DRC Resumes Copper and Cobalt Shipments After Strike Resolution
End of Strike and Resumption of Shipments
The truck drivers' strike in the Democratic Republic of Congo (DRC), which had hindered copper and cobalt exports, has been resolved. The strike, primarily involving drivers from Zambia and Tanzania, began around the end of October, impacting the transportation of these critical green energy metals from the Kolwezi mining center. The strike's conclusion has now reopened pathways for exporting copper and cobalt, essential for the global supply chain.
Impact on Mining Operations
The strike had threatened exports from significant mines operated by companies such as Glencore, CMOC Group, and Ivanhoe Mines. The DRC, known as the world's largest cobalt producer and a major copper source, typically transports these raw materials by truck to Zambia, en route to ports in South Africa, Tanzania, and Mozambique.
Resolution and Negotiations
The drivers had demanded an additional $700 per trip as risk compensation. The resolution came after diplomatic interventions, including a visit by Tanzania's ambassador to Congo to Kolwezi for discussions with the regional governor. This diplomatic effort helped in resolving the dispute and ending the strike.
Ivanhoe Mines confirmed that its trucks had resumed movement since November 9. The company noted that any transportation delays caused by the strike were quickly resolved and that its operations remained unaffected by the recent events.
The resolution of the strike in the DRC marks a significant development in ensuring the steady flow of copper and cobalt, vital for various industries, particularly in the growing field of green energy and electric vehicle production.
