Its flagship program - the Responsible Minerals Assurance Process (RMAP) - offers “an independent, third-party audit that determines which smelters and refiners can be verified as having systems in place to responsibly source minerals in line with current global standards”. With 120,000 tonnes of cobalt produced in 2021, the Democratic Republic of the Congo was the world’s largest source of mined cobalt, supplying over 70 of world cobalt mine production. Membership is $7,500 per year for companies with annual revenues under $9 billion, and $15,000 for those making above $9bn. RMI has more than 400 companies and associations as members including Amazon, Apple, Boeing, Disney, Ford, General Electric, General Motors, Meta, Samsung and Toyota. The two leading coalitions are the Global Battery Alliance (GBA) and the Responsible Minerals Initiative (RMI). The Democratic Republic of the Congo produces an estimated 70 of the worlds cobalt, and most of it comes from the city of Kolwezi. Prospect of Global and Chinas Cobalt Industries. Major Cobalt Mining and Smelting Enterprises 6.2. Many of the major tech, EV and battery companies have joined initiatives tasked with cleaning supply chains and stamping out human rights abuses and child labor. Major Cobalt Smelters in China and the World, 2020-2021 6.1. How on earth can any consumer-facing tech or EV company reasonably say that artisanal contribution is not in their supply chain?” Every last ounce of copper-cobalt ore being scrounged out of the ground, in these hazardous conditions by artisanal miners, is flowing into the formal supply chain. There is an enormous supply-demand imbalance, on the demand side. “It’s not going to Mars, they are not digging it for sport. Where is it going if no one up the chain is buying it?” he said. Major mining operations can be found in the Katanga Province, notably the Mutanda. It can sustain 32 years of mining operations at an annual ore production rate of 5.54Mt. The Tenke Fungurume mine was estimated to hold 176.8 million tonnes (Mt) of recoverable ore reserves grading 2.1 copper and 0.30 cobalt as of December 2020. The DRC is home to more than 50 of the world’s cobalt reserves, with an estimated 3.6 million tonnes available for extraction in the country. Copper and cobalt reserves at Tenke Fungurume. Democratic Republic of Congo 3.6 million tonnes. China Molybdenum ( OTCPK:CMCLF) says it acquired a 95 stake in the Kisanfu copper-cobalt ore project in the Democratic Republic of Congo from Freeport McMoRan (NYSE: FCX) for 550M. “There are hundreds of thousands of Congolese people, tens of thousands of children, digging hundreds of thousands of tons of copper-and-cobalt ore per year. The six largest cobalt reserves in the world by country. The leading country in worldwide cobalt mine production in 2022 was the Democratic Republic of Congo. Mr Kara described these statements as “utterly inconsistent” with what’s happening on the ground. Research lead covering energy, chemicals & resources.
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