Tag: DRC
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Chinese Battery Giant CATL Bets on the Future of Cobalt By Buying a Big Chunk of CMOC
Strong demand for electric vehicles around the world helped to triple profits at Chinese battery giant CATL, the world's largest battery maker. The company is reporting that third-quarter profits for the year will reach $1.23 billion. CATL is going to use ...
China Sends High-Level Public Security Bureau Official to DR Congo For Talks on How to Better Protect Chinese Nationals
The Chinese government recently dispatched a high-ranking member of the powerful Ministry of Public Security (MPS) to the Democratic Republic of the Congo for talks with security officials on how to better protect Chinese nationals in the country. Liu Jiingjie, head ...
Chinese Embassy Meets With DRC Ministries About Attacks
The Chinese embassy in the Democratic Republic of Congo convened a meeting this weekend with several Congolese government ministries, including the ministries of Foreign Affairs, Defense, Interior, as well as immigration officials and the General Administration of the Police, to discuss ongoing attacks against Chinese residents in ...
China-DRC Military Cooperation?
The Defense Minister of the Democratic Republic of the Congo met with high-level officials from the Chinese embassy, including the military attache, to discuss possible Chinese support for the development of the DRC’s military industry. This follows the release of ...
China is Using its Cobalt Playbook to Corner Lithium Supplies
Chinese mining companies are moving quickly to snap up some of the world's largest lithium mines, mostly located in South America's so-called "Lithium Triangle" that stretches across Argentina, Bolivia, and Chile. Since 2018, Chinese companies have invested an estimated $16 billion ...
China’s Dominance of the Congolese Cobalt Sector May Not Actually Matter Much in the Near Future
The new U.S. climate law, officially known as the Inflation Reduction Act, has a number of provisions aimed at breaking China's hold on certain strategic resources like cobalt, widely seen as vital to the future of electric mobility. Cobalt is a ...
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 ...
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 ...
Why China Building a Small Power Plant in a Small Congolese Town is Such a Big Deal
A consortium of Chinese entrepreneurs based in Angola recently signed an agreement to build an electric power generation facility in the small Congolese city of Kenge, 269 kilometers west of the capital Kinshasa, according to Radio Okapi. Not much is known about ...
Worsening Criminal Attacks on Chinese in DRC
Attacks against Chinese nationals in the DRC’s mining provinces of Lualaba and Haut-Katanga are worsening. Chinese community groups have listed ten violent incidents in the region since late May. The city of Lubumbashi has seen most of the attacks, followed by Kolwezi. 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 ...