@kynrazor Just post mate
Thanks for the effort man ! Id like to offer a few thoughts with regards to Artisanal Miners and were I think they will come into play with WFE and any Production Plant (WFE may acquire )
First thing 1st : Artisanal miners accounted for between 14 to 16 percent of the 80,800 tonnes of cobalt mined in the DRC in 2018.
Thats about 11,000 tonnes of Cobalt if I'm correct, give or take a bit !
5 Top Cobalt-mining Companies in the World 2016/2017 ( Approximately )
1. Glencore
Total production: 27,400 tonnes
2. China Molybdenum
Total production: 9,314 tonnes
3. Fleurette Group
Total production: 7,595 tonnes
4. Vale
Total production: 5,278 tonnes
5. Gecamines
Total production: 4,167 tonnes
According to the production data available for 2016/2017, DRC Artisanal miners would come in at number 2 on the list with around
11,000 tonnes of Cobalt.
Kolwezi DRC
In Kolwezi, a mining town in southeastern DRC, Chinese entrepreneurs dominate the middle section of the market, purchasing the raw
cobalt from miners and selling it on for refining.
Transactions in the buying houses depend on the purity of the ore. There are approximately 30 major kinds of cobalt-bearing rock and over 100 more where the metal is present in smaller quantities.
Handwritten signs at the buying houses in Kolwezi show the varying prices offered for a tonne: "3 percent = $500" and "15 percent = $7,000". The cobalt component is determined by a machine called "Metorex" which is used by the buyer.
The middlemen—predominantly Chinese and some Indians—then sell the raw material to operators for semi-processing.
Now before anyone screams Child labour and unethical cobalt supply , take a breath Lol , its all going to be just fine.
LME to strengthen scrutiny of DRC-sourced cobalt , London Metal Exchange
View attachment 1195626
The LME, the world’s largest metal exchange, will require all companies that get at least 25 per cent of their metal from small-scale mines in the DRC to undergo a professional audit starting in January
More than 60 per cent of the world’s
cobalt comes from the DRC,
and it is estimated that up to 20 per cent is hand-mined by small-scale miners
The Largest Metal Exchange on the Planet ( LME ) estimates up to 20% ( now 16,00 tonnes ) is hand mined , the more interesting part is ( LME) will require all companies that get at least 25 per cent of their metal from small-scale mines in the DRC to undergo a professional audit starting in January
Trafigura, the Swiss commodity trader, has teamed up with local mining company
Chemaf to develop controlled sites for cobalt mining in the DRC, in collaboration with the local government. Cobalt Blockchain is also looking to develop pilots in the country using the technology behind bitcoin to track the metal from the mine to consumer.
Jason Brewer @JBrewerMining
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Final day in
#London and no better place to just walk to meetings.
25 Jun 2018
Jason Brewer @JBrewerMining
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Jason Brewer Retweeted Arsene Kipayko
100%. A commitment to responsible mining, community enhancement and as you've pointed out to maximise employment and local content for Congolese. Only then can we be jointly successful.
22 Jun 2018
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Jason Brewer Retweeted Hermes EOS
A must read for anyone seriously considering supporting
$WFE proposed
#cobalt activities in the DRC. Several key takeaways from
@HermesEOS attendance at OECD’s Forum on Responsible Mineral Supplychains. We know what we must achieve!
22 May 2018
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The need to go beyond ‘due diligence’ and ‘checklists’ to remove human rights stain from cobalt | Ethical Corporation
27 Apr 2018
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Good to have had the opportunity to talk with Harvey Stewart, Trafigura's local representative here in Lubumbashi, on
$WFE's
#cobalt strategy here in the DRC and also Trafigura's three-year cobalt deal with Shalina Resources subsidiary Chemaf.
10 Apr 2018
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More major players securing
#cobalt supplies from DRC with Trafigura signing cobalt offtake deal with Chemaf on its 5,000tpa rising to 7,000tpa production.
$WFE
5 Apr 2018
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Pleasure as always to sit down with
@MiningbusinessM editor Marie-Aude Delafoy and discuss successful and ethically responsible mining in the DRC. $4CE
$WFE $VEC
28 Mar 2018
For the life of me I cant find the tweet where JB visited the ( LME) but he did , and as you can see from many of his tweets Ethical Cobalt Supply is a very important issues for him. From personal conversations I also know Artisanal Miners are also high on the list , giving small scale miners a vehicle to undergo a professional audit to receive Ethical Certification ( LME ) and the ability to increase theres profits. Win Win all round !
The middlemen—predominantly Chinese and some Indians—then sell the raw material to operators for semi-processing
This is where i believe Jason Brewer has killed two birds with one stone , as they say ! WFE have a ready made supply of Cobalt right on there doorstep , actually carried/driven right to there doorstep, no mining , time or money required. London Metal Exchange are sourcing Artisanal Small Scale Miners to Audit and receive Ethical Mining Status . The World is demanding Ethical Metals Supply and the big companies are responding to the pressure.
As my wife screams dinner is ready , code for get the hell of the computer again Lol ,
Ill make this short
1: Artisanal miners accounted for between 14 to 16% of DRC Cobalt , 11,000 tonnes
2: In 2016/2017 the places DRC Artisanal Miners at number to producer in the World
3: Predominantly Chinese and Indian middleman buy from Artisanal miners then sell the raw material to operators for semi-processing.
4: Kolwezi DRC is the hotspot for Artisanal Cobalt Mining
5: London Metal Exchange ( LME ) will require all companies that get at least 25 per cent of their metal from small-scale mines in the DRC to undergo a professional audit starting in January
6: Jason Brewer meets with London Metal Exchange ( LME ) and on more than one occasion ( as above tweets ) has stressed the importance of the Ethical Supply Chain. And most importantly the well being of the DRC miners.
7: WFE is ( rumoured only ) to be acquiring a Cobalt Production Plant
Artisanal Miners will play there part in WFE's success , thats my gut feeling . And I can only imagine what 1620 Capital has found in the way of Cobalt leases , hard rock and tailings my guess !
Ill leave you guys with one of my tweets , its says everything I need to say
@APKJM
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$WFE #DRC
#Ethical #Cobalt #Supply Can
$WFE @JBrewerMining achieve the unthinkable and become a Near Term
#Ethical #Cobalt #Producer The ability of good management to think outside the box could save Shareholders Years on there investments
