The DRC is the world’s prime cobalt-producing nation, so it’s no shock that the most important cobalt mines are positioned within the nation.
Curiosity in cobalt has elevated in recent times as a consequence of its use within the lithium-ion batteries used to energy electrical automobiles.
The Democratic Republic of Congo (DRC) is the world’s largest producer of cobalt by far, with its output reaching 95,000 tonnes final 12 months — virtually 60 p.c of world provide.
For buyers who wish to study extra in regards to the sector, right here’s an outline of the world’s largest cobalt mines, in line with the latest knowledge from S&P International Market Intelligence.
1. Kamoto
Complete 2020 manufacturing: 23,900 tonnes
The Kamoto copper-cobalt mine, which is positioned within the DRC province of Katanga, is operated by Glencore (LSE:GLEN,OTC Pink:GLCNF) subsidiary Katanga Mining.
Katanga’s cobalt manufacturing was up 40 p.c in 2020 over the earlier 12 months. Manufacturing at Kamoto has been incrementally growing since business operations first started in 2007.
In early 2021, Glencore inked a 5 12 months provide contract for cobalt hydroxide from Kamoto with cobalt refiner First Cobalt (TSXV:FCC,OTCQX:FTSSF).
2. Tenke Fungurume
Complete 2020 manufacturing: 15,440 tonnes
Tenke Fungurume, positioned within the DRC’s Lualaba province, is 80 p.c owned by China Molybdenum (OTC Pink:CMCLF,SHA:603993) and 20 p.c owned by state mining firm Gecamines.
Tenke Fungurume has been struggling to fulfill manufacturing targets as a consequence of falling steel costs mixed with greater taxes and royalties within the African nation. Manufacturing in 2020 fell by greater than 650 tonnes from 2019 ranges. Along with its cobalt output, the mine is the DRC’s largest copper producer.
3. Metalkol RTR
Complete 2020 manufacturing: 10,500 tonnes
The Metalkol RTR hydrometallurgical cobalt and copper facility, which is positioned within the DRC’s Haut-Katanga province, is operated by Eurasian Sources Group (ERG) Africa.
Metalkol RTR reprocesses historic cobalt-copper tailings that had been gathered over a long time of mining by earlier operators. This contains the prevailing Kingamyambo tailings deposit and people within the Musonoi River. The purpose is to scale back native air pollution by relocating legacy tailings to a responsibly managed facility.
ERG has dedicated to the Accountable Minerals Assurance Course of, a part of the Accountable Minerals Initiative. The corporate is concerned in ending baby labor within the DRC’s mining trade.
4. Etoile
Complete 2020 manufacturing: 7,000 tonnes
In 2003, personal firm Chemaf was granted the mining rights to Etoile, which produces copper and cobalt oxides and sulfates. Artisanal miners labored the realm till 2000, when the Ruashi-Etoile concession, positioned within the DRC’s Katanga province, was divided and provided to non-public buyers.
Chemaf, which is owned by Shalina Sources, can be establishing a processing plant to supply as much as 16,000 tonnes of cobalt at its Mutoshi mine in Katanga province.
5. Luiswishi
Complete 2020 manufacturing: 5,390 tonnes
The Luiswishi copper-cobalt mine, which can be positioned within the DRC’s Katanga province, is a medium-size open-pit mine near the province’s capital metropolis.
The location was one of many first cobalt mines within the area, with manufacturing relationship again to 1900. In the present day, the mine is owned by Chinese language agency Congo Dongfang Worldwide Mining. The corporate reportedly invested US$147.2 million within the undertaking in 2018.
Different prime cobalt-producing mines
The mines listed above are simply 5 of the 15 top-producing cobalt mines, in line with S&P International Market Intelligence. Rounding out the highest 10 are:
- three DRC mines — Ruashi (5,090 tonnes in 2020), Lubumbashi Slag Hill (4,000 tonnes) and Mutoshi (4,000 tonnes)
- Cuba’s Moa Bay (3,370 tonnes)
- Papua New Guinea’s Ramu (2,940 tonnes)
The final 5 on the record aren’t far behind Ramu:
- Australia’s Murrin Murrin mine (2,900 tonnes)
- Madagascar’s Ambatovy (2,860 tonnes)
- Russia’s Polar Division (2,700 tonnes)
- the Phillipines’ Taganito (2,550 tonnes)
- Morocco’s Bou-Azer (2,420 tonnes)
That is an up to date model of an article first printed by the Investing Information Community in 2019.
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Securities Disclosure: I, Melissa Pistilli, maintain no direct funding curiosity in any firm talked about on this article.