Port of South LouisianaTelestackTOC Europe 2023Sailors SocietyTBA GroupCimbria
  • Sailors Society
  • Bühler GmbH
  • Cimbria
  • TBA Group
  • Telestack
  • Port of Stockton

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 and Hatch design study for electric smelting furnace pilot

(Posted on 24/03/23)

BHP and global engineering, project management and professional services firm, Hatch, have signed an... Read more


Rio Tinto spends over A$15.3 bn with Australian suppliers

(Posted on 20/03/23)

Rio Tinto increased its spend with Australian suppliers to more than A$15.3 billion in 2022, as part... Read more


Trafigura closes the refinancing and extension of credit facilities

(Posted on 20/03/23)

Trafigura Group Pte Ltd., a market leader in the global commodities industry, has announced the closing... Read more


Nexyst 360 selects Nexxiot to digitalize 5000 grain containers

(Posted on 07/03/23)

Nexyst 360, an innovative grain transportation solution provider, has partnered with Nexxiot to digitalize... Read more


Cargill strengthens executive team

(Posted on 28/02/23)

Cargill has announced the appointments of Joanne Knight as Chief Financial Officer (CFO) and Philippa... Read more


SACE’s Push Strategy to support supplies of commodities to Italy

(Posted on 24/02/23)

Trafigura, a market leader in the global commodities industry, has entered into a USD 500 million five... Read more


Job losses loom as British steel proposes coke ovens closure

(Posted on 22/02/23)

British Steel has announced proposals to close its coke ovens as part of its drive to overcome global... Read more


Rio Tinto and Marubeni to create stronger Aluminium supply chains

(Posted on 20/02/23)

Global miner Rio Tinto and Japanese trader and business conglomerate Marubeni Corporation have agreed... Read more


Trafigura completes acquisition of Ecobat Stolberg multi-metals plant

(Posted on 20/02/23)

Trafigura, a market leader in the global commodities industry, and Ecobat, the global leader in battery... Read more


EUROFER welcomes ITRE report

(Posted on 13/02/23)

Hydrogen is at the core of the green steel transition. Ensuring access to this scarce resource &ndash... Read more


Bühler GmbHThe Wolfson Centre for Bulk Solids Handling Technology Van AalstPort of StocktonVigan
  • The Wolfson Centre for Bulk Solids Handling Technology

Subscribe to our newsletter

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