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Very interesting background article to the growth potential of mineral extraction in DRC, and why this country id being targeted by the USA and others.
"The International Energy Agency estimates that manufacturers of clean energy technologies will need forty times more lithium, twenty-five times more graphite, and about twenty times more nickel and cobalt in 2040 than in 2020. Due to this global shortage of critical minerals, Africa—which is home to around 30 percent of the world’s mineral reserves—has become a site of great power competition. The DRC and Zambia, in particular, are among the world’s leading producers of certain critical minerals. The DRC produces close to 70 percent of the world’s cobalt, which is essential for the production of EV batteries (see figure 1)."
https://carnegieendowment.org/research/2023/08/what-a-us-drc-zambia-electric-vehicle-batteries-deal-reveals-about-the-new-us-approach-toward-africa?lang=en
Cobalt is finished Mike.
Cobalt would likely be shipped by rail and train.
By road and rail. Slap forehead.
How hard is it to write one sentence for gawd's sake
Cobalt would be exported by ship, road and rail.
Where did I say it was going to be shipped by plane?
I said it was interesting background info on DRC's mineral resources!
You doom mongers need to up your game.--- revenues from our airport contract starting soon. Tick Tock.
However,... an increase in the wealth of the nation, which will result from the increase in demand for Cobalt, willl result in wealthier individuals,.... which tends to hand in hand with travel,.... and this will have long terms growth implications in terms of the aviation industry. If only we had a 10+5yrs contract including the largest international airport in the DRC. ------ oh,..... and have you seen the current upgrade to DRC's Port,...... due to open 2025?... hmmm ...
"But the production increase came alongside a shift by some automakers toward replacing cobalt in their batteries, turning to cheaper alternatives. Battery producers have also started moving away from the metal to avoid human rights issues and environmental problems linked to cobalt mining in the Democratic Republic of Congo, where safe practices have been a challenge."
"The three-month London Metal Exchange price for cobalt dropped 35.7% year on year to $33,420/mt as of Dec. 1, according to S&P Global Market Intelligence data. As of Dec. 22, the three-month price has plunged further to $29,135/mt."
"Challenges faced by cobalt producers have been compounded by the rise of low-cobalt batteries as battery makers develop new chemistries that use less of the metal than ever before. US and European carmakers have been working to avoid cobalt from the DRC because of allegations of labor and environmental abuses. DRC produced 73.3% of the world's cobalt in 2022, according to S&P Global Market Intelligence data."
https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/metals/122723-oversupply-low-prices-for-cobalt-to-persist-in-2024-as-demand-slips
The DRC is thought to be the richest country in the world for natural resources thought to be valued at 24 Trillion dollars.I don’t think these resources can be ignored by the world and in the future I’m convinced this will reflect in more business being done and air traffic improving greatly we are in the right place for growth over the time of our contract and if we can get the security contract for the commercial side it will be our goldmine.mg
Yep, the interest in WSG is extraordinary
More interest in my post than yours.mg
Hopefully patience will pay in due course. I believe all is on track and radio silence maintained due to the sensitive nature of the contract and area. Most unlike PF but understandable.
Ian: there’s probably not much to say. Hopefully we’ll hear once revenues start.
When they can give us a more accurate feeling on passenger numbers we may get a bump. But I suspect we’ll hear about the next MSC before too long and that will hopefully really get us going.