AVZ Discussion 2022
- Thread starter GazDix
- Start date
The Fox
Regular
DRC: Interested in Congolese lithium, the Chinese giant CMOC joins the project to produce electric batteries
MinesJuly 6, 2023The Congolese Minister of Industry, Julien Paluku Kahongya, met on Tuesday, July 04, in the Chinese city of Shanghai, with the President and CEO of CMO, Sun Ruiwen, with whom he exchanged on the electric battery project.
No official details leaked from this meeting. However, Julien Paluku Kahongya suggested that interested in the special economic zone of Lubumbashi in the province of Haut-Katanga and Lithium of the Democratic Republic of Congo, the company CMOC whose senior officials were received with those of CATL by the Head of State, Félix-Antoine Tshisekedi, last Saturday in Kinshasa, are more than committed to joining this ambitious project
On May 13, a working session on the ambitious battery industry project in the Democratic Republic of the Congo - Manono, between Minister Julien Paluku Kahongya, Li Changdon, representative of CATL - the world leader in electric battery production - and Sun Ruiwen, President and CEO of CMOC, was held in Kinshasa.
During Félix-Antoine Tshisekedi's stay in China at the end of May, the number one of CMOC met with a Congolese delegation led by the Congolese Minister of Mines, Antoinette N'samba, to whom he promised to take into account his request for Kasai nickel and that in addition to the creation of the two hydroelectric and photovoltaic power plants that will allow TF
During this meeting, Sun Ruiwen also indicated that his group would always work alongside the Congolese people represented by his dynamic President of the Republic to whom he wished "good luck to all his public policies".
Monge Junior Diama
BRICK
Top 20
Frank
Top 20
Julien Paluku welcomes the CATL-CMOC -RDC partnership in the manufacture of electric batteries
The Minister of Industry, Julien Paluku during his speech in Fuzhou, China.
Photo Third Party Rights.
Published on Wed, 05/07/2023 - 15:08 | Modified on Wed, 05/07/2023 - 15:09
On Tuesday, July 4, the Congolese Minister of Industry, Julien Paluku, welcomed the "win-win" partnership between CATL-CMOC and the DRC in the manufacture of electric batteries.
He said this during his visit to Shanghai (China) to the facilities of the company CMOC, specialized in the refinery of metals that are used in the manufacture of precursors of electric batteries.
"I am very happy to find myself here, because I am here after the President of the Republic Félix Tshisekedi received them (NDL: the representatives of two Chinese firms) in Kinshasa. So we will share around the vision of the President of the Republic who would like to develop a value chain for the entire battery industry in the DRC. We welcome the availability of CATL and CMOC to be able to accompany the Head of State in this great vision that wants to make the DRC the locomotive of the economy of all Africa..."
The city of Shanghai, the economic capital of China, was the last step in the economic mission of the Congolese Minister of Industry.
Last weekend, Julien Paluku reiterated his call to the CATL company to support the Congolese project to manufacture electric batteries.
Read also on radiookapi.net:
Julien Paluku encourages CATL to support the electric battery manufacturing project in Haut-Katanga
The DRC presents its industrialization master plan at the China-Africa Forum in Dakar
Frank
Top 20
China jumps ahead in the rush to secure lithium from Africa
China’s early move to tap new centers of lithium supply across Africa is reaping rewards, helping the top electric-vehicle battery producer navigate a tight market for the key metal.
Spurred by a flurry of investment from Chinese companies, mines across the continent are forecast to increase production of lithium raw materials more than 30-fold from last year’s volume by 2027, according to S&P Global Commodity Insights.
Africa will account for 12% of global supply by then, compared with 1% in 2022.
Diversifying supply sources will boost China’s efforts to defend its dominance in EV metals processing — transforming raw materials like lithium, nickel and cobalt into chemicals used in battery components — while the US ratchets up efforts to build out its own supply networks with free-trade partners and allies like Canada and Australia.
“It is a sure thing that Africa will play an important role for China,” particularly as an alternative source of raw materials to Australia, currently the top supplier and where exports could be constrained as domestic refineries come online, said Peng Xu, a Beijing-based analyst for BloombergNEF.
Mali, the Democratic Republic of Congo and Zimbabwe could all join the ranks of top mined-lithium producers by the end of the decade, according to BNEF data.
View attachment 39333
A first shipment of lithium concentrate reached Zhejiang Huayou Cobalt Co. last month from a Zimbabwe project, while Chengxin Lithium Group Co. said its Sabi Star lithium mine started production in the country.
Ganfeng Lithium Group Co. has invested in the Goulamina mine in Mali, while Contemporary Amperex Technology Co. has a unit that’s backed a project in the DRC. Sichuan Yahua Industrial Group Co. has a stake in a project in Ethiopia.
“Chinese investment in Africa is definitely the largest source of capital for battery material supply in recent years,” said Martin Jackson, London-based head of battery raw materials at CRU Group.
Investments in new regions are crucial for China’s supply chain to keep up with demand from its manufacturers, he said.
China’s battery producers, led by CATL and BYD Co., topped 1 terawatt-hours of production capacity in 2022 and are continuing to expand, BNEF said last month.
The US is also examining options for raw materials supply from Africa, but so far has only a few tentative plans, including preliminary cooperation agreements with the DRC and Zambia, said Alice Yu, a metals and mining analyst at S&P Global Commodity Insights.
“It will also take greater scrutiny for Africa to be included as a trade deal-friendly supplier,” she said.
View attachment 39332
Global supply of lithium raw materials is forecast to jump 35% this year, with about half that total coming from entirely new operations, BNEF said in a June 30 report.
The market for lithium resources will remain tight this year and in 2024, though it’s expected to ease from 2025 as more projects are commissioned, including across Africa and in Canada.
Still, nations in Africa are likely to follow other countries in seeking to keep more revenue from lithium supplies at home by adding processing or refining plants that can raise the value of exports.
Zimbabwe and Namibia have recently introduced measures to discourage or prohibit exports of raw lithium ore.
Morocco, which has a free trade agreement with the US, is already emerging as a potential hub for EV battery production, with advantages including its proximity to Europe and an abundance of phosphate needed in lithium iron phosphate, or LFP, cells.
The nation’s government earlier this year said Chinese battery manufacturer Gotion High-Tech Co. reached a preliminary deal to build Africa’s first major EV battery factory, which would have annual capacity of 100 gigawatts and require investment of €6 billion ($6.5 billion).
www.mining.com
Last edited:
Frank
Top 20
*Fyi, To add, Re:- The whole China v Africa thing, Check out what one "Not so Corrupt African Country" is up to, while back at Dodge City in the Dodgy DRC they're still sitting on their Despicably Corrupt Hands with their Heads up their Arses and Faces covered in Egg ffs
Huayou commissions $300 million Zimbabwe lithium plant
Zhejiang Huayou Cobalt on Wednesday commissioned a lithium concentrator in Zimbabwe as it seeks to consolidate its position as one of the world’s top battery materials producers.
Huayou acquired the Arcadia hard rock deposit, 40 kilometres outside Harare, from Australia-listed Prospect Resources for $422 million in April 2022.
The Chinese company invested a further $300 million to build a plant to produce 450,000 metric tons of lithium concentrates annually.
The Arcadia plant took nine months to construct and started exporting concentrates in April after the plant went into trial production, George Fang, Huayou vice president and chairman of the Zimbabwe unit, said in a speech to mark the commissioning.
“We have exported close to 30,000 metric tons. This equates to $40 million in revenue generation,” Fang said.
Zimbabwe’s President Emmerson Mnangagwa, who officiated at the commissioning, said the southern African country hopes its huge hard rock lithium resources will help revive its struggling economy.
“Lithium is a mineral of the present and the future.
It is beneficial and will position our country in the global lithium value chain,” Mnangagwa said.
Zimbabwe’s government wants lithium miners operating in the country to go beyond producing lithium concentrates and process battery-grade lithium.
Trevor Barnard, deputy general manager of Huayou’s Zimbabwe unit, said the company was undertaking feasibility studies on further processing.
“We are not at the battery stage yet, it will take a regional approach from quite a few mines coming together to do beneficiation (processing),” Barnard told Reuters.
Chinese firms including Huayou, Sinomine Resource Group, Chengxin Lithium Group, Yahua Group and Canmax Technologies have spent more than $1 billion over the past two years to acquire and develop lithium projects in Zimbabwe.
London-listed Premier African Minerals has said it will start producing lithium concentrates from its Zulu mine in southern Zimbabwe this year despite a delay caused by a plant defect.
mining.com
View attachment 39349
*To Remind,
Top 5 Lithium Projects in Africa by Estimated Production
Africa’s geologically prospective regions and abundant natural resources make it an attractive destination for investment.
With the increasing demand for minerals like lithium in clean energy technologies, Africa is witnessing the launch of large-scale projects aiming to become a global lithium hub and benefit from the energy transition trends.
Goulamina Mine, Mali: 831,000 tpa
Representing the first hard rock lithium mine in West Africa, the Goulamina mine – located near Bamako, the capital city of Mali – ranks as one of the world’s largest spodumene projects.
Developed by Leo Lithium – a joint venture between global lithium chemical producer Ganfeng and mineral company Firefinch (formerly Birimian) – the mine’s 27-month development program is well underway, with first concentrate targeted for early 2024.
Development is being undertaken through a two-phase approach, with Stage 1 targeting the production of 506,000 tons per annum (tpa) of concentrate and Stage 2 targeting 831,000 tpa. To date, the first stage of the project is fully funded.
Manono Mine, DRC: 700,000 tpa
Located in the Democratic Republic of Congo, the Manono Mine is an open-pit project boasting an estimated 93 million tons of reserves. Lying within the mid-Proterozoic Kibaran Belt, a scoping study was released in 2018 kickstarting the development of the mine.
While production was initially targeted at 410,000 tpa of lithium concentrate, revised studies have increased this target to approximately 700,000 tpa.
In 2022, the mine’s developer AVZ Minerals announced that the company was moving ahead with the early works program with first spodumene concentrate planned for late 2023.
However, progress has been delayed due to disputes regarding the mine’s ownership.
Bikita Mine, Zimbabwe: 412,000 tpa
Located in Zimbabwe’s Masvingo Province, the Bikita Mine represents the largest-known lithium deposit worldwide, with reserves measured at 11 million tons.
With operations dating back six decades, the Bikita Mine represents the only major producing lithium mine in operation in Africa, producing an average 60,000 tpa since 1950.
In 2023, the mine’s operator Sinomine Resource Group announced plans to increase the production of lithium concentrate to approximately 412,000 tons per year following a $200 million investment announced last year.
Arcadia Mine, Zimbabwe: 400,000 tpa
Representing the world’s biggest hard rock lithium resources, the Arcadia Mine is an open-pit project located near Zimbabwe’s capital city, Harare.
Previously owned by Australia’s Prospect Resources, China’s Zhejiang Huayou Cobalt acquired the mine in 2022 for $422 million.
With a mine life of 18 years, estimated production is measured at 400,000 tpa of lithium concentrate. In March 2023, Huayou commenced trial production.
Ewoyaa Mine, Ghana: 225,000 tpa
The Ewoyaa Mine, located approximately 100km south-west of the capital city of Accra, represents the first lithium producing mine in Ghana.
Developed by Atlantic Lithium, the project aims to exploit the Ewoyaa, Abonko and Kaampakrom deposits in Western Ghana.
A pre-feasibility study was conducted in September 2022, determining a mine life of 12.5 years with an initial capital investment of $125 million.
Estimated to hold 18.9 million tons of probable ore, first production is targeted for Q3, 2024, with output measured at up to 225,000 tpa.
Top 5 Lithium Projects in Africa by Estimated Production
Eager to capitalize on growing global demand, a number of lithium projects are underway across Africa.energycapitalpower.com
View attachment 39348
Food for thought
Frank
Frank
Top 20
*In other News - I see it's a case of China v DRC at the ICC now
The case of the termination of the contract for the construction of the new international airport of N'djili degenerates, the Chinese Wietc will go to arbitration at the International Chamber of Commerce of Paris
To avoid this, the contractor proposes to the government to maintain the project or to settle amicably according to the conditions provided for in the initial contract. The letter relating thereto was sent to the Director General of the RVA on June 19, 2023…
On June 14, 2023, the DR-Congolese Minister of Transport, Communication and Accessibility, Me Marc Ekila Likombo, sent a letter to the Director General of the Airway Authority -RVA SA- concerning "the decision to terminate the contract contract for the construction of a new passenger terminal at N'Djili international airport".
This is the project with a total cost of $340 million in which the Government of the Republic has advanced $20 million as part of the 30% down payment, i.e. $102 million.
For its part, Wietc, the Chinese company responsible for carrying out this work, pre-financed up to 10 million dollars.
"As part of the modernization of the airport infrastructure of the Democratic Republic of Congo, the government of the Republic had begun since 2018, negotiations with the Import and Export Bank of the People's Republic of China -Eximbank of China- for the purpose of achieving the financing of the aforementioned project”, we read in this correspondence.
Then: "It is nevertheless useful to bring to your particular attention that to date, five years have passed without any disbursement from the donor having been made despite the release by the government of a sum twenty million US dollars -USD 20,000,000- as a partial start-up advance.
As for the level of progress of the planned works, the current inventory reveals that they have been stopped since December 2020”.
Then again: “In view of the foregoing and with the aim of complying without delay with the recommendations of international civil aviation institutions and bodies, the government of the Republic, during the meeting of Thursday June 08, 2023 chaired by the Minister of Finance and myself with the company Wietc, took the decision to put an end to the contract signed with the Chinese company Wietc and to explore new avenues of solutions which should enable it to start work quickly”.
And to conclude: "To this end, I join you, without delay, to notify the above-named company of the government's decision and to take the appropriate steps while promoting an amicable settlement".
Weihai international economic & technicol cooperative Co. Ltd -Wietc”, reacted without delay.
“The Wietc company believes that the reasons listed in your notice of termination are unfounded, and we do not accept and adhere to this notice of termination of contract,” reads the letter addressed to the general manager of the RVA SA by Wietc.
Then: “The company Wietc has fully fulfilled its contractual obligations, and has invested enormous human and material resources for the implementation of the Project. And the suspension of the project is not the responsibility of the company Wietc but, as indicated in your notice of termination of contract, the said suspension is caused by the non-mobilization of the funds necessary for the execution of the project by the government .
And in particular, the government precisely intends to entrust the project to another third party company, this termination is thus a serious fault of the RVA.
We, the company Wietc, clearly declare that we do not accept the termination of the contract, and we still have all the rights granted in the contract such as the right of use and free access to the work site”.
According to this company, the measure to be taken should never be the termination of the contract but an amicable settlement. “Both parties need to find a compromise and then sign an agreement.
Before this step, the company Wietc will not negotiate with any third party for collaboration”, she said in the missive sent to the Director General of the RVA. If it has not already generated, we are almost there since Wietc issued an ultimatum to the DR-Congolese government.
“If our two parties do not reach an agreement on this, the company Wietc will, in accordance with the stipulation of the contract, resort to arbitration by the International Chamber of Commerce in Paris. Until the arbitration award is rendered, Wietc will continue to enjoy all contractual rights, including the right of use and free access to the work site in accordance with the contract”.
On the ground, contacts were made between the DR-Congolese authorities and a Turkish company to negotiate a deal.
This is how on May 2, the Prime Minister, Jean-Michel Sama Lukonde, met with the Minister of State for Regional Planning, the Minister of Transport and Communication Channels as well as the boss of the company Milvest which is part of Miller Holding, on the construction and rehabilitation project of the Ndjili International Airport.
Here, Marc Ekila, Minister of Transport and Communication Channels, declared that he accompanied Turhan Mildon to the Prime Minister to present the model that his company Milvest intends to bring to DR-Congo as part of the reconstruction project. N'djili international airport, work on which has been suspended for quite some time.
For his part, Turhan Mildon, boss of the company Milvest, had stressed that this project will be done without there being a burden on the state budget.
In the meantime, so that Wietc cannot seize the International Chamber of Paris, it proposes to the DR-Congolese government the maintenance of the project or the amicable settlement according to the conditions provided for in the initial contract.
"In the event of a referral to this chamber, the DR-Congolese government would be ordered to pay costs as damages to Wietc", indicates a lawyer contacted by AfricaNews.
The position of Minister of Transport Marc Ekila is in contradiction with the report of the Financial and Technical Evaluation Commission set up by his colleague from Finance, Nicolas Kazadi, recommending the continuation of the work entrusted to Wietc.
Sent in May 2022 to Nicolas Kazadi, this report has since remained a dead letter.
The case of the termination of the contract for the construction of the new international airport of N'djili degenerates, the Chinese Wietc will go to arbitration at the International Chamber of Commerce of Paris
To avoid this, the contractor proposes to the government to maintain the project or to settle amicably according to the conditions provided for in the initial contract. The letter relating thereto was sent to the Director General of the RVA on June 19, 2023…
On June 14, 2023, the DR-Congolese Minister of Transport, Communication and Accessibility, Me Marc Ekila Likombo, sent a letter to the Director General of the Airway Authority -RVA SA- concerning "the decision to terminate the contract contract for the construction of a new passenger terminal at N'Djili international airport".
This is the project with a total cost of $340 million in which the Government of the Republic has advanced $20 million as part of the 30% down payment, i.e. $102 million.
For its part, Wietc, the Chinese company responsible for carrying out this work, pre-financed up to 10 million dollars.
"As part of the modernization of the airport infrastructure of the Democratic Republic of Congo, the government of the Republic had begun since 2018, negotiations with the Import and Export Bank of the People's Republic of China -Eximbank of China- for the purpose of achieving the financing of the aforementioned project”, we read in this correspondence.
Then: "It is nevertheless useful to bring to your particular attention that to date, five years have passed without any disbursement from the donor having been made despite the release by the government of a sum twenty million US dollars -USD 20,000,000- as a partial start-up advance.
As for the level of progress of the planned works, the current inventory reveals that they have been stopped since December 2020”.
Then again: “In view of the foregoing and with the aim of complying without delay with the recommendations of international civil aviation institutions and bodies, the government of the Republic, during the meeting of Thursday June 08, 2023 chaired by the Minister of Finance and myself with the company Wietc, took the decision to put an end to the contract signed with the Chinese company Wietc and to explore new avenues of solutions which should enable it to start work quickly”.
And to conclude: "To this end, I join you, without delay, to notify the above-named company of the government's decision and to take the appropriate steps while promoting an amicable settlement".
Weihai international economic & technicol cooperative Co. Ltd -Wietc”, reacted without delay.
“The Wietc company believes that the reasons listed in your notice of termination are unfounded, and we do not accept and adhere to this notice of termination of contract,” reads the letter addressed to the general manager of the RVA SA by Wietc.
Then: “The company Wietc has fully fulfilled its contractual obligations, and has invested enormous human and material resources for the implementation of the Project. And the suspension of the project is not the responsibility of the company Wietc but, as indicated in your notice of termination of contract, the said suspension is caused by the non-mobilization of the funds necessary for the execution of the project by the government .
And in particular, the government precisely intends to entrust the project to another third party company, this termination is thus a serious fault of the RVA.
We, the company Wietc, clearly declare that we do not accept the termination of the contract, and we still have all the rights granted in the contract such as the right of use and free access to the work site”.
According to this company, the measure to be taken should never be the termination of the contract but an amicable settlement. “Both parties need to find a compromise and then sign an agreement.
Before this step, the company Wietc will not negotiate with any third party for collaboration”, she said in the missive sent to the Director General of the RVA. If it has not already generated, we are almost there since Wietc issued an ultimatum to the DR-Congolese government.
“If our two parties do not reach an agreement on this, the company Wietc will, in accordance with the stipulation of the contract, resort to arbitration by the International Chamber of Commerce in Paris. Until the arbitration award is rendered, Wietc will continue to enjoy all contractual rights, including the right of use and free access to the work site in accordance with the contract”.
On the ground, contacts were made between the DR-Congolese authorities and a Turkish company to negotiate a deal.
This is how on May 2, the Prime Minister, Jean-Michel Sama Lukonde, met with the Minister of State for Regional Planning, the Minister of Transport and Communication Channels as well as the boss of the company Milvest which is part of Miller Holding, on the construction and rehabilitation project of the Ndjili International Airport.
Here, Marc Ekila, Minister of Transport and Communication Channels, declared that he accompanied Turhan Mildon to the Prime Minister to present the model that his company Milvest intends to bring to DR-Congo as part of the reconstruction project. N'djili international airport, work on which has been suspended for quite some time.
For his part, Turhan Mildon, boss of the company Milvest, had stressed that this project will be done without there being a burden on the state budget.
In the meantime, so that Wietc cannot seize the International Chamber of Paris, it proposes to the DR-Congolese government the maintenance of the project or the amicable settlement according to the conditions provided for in the initial contract.
"In the event of a referral to this chamber, the DR-Congolese government would be ordered to pay costs as damages to Wietc", indicates a lawyer contacted by AfricaNews.
The position of Minister of Transport Marc Ekila is in contradiction with the report of the Financial and Technical Evaluation Commission set up by his colleague from Finance, Nicolas Kazadi, recommending the continuation of the work entrusted to Wietc.
Sent in May 2022 to Nicolas Kazadi, this report has since remained a dead letter.
The Fox
Regular
Chinese giants CATL-CMOC want Manono lithium, Kasai nickel and ZES batteries in the DRC
July 6, 2023Kiki Kienge
"We welcome the availability of CATL and CMOC to be able to accompany the Head of State in this great vision"
By Kiki Kienge
CMOC Group Limited, formerly China Molybdenum Company Limited, is a Chinese mining company listed on the Hong Kong Stock Exchange and the Shanghai Stock Exchange, it is one of the world's largest producers of molybdenum, tungsten, the second largest producer of cobalt and niobium and a leading producer of copper.
In Australia, CMOC has an 80% stake in Rio Tinto in the Northparkes copper and gold mine in Australia for $820 million;
In Brazil, CMOC acquired phosphate and niobium mines in the Brazilian states of Goiás and São Paulo from an Anglo-American PLC, including the Boa Vista mine.
In China, CMOC has three large mines; the Sandaozhuang molybdenum-tungsten mine in the Luanchuan district, the molybdenum mine in Hami, and the Shangfanggou molybdenum-iron mine.
In the Democratic Republic of the Congo, CMOC owns 80% of the shares of the Tenke Fungurume copper and cobalt mine (TFM).
Through its subsidiary KFM Holding Limited, the company also acquired in 2020, for a price of $550 million, a 95% stake in the Kisanfu mine from Freeport-McMoRan, which also produces copper and cobalt24. In 2021, the group sold 25% of KFM Holdings to Contemporary Amperex Technology (CATL) for $137.5 million, leaving it a 71.25% stake in the Kisanfu25.26 project. The CMO announced in July 2022 that it planned to invest $1.8 billion in the Kisanfu project
On July 04, 2023, the Congolese Minister of Industry, Julien Paluku has just met with the President and CEO of CMOC, Sun Ruiwen and a delegation from the CATL group, to talk about the project to manufacture electric batteries in DR Congo.
The Minister of Industry, Julien Paluku spoke of a "win-win" partnership between CATL-CMOC and DR Congo for the development of electric batteries:
"I am very happy to find myself here, because I am here after the President of the Republic Félix Tshisekedi received them (NDL: the representatives of two Chinese firms) in Kinshasa. So we will share around the vision of the President of the Republic who would like to develop a value chain for the entire battery industry in the DRC. We welcome the availability of CATL and CMOC to be able to accompany the Head of State in this great vision that wants to make the DRC the locomotive of the economy of all Africa..."
CMOC would be very interested in the creation of the Lubumbashi Special Economic Zone in Upper Katanga, but in particular Kasai nickel and especially Manono lithium in Tanganyika province:
"The battery value chain project in the DRC is a better way to establish this global strategic partnership. CMOC with its partner CATL, we have experience in the battery sector, especially from a technological and financial point of view. We are ready to accompany the DRC for its reindustrialization and economic development," promised Ruiwen Sun.
CMOC being one of the world's largest producers of cobalt, is already involved in the manufacture of lithium-ion batteries, along with lithium and nickel, the Chinese group would have at its disposal the major minerals that make up the manufacture of lithium-ion batteries.
Recall that last May, there was a meeting between the Congolese Minister of Industry, the Chinese group CATL and the CMOC group in Kinshasa, the capital of DR Congo, just after the previous meeting between these last three delegations, in particular in the presence of the Congolese Minister of Mines, Antoinette Nsamba Kalambayi, during the stay of the Congolese Head of State Félix Tshise
are catl and cmoc the ones sniffing around avz for potential TO?Chinese giants CATL-CMOC want Manono lithium, Kasai nickel and ZES batteries in the DRC
July 6, 2023
Kiki Kienge
"We welcome the availability of CATL and CMOC to be able to accompany the Head of State in this great vision"
By Kiki Kienge
CMOC Group Limited, formerly China Molybdenum Company Limited, is a Chinese mining company listed on the Hong Kong Stock Exchange and the Shanghai Stock Exchange, it is one of the world's largest producers of molybdenum, tungsten, the second largest producer of cobalt and niobium and a leading producer of copper.
In Australia, CMOC has an 80% stake in Rio Tinto in the Northparkes copper and gold mine in Australia for $820 million;
In Brazil, CMOC acquired phosphate and niobium mines in the Brazilian states of Goiás and São Paulo from an Anglo-American PLC, including the Boa Vista mine.
In China, CMOC has three large mines; the Sandaozhuang molybdenum-tungsten mine in the Luanchuan district, the molybdenum mine in Hami, and the Shangfanggou molybdenum-iron mine.
In the Democratic Republic of the Congo, CMOC owns 80% of the shares of the Tenke Fungurume copper and cobalt mine (TFM).
Through its subsidiary KFM Holding Limited, the company also acquired in 2020, for a price of $550 million, a 95% stake in the Kisanfu mine from Freeport-McMoRan, which also produces copper and cobalt24. In 2021, the group sold 25% of KFM Holdings to Contemporary Amperex Technology (CATL) for $137.5 million, leaving it a 71.25% stake in the Kisanfu25.26 project. The CMO announced in July 2022 that it planned to invest $1.8 billion in the Kisanfu project
On July 04, 2023, the Congolese Minister of Industry, Julien Paluku has just met with the President and CEO of CMOC, Sun Ruiwen and a delegation from the CATL group, to talk about the project to manufacture electric batteries in DR Congo.
The Minister of Industry, Julien Paluku spoke of a "win-win" partnership between CATL-CMOC and DR Congo for the development of electric batteries:
"I am very happy to find myself here, because I am here after the President of the Republic Félix Tshisekedi received them (NDL: the representatives of two Chinese firms) in Kinshasa. So we will share around the vision of the President of the Republic who would like to develop a value chain for the entire battery industry in the DRC. We welcome the availability of CATL and CMOC to be able to accompany the Head of State in this great vision that wants to make the DRC the locomotive of the economy of all Africa..."
CMOC would be very interested in the creation of the Lubumbashi Special Economic Zone in Upper Katanga, but in particular Kasai nickel and especially Manono lithium in Tanganyika province:
"The battery value chain project in the DRC is a better way to establish this global strategic partnership. CMOC with its partner CATL, we have experience in the battery sector, especially from a technological and financial point of view. We are ready to accompany the DRC for its reindustrialization and economic development," promised Ruiwen Sun.
CMOC being one of the world's largest producers of cobalt, is already involved in the manufacture of lithium-ion batteries, along with lithium and nickel, the Chinese group would have at its disposal the major minerals that make up the manufacture of lithium-ion batteries.
Recall that last May, there was a meeting between the Congolese Minister of Industry, the Chinese group CATL and the CMOC group in Kinshasa, the capital of DR Congo, just after the previous meeting between these last three delegations, in particular in the presence of the Congolese Minister of Mines, Antoinette Nsamba Kalambayi, during the stay of the Congolese Head of State Félix Tshise
Mr Pei the key.
24% ownership in the Manono project with definite potential of a 10mtpa output.
He would be saying
Stuff Zijin .
Major shareholder in CATL.
Looks like a take over by CATH / CATL ???
DiscoDanNZ
Regular
I think we should give up pointing out how much money the DRC's losing with all this fucking around, it's hopeless.
They'd only waste it on corruption anyway.
Makes sense . Pick up 24% for the very discounted price of $240 mil for starters . Take the remaining 51% at fair value . Very pleased we got another round of drilling completed .
Cumquat Cap
Regular
Believe so yes
Cumquat Cap
Regular
First 24% is a TIA and has not been executed. I hope avz presses for full value of our 75%. 24% TIA was a gift to have their expertise - we won’t need shit once were bought out. CMOC have a terrible reputation like zjin but DRC doesn’t care.
Just my opinion
TDITD
Top 20
Julien Paluku welcomes the CATL-CMOC -RDC partnership in the manufacture of electric batteries
The Minister of Industry, Julien Paluku during his speech in Fuzhou, China.
Photo Third Party Rights.
Published on Wed, 05/07/2023 - 15:08 | Modified on Wed, 05/07/2023 - 15:09
On Tuesday, July 4, the Congolese Minister of Industry, Julien Paluku, welcomed the "win-win" partnership between CATL-CMOC and the DRC in the manufacture of electric batteries.
He said this during his visit to Shanghai (China) to the facilities of the company CMOC, specialized in the refinery of metals that are used in the manufacture of precursors of electric batteries.
"I am very happy to find myself here, because I am here after the President of the Republic Félix Tshisekedi received them (NDL: the representatives of two Chinese firms) in Kinshasa. So we will share around the vision of the President of the Republic who would like to develop a value chain for the entire battery industry in the DRC. We welcome the availability of CATL and CMOC to be able to accompany the Head of State in this great vision that wants to make the DRC the locomotive of the economy of all Africa..."
The city of Shanghai, the economic capital of China, was the last step in the economic mission of the Congolese Minister of Industry.
Last weekend, Julien Paluku reiterated his call to the CATL company to support the Congolese project to manufacture electric batteries.
Read also on radiookapi.net:
Julien Paluku encourages CATL to support the electric battery manufacturing project in Haut-Katanga
The DRC presents its industrialization master plan at the China-Africa Forum in Dakar
That could depend on our relationship with Mr Pei . Will this be a sale with or without the ML ? 51% on updated resource is still a good payday . Whatever gets us out of this crap for $2-$2.50 per share is fine with me .
John25
Regular
Just putting it out there Wombat …we have a good relationship with Mr Pei …Our BoD shouted him to dinner at the local chinese restaurant on his visit,JAG’s boat was still being cleaned from last outing
…just a reminder thats Ben on the left & Nigel on the rightThen again it could’ve been local uber eats driver Wonhunglow delivering a meal after they successfully Bull Shited their way through the Royal Shit Shows & AGM
Similar threads
