COBALT INSTITUTE CONF 2019: DRC considering fixed price for artisanal cobalt miners

Authorities in the Democratic Republic of the Congo (DRC) are considering the possibility of agreeing a “good, fixed price” for its artisanal cobalt producers, according to Paul Mabolia from the country’s ministry of mines.

The DRC could scale up its cobalt production capacity to almost 200,000 tonnes per year by 2025 should certain factors, including sustainability of supply, be addressed, Mabolia told delegates at the Cobalt Institute’s conference in Hong Kong this week. Some of that scale up is dependent on price conditions. “Right now, artisanal miners get 10% of the London Metal Exchange [cobalt] price [but] why should it be 10%?” Mabolia said. Such a price structure means artisanal supply comes on and offline as cobalt prices fluctuate –...

Published

Charlotte Radford

May 15, 2019

06:36 GMT

Hong Kong