Important Mining Ventures in Africa
Two of China's largest and most important mining ventures in Africa, one in Guinea and the other in the Democratic Republic of the Congo, face the real possibility of being shut down after years of contentious relations with their local partners. ...
Forget Cobalt, Lithium is the Key Strategic Resource
Tesla's across-the-fleet price increase this month was due in part to supply constraints of key metals used to manufacture electric vehicle batteries, specifically lithium. While the price of cobalt and nickel have steadily fallen this year due to ample supplies from places ...
Chinese Tech and Mining Companies Team Up to Build First 5G Connected Mine in Southern Africa
The South African subsidiary of Chinese mining giant Zijin will build southern Africa's first-ever 5G connected mine using Huawei technology. South Africa Zijin Platinum contracted with SA telco major MTN to build the Huawei network at the Limpopo mine in northern ...
U.S. Forms Coalition to Break China’s Hold on Critical Mineral Supply Chains
The United States, along with partner countries in North America, Europe, and Asia unveiled a new Mineral Security Partnership (MSP) pact earlier this month that aims to challenge China's control of supply chains for critical resources like cobalt and rare earths.
COVID Lockdowns Hit Cobalt Prices
Chinese cobalt prices fell about 13% from a peak in May as China’s ongoing COVID lockdowns hit demand for electric vehicles. The dynamic reveals a gap between the Chinese domestic price for the metal and how that price is calculated globally. The ...
Who is behind China Molybdenum in the Democratic Republic of Congo?
Who exactly is controlling the Democratic Republic of Congo’s Tenke Fungurume Mine (TFM), one of the largest copper and cobalt mines in the world, remains a mystery. Officially, the Chinese mining giant China Molybdenum (CMOC) is in a partnership with the DRC’s state-owned mining company Gécamines ...
Tibor Nagy’s Disingenuous Questioning of Chinese Mining Investments in Africa
Like an inquisitor against a backdrop of anti-Chinese criticism, former U.S. Undersecretary of State for Africa Tibor Nagy posted a tweet questioning China's role in the African mining sector: https://twitter.com/TiborPNagyJr/status/1533171803719450625 ...
New Mining Project in Eritrea Proves Again China Willing to Invest Where Others Dare Not
A new half a billion-dollar mining project in Eritrea reaffirms China's reputation for investing in countries that others find too risky. China's ambassador to Asmara, Cai Ge, led a groundbreaking ceremony last week for new copper, zinc, and ore mine in ...