Geneva DryPort of StocktonTelestackVan AalstBühler GmbHSailors Society
  • TBA Group
  • Telestack
  • Vigan
  • TMS Awards 2023
  • Port of South Louisiana
  • Bühler GmbH

Trafigura transaction for new cobalt hydroxide and copper cathode supplies

Trafigura transaction for new cobalt hydroxide and copper cathode supplies

(Posted on 20/01/22)

Shalina Resources (“Shalina”) and Chemaf SA (“Chemaf”), a leading vertically integrated copper and cobalt producer in the Democratic Republic of the Congo (DRC), have concluded a financing and marketing transaction with Trafigura Pte. Ltd. (“Trafigura”), one of the world’s leading independent commodity trading companies. The transaction will facilitate new supply of high-grade cobalt hydroxide and copper cathode at a time of growing global demand.

The USD600 million financing will enable the completion of the fully mechanised Mutoshi mine and SX-EW processing plant in Kolwezi and the expansion of the Etoile SX-EW processing plant in Lubumbashi to progress without delay. Trafigura intends to syndicate the majority of the USD600 million financing to international banks. The agreements also provide for the marketing by Trafigura of all the cobalt hydroxide produced from these assets operated by Chemaf, Shalina’s DRC subsidiary, which is expected to continue until the end of 2027.

The Mutoshi mine, set to be one of the largest cobalt and copper mines in the DRC with significant resource development upside, is now expected to be producing by the third quarter of 2023. The new production will make Chemaf one of the largest cobalt producers globally at a time when demand for batteries for electric vehicles and copper for increased electrification as part of the energy transition is growing exponentially from customers across the world.

The development of these operations in the DRC will provide substantial economic value for the country and create significant local employment during the construction phase of the Mutoshi mine as well as during the operation phase of up to 1,000 jobs. In addition, the current local employment of around 1,000 Congolese at the Etoile mine will be secured for an additional 10-12 years.

An important component of the transaction involves Trafigura working with Shalina and Chemaf, using their combined experience to enhance the management of social and environmental impacts in line with international standards including the OECD’s ‘Due Diligence Guidance for Responsible Supply Chains’ and Trafigura’s own responsible sourcing programme.

Latest News

GGC welcomes new Canadian government and urges farm priorities action

(Posted on 01/05/25)

Grain Growers of Canada (GGC) has welcomed Prime Minister Mark Carney and all Members of Parliament... Read more


US Soybean growers disappointed in 2;4-D Anti-Dumping and Countervailing Duties vote

(Posted on 30/04/25)

The International Trade Commission in the USA has voted in favour of imposing final anti-dumping (AD... Read more


Ukraine already sown two million hectares of spring grains

(Posted on 28/04/25)

As of April 25, 2025, farmers in all regions of Ukraine have sown 2M hectares (ha) of spring grain and... Read more


Condobolin rail upgrade fast-tracks NSW grain

(Posted on 25/04/25)

GrainCorp’s rail site at Condobolin, in the heart of central west New South Wales, Australia,... Read more


Rio Tinto and AMG assess low-carbon aluminium project in India

(Posted on 22/04/25)

Rio Tinto and AMG Metals & Materials (AMG M&M), an energy transition solutions provider, have... Read more


BHP record iron ore and copper production demonstrates resilience

(Posted on 22/04/25)

BHP has released its Operational Review for the nine months ended 31 March 2025.BHP Chief Executive... Read more


WTO: Trump’s tariffs will shrink global trade

(Posted on 16/04/25)

The volume of world merchandise trade is expected to decline by 0.2% in 2025 under current conditions... Read more


$235million syndicated loan agreement to boost UAE trade with Trafigura

(Posted on 15/04/25)

In a strategic move to empower UAE exporters and advance the nation’s economic diversification... Read more


Anglo American update on sale of steelmaking coal business to Peabody

(Posted on 15/04/25)

Anglo American plc has noted the recent statement issued by Peabody Energy in relation to the definitive... Read more


Rio Tinto’s first Western Australian-made iron ore rail cars

(Posted on 03/04/25)

Rio Tinto’s first locally made iron ore rail car has been built in Western Australia, as it steps... Read more


CimbriaViganTMS Awards 2023Port of South LouisianaTBA Group
  • Geneva Dry
  • Port of Stockton
  • Cimbria

Subscribe to our newsletter

Keep up to date with the latest global news in bulk cargo handling and shipping