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Reuters

Congo produces first 1,000 tons of traceable artisanal cobalt

Reuters · Just In
Reuters
Reuters
Just In

The state cobalt agency in Democratic Republic of Congo has produced its first 1,000 metric tons of traceable artisanal cobalt, a key step in formalizing the sector in a country that supplies much of the world's battery metal.

Breakdown
  • Congo produced its first 1,000 metric tons of traceable artisanal cobalt, marking a step toward formalizing the sector.
  • State-owned EGC aims to transform artisanal cobalt into a strategic asset and improve miners' pay and conditions. 19s
  • Congo holds about 72% of global cobalt reserves and supplies over 74% of the world's cobalt, much from informal mines. 52s
  • Global demand for cobalt is projected to rise 40% by 2030, increasing pressure for ethical sourcing. 1m 22s
  • Congo introduced export quotas to support prices after a ban, with cobalt prices more than doubling this year. 1m 58s
Mining & Resources