Congo copper and cobalt miners cut chemical use as Iran war disrupts supplies

Mining04-15 15:01

Congo’s leading copper and cobalt producers have had some orders for key leaching chemicals cancelled or withdrawn by suppliers this month, forcing miners ‌to cut usage and consider output reductions...

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A 2,000-metric-ton SMBS order was cancelled outright, while another 1,800-ton shipment was withdrawn earlier in April after contracts had been signed, a supply chain source said, speaking on condition of anonymity due to the commercial sensitivity of contracts.\nMiners are cutting chemical consumption to stretch available stocks and considering reducing cobalt production, the source and mining chemicals supply-chain consultant Isabel Ramirez said. Producing off-spec cobalt is another option, though not ideal.\nThe sources declined to name the companies affected, but one referenced the three biggest operators ‌in the ⁠DRC – China’s CMOC, Glencore and Eurasian Resources Group.\nGlencore declined to comment. CMOC, Eurasian Resources Group and Congo’s mines minister did not immediately respond to requests for comment.\n\nIvanhoe holds ‘captive audience’ on Congo sulphuric acid market, CEO says\n\nSupply verification tightened\nWith uncertainty rising, buyers are placing overlapping orders and tightening supply verification protocols, including sending representatives to warehouses to check physical inventories and ownership documents, the supply chain source said.\n“Now they ⁠want to verify first that you actually have the stock,” the source added.\nCongo’s months-long cobalt export suspension and the introduction of quotas have already constrained supplies, hitting smelters globally. The government said this month it will allow companies to ship delayed fourth-quarter quotas by ⁠April 30 and first-quarter volumes by end-June.\nPremiums for sulfuric acid and SMBS shipped through Tanzania’s Dar es Salaam port have almost doubled since the war began, raising costs for miners, said Peter Harrisson, an ⁠analyst at consultancy CRU.\nShip rerouting and limited freight availability have exacerbated the problem, Ramirez said.\n“What used to take you three months now takes you four, six months,” she said. “There is a heightened risk of shortages.”\n(By Maxwell Akalaare Adombila and Olivia Kumwenda-Mtambo; Editing by Veronica Brown and Mark Potter)","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.42.0","shortVersion":"4.42.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2627255723","isCrawlerRequest":true}