Who owns Gecamines?
Democratic Republic of Congo’s President Felix Tshisekedi named Alphonse Kaputo Kalubi as chairman of Gecamines, the state-controlled copper and cobalt mining company.
Is Gecamines state owned?
Gécamines is Democratic Republic of Congo’s state-owned mining company, founded in 1966. The company’s most productive period was during the mid-1980s. Since then, it has sold many of its assets and entered joint ventures with foreign partners.
Who owns Congo cobalt mines?
As of last year, 15 of the 19 cobalt-producing mines in Congo were owned or financed by Chinese companies, according to a data analysis by The Times and Benchmark Mineral Intelligence. The biggest alternative to Chinese operators is Glencore, a Switzerland-based company that runs two of the largest cobalt mines there.
What happened Katanga mining?
On June 4, 2020, Katanga Mining Limited (TSX:KAT) became a 100% Glencore group owned company and ceased to be listed on the Toronto Stock Exchange. On June 22nd, 2020, following Ontario Securities Commission’s order, the Company ceased to be a reporting issuer.
What is Sicomines?
The Sino Congolaise des Mines (Sicomines) was the most significant Chinese investment project in Africa when it was agreed in 2007. In exchange, China agreed to build much-needed infrastructure projects such as urban roads, highways and hospitals.
Where does China get its cobalt?
First, we find that China’s foreign cobalt ownership is predominantly in the Democratic Republic of the Congo, the largest source of cobalt mine and intermediate imports for China’s growing cobalt refinery industry.
Who owns Katanga Mining?
Glencore
Glencore International AG
Katanga Mining/Parent organizations
Katanga Mining Ltd is 86% owned by Swiss commodity trader Glencore.
What is the Sicomines deal?
In exchange for access to mining titles, Sicomines will construct transport and social infrastructure in the DRC, financed by loans from the state- owned Export–Import (Exim) Bank of China. The loans are to be reimbursed by means of the profits from the mining venture.
Who owns most of the cobalt mines?
Glencore is the world’s largest cobalt-mining company, with total production in 2017 of 27,400 tonnes, and plans to increase output to 63,000 tonnes by 2020.
Who is the largest cobalt producer in the world?
the Democratic Republic of Congo
The leading country in worldwide cobalt mine production in 2020 was the Democratic Republic of Congo, having produced an estimated 95,000 metric tons that year.