Maharashtra clears 937 hectares for Gadchiroli steel expansion Steel stock surges 29% in just two days Steel output rises 14% to 9.25 MT Infrastructure boom fuels India’s steel consumption
China's CMOC Group has become the world's largest cobalt producer, surpassing Glencore, thanks to its Kisanfu mine in the Democratic Republic of Congo. The mine, in which CATL holds a stake, has flooded the market, contributing to a surplus. Despite this, CMOC plans to increase production. However, the price of cobalt has dropped from $40 per lb to $13, affecting project economics and Western efforts to reduce reliance on China for this critical metal.
The West is now seeking to challenge China's dominance in the region, particularly in the rich Copperbelt region spanning Zambia and the Congo. KoBold Metals, backed by Bill Gates and Jeff Bezos, is exploring the Mingomba project in Zambia, known for its high-grade copper deposits. Few Western companies have ventured into the region due to political risks, poor infrastructure, and ethical concerns surrounding artisanal mining.
Also Read : Iron Ore Prices Rise on Strong Steel Output and Building Demand in China China Steel Output Slips Even as Iron Ore Imports Hit Record Highs
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