Congo Cobalt Reliance Grows Despite Europe Discoveries

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Last month, for example, the Australian production and processing company Lithium Australia announced the discovery of cobalt mineralization at mines in Eichigt, in the state of Saxony in Germany. “Initial exploration focused on copper-bearing quartz veins that were subjected to small-scale mining activities during the 16th century,” said Lithium Australia in a press release. The diggings encountered are testimony to the considerable extent of the strike.” Griffin said the cobalt "could prove a strategic feed into the burgeoning battery industry” in Europe as a number of manufacturers gear up to build lithium-ion gigafactories. The operation “will soon be the world’s top cobalt miner,” noted Bloomberg in April, although the Glencore subsidiary running the mine is beset with problems ranging from accounting probes to corruption scandals. And Chemaf, a Congolese firm, is developing a processing plant at its Mutoshi mine that is expected to deliver more than 17,600 tons of cobalt a year.

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