Sailors SocietyTBA GroupBühler GmbHTelestackPort of StocktonVigan
  • Cleveland Cascades Ltd
  • The Wolfson Centre for Bulk Solids Handling Technology
  • Van Aalst
  • Port of Stockton
  • Port of South Louisiana
  • Cimbria

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

BHP inaugurates a new copper concentrator in Spence

(Posted on 18/05/22)

BHP CEO Mike Henry has led the opening of Spence's new copper concentrator plant.The project required... Read more


Schenck Process announces mining business sale to Sandvik

(Posted on 12/05/22)

Schenck Process, a global company for sustainable, integrated measuring and process technology solutions... Read more


BHP completes the divestment of its BMC interest

(Posted on 05/05/22)

BHP has completed the sale of its 80 per cent interest in BHP Mitsui Coal (BMC) to Stanmore SMC Holdings... Read more


NGFA testifies on rail service failures experienced by grain shippers

(Posted on 27/04/22)

The National Grain and Feed Association (NGFA) in the USA has testified before the Surface Transportation... Read more


Challenging Q1 re-emphasises need to lift Rio Tinto’s ops performance

(Posted on 20/04/22)

Rio Tinto has released its first quarter production results. Chief Executive Jakob Stausholm, said: &... Read more


Universities: sand produced by Vale a solution to sustainability

(Posted on 14/04/22)

A report by the University of Queensland and the University of Geneva indicates that sand from iron... Read more


20 Soy schemes pass FEFAC benchmarking process

(Posted on 12/04/22)

FEFAC and ITC have announced that five more schemes offering responsible soy products to the European... Read more


US ag groups urge flexibility amid food crisis threat

(Posted on 01/04/22)

The National Grain and Feed Association (NGFA) in the USA has urged Agriculture Secretary Tom Vilsack... Read more


Rio Tinto completes acquisition of Rincon lithium project

(Posted on 30/03/22)

Rio Tinto has completed the acquisition of the Rincon lithium projectin Argentina for $825 million,... Read more


Ukrainian Grain Association call for humanitarian aid

(Posted on 23/03/22)

Following Russia’s invasion of Ukraine, the Ukrainian Grain Association has launched an non-political... Read more


The Wolfson Centre for Bulk Solids Handling Technology Multimodal 2022CimbriaVan AalstCleveland Cascades LtdPort of South Louisiana
  • TBA Group
  • TOC Events
  • Sailors Society

Subscribe to our newsletter

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