William Clowes

@WTBClowes

Bloomberg reporter in Nigeria. Formerly in the Democratic Republic of Congo. wclowes@bloomberg.net

Vrijeme pridruživanja: travanj 2015.

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  1. Prikvačeni tweet
    16. stu 2018.
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  2. prije 14 sati
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  3. 3. velj

    Very helpful thread re the new artisanal cobalt monopoly in DRC. Some useful details but quite a lot still unanswered. Begs the question why the decree set a 60 day transition period when apparently they knew they wouldn’t be ready to start buying until June.

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  4. 2. velj
    Tweet je nedostupan.
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  5. 2. velj
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  6. 31. sij

    Excuse my mind blank. I forgot to thread the thread.

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  7. 31. sij

    10)All coltan production is artisanal or maybe semi-industrial, even on “industrial” permits. Does the state intend to buy all the ore? I presume not but the decree says it should. It would be a massive undertaking and Gecamines doesn’t even operate in coltan provinces.

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  8. 31. sij

    9) While the focus of the decrees is clearly cobalt, it covers coltan too. DRC is a hugely important part of this market, which is small in financial terms but crucial due to the criticality of tantalum components in everyday electronics, as well as aerospace & automated vehicles

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  9. 31. sij

    8)What happens to the private companies developing cobalt projects in Katanga which have already signed supply agreements with local artisanal cooperatives? Are the contracts now void?

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  10. 31. sij

    7)Tshisekedi appointed a new Gecamines board in May which still hasn’t been sworn in. Yuma remains chairman but with clipped influence. The portfolio minister (FCC) hasn’t organised the ceremony to install the new board. Would this reform survive contact with the new board?

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  11. 31. sij

    6)The decrees’ signatories (PM and mines minister) and the Gecamines chairman are all from Kabila’s FCC. Does this reform have the backing of the president and CACH?

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  12. 31. sij

    5) Are the ongoing problems faced by Gecamines' top officials re 128 euro loan from Ventora holding up the implementation of the decrees? They were signed in November and a transitional period ended in early January. The regulator and company should be up and running by are not.

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  13. 31. sij

    4)Does Gecamines have the upfront capital to acquire all the artisanal ore? Will the new company need a start-up loan to commence purchasing operations? If it can’t buy the ore for whatever reason, will it just sit there unsold?

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  14. 31. sij

    3)Gecamines doesn’t have capacity to process the artisanal cobalt, so what kind of partnerships or subcontracts will it establish to refine the stuff? Who’ll benefit?

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  15. 31. sij

    2)It’s a lot of cobalt. “DRC artisanal” is the second biggest source in the world after “DRC industrial”

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  16. 31. sij

    1) A few thoughts on the legally effective but not yet implemented DRC state monopoly on artisanally produced “strategic” metals (i.e. cobalt and coltan)

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  17. 31. sij

    Je pensais à l'époque que c'était une stratégie "audacieuse" pour montrer que le nouveau pouvoir allait faciliter la vie des Kinois en créant tout d'abord une nuisance massive dans la ville.

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  18. proslijedio/la je Tweet
    30. sij
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  19. 30. sij

    Congo Moves to Monopolize About 25% of All Cobalt Exports The state has exclusive rights to buy artisanal cobalt, according to a November 2019 decree, BUT not so fast. Neither the regulator nor buying company are up & running yet.

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  20. proslijedio/la je Tweet
    30. sij

    Potentially a hugely important story for the market... unclear whether it is good or bad news for attempts to ensure the cobalt in your EV is ethically sourced

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  21. proslijedio/la je Tweet
    30. sij

    New: A judge in London convicted billionaire's daughter Anna Machkevitch of failing to comply with a demand to hand over documents as part of an investigation into her mining mogul father. Win for the

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