No.1 Cobalt Mining Nation Just Adopted A Dangerous Mining StHey all:
Further to earlier posting on CRU and LME mulling establishing Cobalt Sulphate indexes, check out this article
https://oilprice.com/Metals/Commodities/No1-Cobalt-Mining-Nation-Just-Adopted-A-Dangerous-Mining-Strategy.html Back from Myanmar and Mongolia. To find that one of the world’s fast-growing mining trends has taken another twist this week.
As I’ve been discussing for several months, governments in mining nations globally are obsessing about “value-added” production. Demanding that miners upgrade and refine metals in-country, instead of exporting lower-value products like concentrate.
And this week, another government got on that bandwagon. In the world’s top cobalt-producing nation: the Democratic Republic of Congo.
Officials from that government confirmed they have directed key copper and cobalt miner Sicomines to stop exporting unfinished mineral products. With sources saying that numerous trucks carrying copper concentrate and lower-value cobalt hydroxide had been turned around en route to Zambia, where the metal is currently upgraded.
DR Congo’s Mines Minister Martin Kabwelulu added that Sicomines will now be required to export “only high-value products”. Suggesting that the government is looking for the firm to build in-country refineries — which currently don’t exist. ........
This is another great reason for FT to reconsider their strategy for mine operations at NICO.
Yellowknifer