Category: Mining
South Africa’s SABC Tackles DRC-China Relations
While African broadcasters frequently cover Africa-China relations on talk shows, it’s rare to see African reporters covering the issue on location in other African countries. So it was notable to see South Africa’s state broadcaster, SABC News, produce a report from ...
Major Setback For Chinese Mining Interests in Guinea as Junta Suspends Simandou Iron Ore Project
China's long-term ambition to reduce its dependence on Australian iron ore suffered a major setback late last week when Guinea's ruling junta ordered the immediate suspension of all activities at the massive Simandou mine. Interim President Mamady ...
While Guinea’s Iron Ore Sales to China Stall, Bauxite Shipments Continue Apace
New shipments of Guinean bauxite arrived in China's northeastern rustbelt zone of Shandong province last week, helping to ease supply constraints of the essential ingredient used to manufacture aluminum. Guinea has emerged as a vital supplier to China ...
China Moly’s CEO is Back in the DRC For a Visit That Raises More Questions Than Answers
Sun Ruiwen, the powerful CEO of mining giant China Molybdnenum (aka China Moly) was back in Kinshasa this week for a low-profile visit with DR Congo Prime Minister Sama Lukonde. China Moly operates the Tenke Fungurume (TFM) mine, one ...
Nickel Trading Halted on the London Metals Exchange Following a Chinese Company’s $8 Billion Loss
Authorities at the London Metal Exchange took the unprecedented move to halt trading in nickel on Tuesday after prices for the metal doubled to $100,000 a ton. The sharp upsurge came in response to concerns over supply disruptions in Russia, one of the world's largest ...
DRC Opposition Leader Slams Sicomines Deal
While foreign mining companies are benefiting from the Democratic Republic of Congo’s minerals, its people get nothing. So says Adolphe Muzito (photo), the DRC’s former prime minister under Joseph Kabila from 2008 to 2012, and now an opposition politician. “The partnership between DRC and China … my ...
DRC Court Temporarily Halts China Molybdenum’s Control Over Massive Tenke Fungurume Cobalt Mine
A court in the Democratic Republic of Congo on Monday temporarily took away the control of the world’s second-biggest cobalt and copper mine from its Chinese owner. It appointed a temporary administrator to run the Tenke Fungurume mine for six months, sidelining the Chinese mining giant China ...
The China Moly Court Ruling in the DRC Shows That Tshisekedi is Still in Charge, Says Mining Expert
The decision by a commercial court in the southern DR Congo city of Lubumbashi to temporarily suspend China Molybdenum's (China Moly) management of the enormous Tenke Fungurume copper and cobalt mine (TFM) is the latest twist in an almost-year battle between the government and ...
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 90% of China's sourcing for the metal that's ...
EV Battery Metals: Chinese Mining Companies Moving Quickly to Close More Lithium Deals in the DR Congo
The Chinese Mining Company Suzhou CATH Energy Technologies closed a $240 million investment with Australia's AVZ Minerals for rights to the Manono lithium mine in the southern DR Congo. The Chinese company now has a 24% stake in the mine that ...
Fresh Indication Tshisekedi Wants to Get the DRC’s Ties With Chinese Mining Giants Back on Track
There's new evidence that the once combative relationship between DR Congo President Félix Tshisekedi and the large Chinese cobalt mining companies that operate in his country is getting back on track. On Sunday, the President spoke by phone ...
Lithium Follows Cobalt’s Lead With New Record Production Output
The surging demand for electric vehicles in China, the U.S., and Europe is powering new demand for lithium, a key ingredient used to make EV batteries. Global mined lithium production hit a record high in 2021 of 100,000 tonnes (excluding the ...