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Democratic Republic of Congo, the world’s main source of vital battery ingredient cobalt, is also one of the poorest nations. And while it’s dominated by huge industrial mines, about a fifth of its silvery-blue metal is still hand-dug, in often unregulated and dangerous conditions.

Jean-Dominique Takis Kumbo, the head of the new state cobalt buyer, is determined to change that.

His Entreprise Generale du Cobalt will have a monopoly on all hand-dug cobalt in the central African country, giving it power to improve working conditions and potential control of nearly 15% of the world’s production. Takis says he’s hoping that’s a market share big enough to help influence cobalt prices the way Saudi  Arabian Oill Co., or Aramco, does with oil, and ultimately boost profit for the state.

Read more at: https://www.bloomberg.com/news/articles/2021-04-02/the-saudi-arabia-of-cobalt-congo-eyes-battery-metal-price-power