Get started

Cobalt Blockchain expects final approval shortly for DRC copper/cobalt trading, export license

Canada-based Cobalt Blockchain Inc (COBC) expects final ratification shortly for a copper/cobalt trading and export license that will allow it to establish regional buying depots in the Democratic Republic of Congo (DRC), process minerals in-country and export internationally.

May 21, 2018
By Generic people page
Base metals Copper

The exploration and development company, which has assets in the DRC, said its application for the license as well as all associated licensing fees and studies have now been submitted to the country’s Ministry of Mines.

COBC has started initial arrangements to set up its cobalt trading facilities in the DRC, which will include a 1,000 square meter depot with storage, assay laboratory, clinic and office capabilities. The depot site will also incorporate perimeter fencing and security equipment.

On completion of the trading depot, COBC will purchase its first cobalt concentrate from COMIKU, one of the largest local mining cooperatives in the Lualaba province, following a supply agreement announced on Friday April 6. Under the agreement and starting in June, COBC will be supplied with a minimum of 40,000 tonnes per year of cobalt concentrate, with a minimum grade of 1% cobalt.

COBC is the first mining and mineral trade company set up specifically to procure cobalt in compliance with the Organisation for Economic Co-operation and Development (OECD) due diligence framework, which ensures it addresses child labour and other challenges associated with artisanal and small-scale mining in the DRC.

Since March, COBC has been working with BetterChain SL to develop an autonomous due diligence protocol. The protocol can be used by any upstream mining and mineral trade operator to demonstrate OECD compliance and improve upstream reporting, whether sourced via artisanal and small-scale mining or otherwise, and throughout the mining supply chain.

COBC is also continuing to work with other partners toward establishing a blockchain platform to provide greater certainty of provenance and further assurance that all minerals procured are ethically sourced.

The mining sector in the mineral-rich DRC, a key producer of copper and cobalt, has flourished following a recovery in metals prices and because of the push toward more use of electric vehicles (EVs) globally.

Cobalt prices have risen as a result, with Metal Bulletin’s benchmark price assessment for low-grade material, free market settling at $42.85-43.85 per lb, in-warehouse, on Friday May 18. This was up by 73% from a year ago.

What to read next
End of open consultation on methodology for ferro-chrome 50% Cr import, cif main Chinese ports and European high carbon ferro-chrome price assessments
Fastmarkets invited feedback from the industry on the methodology of its price assessments for ferro-chrome 50% Cr import, cif main Chinese ports, and European high carbon ferro-chrome, as part of its annual methodology review process.
May 5, 2026
 · 
By Fastmarkets pricing team
End of open consultation on methodology for ferro-tungsten basis 75% W, in-whs dup Rotterdam and tungsten APT 88.5% WO3 min cif Rotterdam and Baltimore duty-free price assessments
Fastmarkets invited feedback from the industry on the methodology of its price assessments for ferro-tungsten basis 75% W, in-whs dup Rotterdam, and tungsten APT 88.5% WO3 min cif Rotterdam and Baltimore duty-free, as part of its annual methodology review process.
May 5, 2026
 · 
By Fastmarkets pricing team
End of open consultation on methodology for ferro-molybdenum in-whs Rotterdam; molybdic oxide in-whs Rotterdam, Busan
Fastmarkets invited feedback from the industry on the methodology of its price assessments for ferro-molybdenum 65% Mo min, in-whs Rotterdam, $ per kg Mo; molybdenum drummed molybdic oxide 57% Mo min, in-whs Rotterdam, $ per lb Mo; and molybdenum MB drummed molybdic oxide Mo, in-whs Busan, $ per lb, as part of its annual methodology review process.
May 5, 2026
 · 
By Fastmarkets pricing team
copper mine
Copper supply lags demand as permitting delays, lower grades, policy risks bite: FT Commodities Summit
Copper’s long-term outlook is constrained by the industry’s limited ability to bring new supply online fast enough to meet rising demand, with permitting delays, higher capital costs and policy risks slowing project development, industry executives said at the FT Commodities Global Summit on Wednesday April 22.
May 5, 2026
 · 
By Eva Qi
Pricing Notice
Correction to steel hot-rolled coil import, cfr main port Southern Europe price on April 29
Fastmarkets has corrected its assessment for MB-STE-0047 Steel hot-rolled coil import, cfr main port Southern Europe, €/tonne published on Wednesday April 29.
April 30, 2026
 · 
By Fastmarkets pricing team
Hotter Commodities Junior Miners
Critical minerals boom boosts growth-stage juniors | Hotter Commodities
Capital is flowing back into junior mining, but selectively. Investment is increasingly favouring development‑stage assets with clearer paths to production, supported by government funding and strategic partnerships. While demand for critical minerals underpins the cycle, early‑stage explorers continue to struggle for capital as investors prioritise discipline, ESG alignment and near‑term cash flow.
April 30, 2026
 · 
By Andrea Hotter