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13.03.25 - 09:27
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EV-Critical Battery Metal Cobalt Soars As Congo′s Export Ban Disrupts Supply Chains (ZeroHedge)
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EV-Critical Battery Metal Cobalt Soars As Congo's Export Ban Disrupts Supply Chains
The Democratic Republic of Congo's four-month suspension of cobalt exports has driven up prices of the critical metal, which is heavily used in lithium-ion batteries—the backbone of the renewable energy industry.
New Fastmarkets data shows that a pound of cobalt hydroxide—the main product exported from the DRC, the world's top producer—has surged 84% since the DRC suspended exports last month to counter a market glut that had pressured prices to multi-year lows. Prices reached $10.50 per pound on Tuesday, the highest level since July 2023. The price of cobalt metal has also soared 43%
Chart courtesy of Bloomberg.
Telf AG, the marketing agent for cobalt mined in the DRC by Eurasian Resources Group, has invoked force majeure clauses in its supply contracts, allowing it to suspend deliveries due to the export ban outside its control.
Telf told customers that the impact ban is still being assessed...
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26.02.25 - 11:01
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Kongo unterbricht den Export von Kobalt (Electrive)
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Wegen eines Überangebots an Kobalt hat die Demokratische Republik Kongo, der weltweit größte Kobaltproduzent, ein Exportstopp für das Metall erlassen, das ein wichtiger Rohstoff für Elektroauto-Batterien ist. Das Exportverbot soll mindestens vier Monate lang gelten....
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08.01.25 - 04:18
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Three Chinese Nationals Arrested In DR Congo With 12 Gold Bars And $800,000 In Cash Hidden (ZeroHedge)
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Three Chinese Nationals Arrested In DR Congo With 12 Gold Bars And $800,000 In Cash Hidden
Three Chinese nationals have been arrested in eastern Democratic Republic of Congo with 12 gold bars and $800,000 in cash hidden beneath their vehicle seats, according to the BBC.
According to South Kivu Governor Jean Jacques Purusi, the arrests were kept secret following the recent release of other Chinese nationals accused of illegal gold mining.
Eastern DR Congo, rich in gold, diamonds, and battery minerals, has faced decades of instability due to exploitation by foreign groups and militia control of mines, where leaders profit by selling resources to middlemen.
Governor Purusi revealed the arrests were kept secret due to ties between some metal dealers and powerful figures in Kinshasa. Acting on a tip, authorities discovered gold and cash after a thorough vehicle search near the Rwandan border but did not disclose the gold's exact quantity.
The BBC report noted that last month, Purusi expressed out...
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