Morning Guys
The reported minimum 1% Cobalt feed into the WFE plant I personally think is BS , Its may be the minimum , but noway in my opinion will it be the Norm !
I personally believe after a piles of research into the Chinese and Indian buyers WFE will be purchasing closer to around 3% Cobalt and 5% Copper , I also am sure they have Months ( More Like ) Years of delivery sheets proving exactly what has been delivered and at what the cost to the Chines and Indian buyers
In Kolwezi, a mining town in southeastern DRC, Chinese entrepreneurs dominate the middle section of the market, purchasing the raw cobalt from miners and selling it on for refining.
Transactions in the buying houses depend on the purity of the ore. There are approximately 30 major kinds of cobalt-bearing rock and over 100 more where the metal is present in smaller quantities.
Handwritten signs at the buying houses in Kolwezi show the varying
prices offered for a ton: "3% = $500" and "
15% = $7 000".
The middlemen - predominantly Chinese and some Indians - then sell the raw material to operators for semi-processing. 80% exported to China !
The above prices are from when LME Cobalt prices were double what they are today , Ive ask a friend in the DRC to take some photos for me so we can get a Idea of the latest selling prices !
As long as KumiConsulting Audit these guys , WFE will be fine !
