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Trafigura continues with the development of the future third cobalt mine in the world

Inspenet.

November 24, 2022

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By : Inspenet, Nov 24, 2022

Trafigura secured a USD 600 million syndicated financing facility with the Eastern and Southern Africa Trade and Development Bank (TDB) for the purpose of developing cobalt and copper mines in the Democratic Republic of Congo.

The company also specified that the resources will allow the completion of its new mechanized mine in Mutoshi, as well as the processing plant in Kolwezi and to expand the mine and processing plant of Etoile in Lubumbashi.

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They also detailed that the Mutoshi mine could start production in the fourth quarter of 2023. If completed, it will become the third largest cobalt mine in the world and will have an annual production capacity of 16,000 tons of cobalt hydroxide and 48,000 tons of copper cathodes.

According to Trafigura, Africa and the Democratic Republic of Congo, in particular, hold some of the largest mineral reserves needed for the global energy transition towards a zero emission world.

Source : https://www.rumbominero.com/peru/noticias/internacionales/trafigura-tercera-mina-cobalto/

Photo: ShutterStock

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