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Data from the Namibia Statistics Agency (NSA) shows that some 952 000 kilograms worth of cobalt were exported from the country. Registered under the universal code; 81059000, these would include all cobalt mattes and other intermediate products of cobalt metallurgy
Data from the Namibia Statistics Agency (NSA) shows that some 952 000 kilograms worth of cobalt were exported from the country. Registered under the universal code; 81059000, these would include all cobalt mattes and other intermediate products of cobalt metallurgy. The export was mostly to China and South Korea. Cobalt was reportedly first discovered in 2012 in the north-western Kunene region.
Cobalt is not the only critical mineral found in Namibia, but according to the Chamber of Mines of Namibia, the country has known deposits of lithium, graphite, tantalum, and other rare earth minerals.
According to Statista, in 2021, the average spot price of cobalt in the US stood at US$23 per pound. For the 952 000 kilograms exported last year, that would have been some US$56 million if taken at face value, and if it was in its refined state.
Cobalt, mostly exported from the Democratic Republic of Congo (DRC) is mired with allegations of child labour. The DRC was the world’s largest cobalt producer in 2021, responsible for over 70% of global cobalt supplies. Cobalt production in the DRC increased by 22,4% to 120,000 tonnes.
According to preliminary data released by the USA Geological Survey, the estimated global mine cobalt production in 2021 was at a record high of 170 000 tonnes, a 20% increase over 2020 (142 000 tonnes).
Data from the mining cadastre shows that there are no active mining operations of cobalt in the country, however, there are two exploration licences issued to Gecko Cobalt Mining (Pty) Ltd.Gecko Cobalt mining is owned by Australian company Celsius Resources Limited.
In 2018, Celsius managing director Brendan Borg told Reuters that the company had found cobalt in Namibia and “a lot of it”. “Everywhere we drill a hole along this prospective horizon we find cobalt,” he said at the time. Borg also indicated that the company was looking at late 2020 for its first production. The company’s Opuwo Cobalt Project is its flagship in the country.
In its 2020 annual report, Celsius reported that its Opuwo Cobalt Project is a globally significant deposit of cobalt-copper mineralisation containing over 126 000 tonnes of cobalt. Many of these projects are in varying stages of development, from early exploration to pre-feasibility and feasibility stages.
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https://trendsnafrica.com/glencore-to-supply-cobalt-to-samsung/
In 2021, China was the world’s leading producer of refined cobalt, most of which it produced from partially refined cobalt imported from the DRC. China was also the world’s leading consumer of cobalt, with more than 80% of its consumption being used by the rechargeable battery industry.
