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Entreprise Generale du Cobalt to Start Buying Cobalt in Democratic Republic of Congo

Mining News - Published on Sat, 27 Jun 2020

Image Source: Cobalt DRC
Reuters reported that Democratic Republic of Congo will begin its state-controlled buying of artisanal cobalt in around two months, having been delayed by the novel coronavirus pandemic. DRC mines minister Willy Kitobo Samsoni told Reuters “We have to wait two months for the storage sites to be set up, for us to then mandate the launch of state buying of artisanal cobalt. We are in the phase of operationalisation, which has been slowed by COVID-19.”

Congo dominates global production of cobalt, the metal used in batteries. One fifth of the cobalt it produces is mined manually by subsistence or artisanal, miners. In January the government created the Entreprise Generale du Cobalt as a subsidiary of state mining company Gecamines to purchase and market all cobalt that is not mined industrially in an effort to exert greater influence over prices.

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Posted By : Yogender Pancholi on Sat, 27 Jun 2020
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