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Yahoo
an hour ago
- Business
- Yahoo
Fortune Minerals Reports Additional Cobalt, Gold & Copper Process Optimization Validation for the NICO Project
The Alberta Hydrometallurgical Facility will process a bulk concentrate produced at the NICO mine and concentrator in the NWT, and other feed sources that the Company has identified. Concentrate from the NWT will be repulped, reground to minus 14 microns, and floated into separate gold-bearing cobalt and bismuth concentrates. The cobalt concentrate will be blended with the leach residue from the bismuth circuit after bismuth has been recovered in order to capture the contained gold in one process stream. The blend will then be fed into an autoclave with oxygen for processing by Pressure Oxidation (" POX ") to dissolve the contained cobalt and copper in an autothermic reaction that also contributes acid. Recent test work successfully confirmed the 2008 pilot-validated POX conditions at the design feed grade and for a low cobalt grade feed variability condition. Extractions were 97% for cobalt and 74% for copper at the design feed grade vs. 95% for cobalt in the 2008 pilot plant. Extractions using an off-specification low-grade cobalt feed confirmed the previous 95% cobalt recovery and 79% for copper. The NICO Project consists of a planned mine and concentrator in the Northwest Territories (" NWT ") and a hydrometallurgical process facility in Lamont County, Alberta where concentrates from the mine, and other feed sources, will be processed to value-added products for the energy transition, new technologies, and defence industries. Development of the NICO Project will provide a reliable North American vertically integrated supply of cobalt sulphate, gold doré, bismuth ingots, and copper cement, thereby enhancing the domestic production of three critical minerals, plus 1.1 million ounces of in-situ gold as a countercyclical co-product to mitigate metal price volatility. LONDON, Ontario, July 22, 2025 --( BUSINESS WIRE )-- Fortune Minerals Limited (TSX: FT) (OTCQB: FTMDF) (" Fortune " or the " Company ") ( ) is pleased to report additional process optimization test work validation for the NICO cobalt-gold-bismuth-copper critical minerals project in Canada (" NICO Project "). The test work was completed at SGS Canada Inc. (" SGS ") in Lakefield, Ontario and proved additional enhancements to the cobalt, gold and copper circuits and recoveries for the planned Alberta Hydrometallurgical Facility, expanding on the improvements already announced for the mill, concentrator and bismuth circuits (see January 8 and May 9, 2025, news releases). The Process Design Criteria have been compiled and delivered to Worley Canada Services Ltd. (" Worley ") for engineering evaluation and incorporation into the Company's updated Feasibility Study in progress. Story Continues Liquid / Solid separation of the autoclave POX discharge was proven to be unnecessary, allowing for streamlining of the previous 2008 flowsheet and significantly lower the capital and operating costs. The entire autoclave discharge slurry will now be subjected to non-oxidative pre-neutralization and will no longer require the addition of oxygen or heating, and the residence time has been reduced to 0.5 hours as compared to the 5 hours with heat, oxygen and a hydrogen peroxide finish in the 2008 pilot. This simplified pre-neutralization process also effectively removed 99% of the arsenic contaminant without any cobalt losses from co-precipitation or entrapment and eliminated the need for a re-leach step that was also part of the previous 2008 flow sheet. Similar results were achieved using limestone or lime as the neutralization reagent, allowing for process design and cost flexibility. Gold recoveries from the combined autoclave leach residue using the more direct process optimization were also higher, ranging between 97% and 98% compared to 95% recoveries using the 2008 pilot demonstrated targets. Further study of the gold deportation during flotation for the NWT concentrator also identified losses to the cleaner scavenger tails when processing higher gold content ores. These tails can be selectively stockpiled at the mine site for subsequent processing at the Alberta Hydrometallurgical Facility. Leaching tests carried out at SGS verified that about 83% of the gold contained in these tails can be recovered using the same process conditions and equipment that will be installed to recover the bulk of the gold contained in the autoclave leach residue. However, inclusion of this gold stream would reduce the combined gold recovery from 98% to 95% - the same recovery indicated in the 2008 pilot. Pre-neutralized autoclave Pregnant Leach Solution ("PLS") that was separated from the gold plant feed residue was subjected to copper cementation tests and confirmed that a polishing step will no longer be required. Secondary neutralization of the copper cementation process indicated complete removal of iron and arsenic from the discharge regardless of using air or oxygen and will not require heating as a further improvement. Selective precipitation of a gypsum by-product could not be achieved with arsenic concentrations below 30 parts per million ("ppm"), exceeding the upper limits for the products Fortune had identified for potential sale. Production of a gypsum by-product has therefore been deferred until the Company identifies an alternative market for this material. Toxicity Characteristic Leaching Procedure ("TCLP") and Acid Base Accounting ("ABA") abatement tests were carried out on the gold leach discharge residues generated from the autoclave and the cleaner scavenger tails, both individually, and when they were combined. Tests confirm they are not leachate toxic and can be deposited in a government approved Class 2 landfill. Fortune expects to complete its optimization validation test work next month after verifying the cobalt PLS manganese removal, Solvent-Extraction ("S-X") purification step, and evaporation and crystallization conditions for a high purity cobalt sulphate heptahydrate product for the lithium-ion rechargeable battery industry. "We are very pleased with the results of the process optimization test work, which continues to exceed the Company's expectations and support higher metal recoveries and a potential material reduction in the capital and operating cost for the Company's planned Alberta Hydrometallurgical Facility," stated Robin Goad. Fortune's President and CEO. Government Support Fortune is working closely with the Government of Canada, the Government of Alberta and the Government of the United States to expand North American critical minerals production and enhance domestic supply chain resilience and security. The Company has been awarded ~C$17 million of non-dilutive contribution funding from the U.S. Department of Defense through its Defense Production Act Title III program, Natural Resources Canada's Global Partnerships Initiative and Critical Minerals Research Development and Demonstration programs, and Alberta Innovates Clean Resource Intake program. These funds are helping Fortune complete metallurgical improvements, updated Feasibility and Front-End Engineering and Design ("FEED") studies, and secure the remaining permits needed to finance, construct and operate the NICO Project (see news releases dated, May 16, 2024, and December 5, 2023). China has effectively cornered the supply for many critical minerals through a decades-long policy of proactive strategic investment in mines and mid- and down-stream processing, financed with low-cost loans from its sovereign banks. Western democratic governments have now recognized the risks associated with critical mineral supply disruptions from this dominance and are investing in domestic production and collaboration among countries with fair trade practices. At the recent G7 Summit in Kananaskis, Alberta, world leaders agreed on strategies to strengthen critical minerals supply. " Non-market policies and practices in the critical minerals sector threaten our ability to acquire many critical minerals ", the draft statement said. " Recognizing this threat to our economies, as well as various other risks to the resilience of our critical minerals supply chains, we will work together and with partners beyond the G7 to swiftly protect our economic and national security." Following the summit, Canada's Prime Minister Mark Carney also commented, "We will create a critical minerals production alliance, a G7-led strategic initiative to stockpile and develop critical minerals needed for defence and technology". The G7 agreed to work together to anticipate critical minerals shortages, coordinate responses to deliberate market disruption, and diversify mining, processing, manufacturing, and recycling. Further to this commitment to shore up critical mineral supplies, Carney said Canada can in part meet its potential annual $150 billion NATO spending obligation with investment in extracting, processing and exporting Canada's critical minerals to allies that will count towards the 5% of GDP target. About Fortune's Metals The Minerals Reserves for the NICO Project contain four payable metals, including cobalt, gold, bismuth and copper. The Alberta Hydrometallurgical Facility will be a mid-stream process plant to produce value-added products with supply chain transparency and custody control of the contained metals. Fortune's cobalt production is targeting the rapidly expanding lithium-ion rechargeable battery industry needed to power electric vehicles, portable electronics and stationary storage cells. Cobalt is also used in aerospace superalloys, permanent magnets, cutting tools, cemented carbides, catalysts and pigments. The annual cobalt market is ~245,000 metric tonnes and is anticipated to grow to ~350,000 metric tonnes by 2030. The Democratic Republic of the Congo produces ~78% of global cobalt mine production, more than 60% of which is controlled by Chinese companies, which also control ~83% of refinery production and ~93% of the production of cobalt chemicals. Bismuth's unique physical and chemical properties are difficult to substitute with other metals, and the NICO Project is the largest known deposit in the world with 12% of global reserves. Bismuth is used in automotive glass and steel coatings, paints and pigments, and brake pads. It is also used to make low melting temperature and dimensionally stable alloys and compounds, fire suppressant systems, cosmetics and pharmaceuticals. Bismuth consumption is increasing as an environmentally safe and non-toxic replacement for lead in brass, solder, free machining steel and aluminum, galvanizing alloys, glass, ceramic glazes, and ammunition. Bismuth-tin alloy is used to make environmentally safe plugs to properly seal decommissioned oil and gas wells. Bismuth is also used in high performance semiconductors, solders for artificial intelligence data centers, and supercomputers. Manganese-bismuth magnets are resistant to demagnetization from heat. In the nuclear industry, bismuth is used for radiation shielding, coolants in some reactor designs, and it is a collector for plutonium in fuel re-processing and enrichment. China controls ~80% of current bismuth mine production and ~90% of refinery supply in an annual market of ~23,000 metric tonnes growing at ~7.5% CAGR. About the NICO Project Fortune has expended approximately C$145 million to advance the NICO Project from an in-house mineral discovery to a near construction-ready development asset with environmental assessment approval and the major mine permits already secured in the NWT. NICO and the Company's nearby Sue-Dianne copper deposit are IOCG-type mineral deposits with multiple payable metals, reducing the Company's vulnerability to price volatility or market manipulation. The Open Pit and Underground Mineral Reserves for the NICO deposit contain 33.1 million metric tonnes of ore containing 1.1 million ounces of gold, 82.3 million pounds of cobalt, 102.1 million pounds of bismuth, and 27.2 million pounds of copper. Development of the NICO Project would provide vertically integrated domestic production of three critical minerals to help diversify the current sources of supply from foreign entities of concern with a highly liquid and countercyclical gold co-product. The NICO Project will have average annual production during the first 14 years of the 20-year mine life of 1,800 metric tonnes of cobalt contained in 8,780 tonnes of cobalt sulphate, 47,000 troy ounces of gold in doré bars, 1,700 metric tonnes of bismuth in high purity ingots, and 300 tonnes of copper in a cement product. For more detailed information about the NICO Mineral Reserves and certain technical information in this news release, please refer to the Technical Report on the NICO Project, entitled "Technical Report on the Feasibility Study for the NICO-Gold-Cobalt-Bismuth-Copper Project, Northwest Territories, Canada", dated April 2, 2014 and prepared by Micon International Limited which has been filed on SEDAR and is available under the Company's profile at The disclosure of scientific and technical information contained in this news release have been approved by Robin Goad, President and Chief Executive Officer of Fortune and Alex Mezei, Fortune's Chief Metallurgist, who are "Qualified Persons" under National Instrument 43-101. About Fortune Minerals Fortune is a Canadian mining company focused on developing the NICO cobalt-gold-bismuth-copper project in the NWT and Alberta. Fortune also owns the Sue-Dianne copper-silver-gold satellite deposit located 25 km north of the NICO deposit and a potential future source of incremental mill feed to extend the life of the NICO concentrator. Follow Fortune Minerals: Click here to subscribe to Fortune's email list. Click here to follow Fortune on LinkedIn. @FortuneMineral on X. This press release contains forward-looking information and forward-looking statements within the meaning of applicable securities legislation. This forward-looking information includes statements with respect to, among other things, the construction of the proposed mine and concentrator in the NWT and the hydrometallurgical process facility in Alberta, the potential for expansion of the NICO deposit and the Company's plans to develop the NICO Project. Forward-looking information is based on the opinions and estimates of management as well as certain assumptions at the date the information is given including, in respect of the forward-looking information contained in this press release, assumptions regarding: the successful completion of the Company's updated feasibility study, the Company's ability to secure the necessary financing to fund the working capital required for the government funded work, the Company's ability to complete construction of a NICO Project hydrometallurgical process facility; the Company's ability to secure other feed sources for the hydrometallurgical process facility, the Company's ability to arrange the necessary financing to continue operations and develop the NICO Project; the receipt of all necessary regulatory approvals for the construction and operation of the NICO Project and the related hydrometallurgical process facility and the timing thereof; growth in the demand for cobalt and bismuth; the time required to construct the NICO Project; and the economic environment in which the Company will operate in the future, including the price of gold, cobalt, bismuth and other by-product metals, anticipated costs and the volumes of metals to be produced at the NICO Project. However, such forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. These factors include the risks that the Company may not be able to complete the metallurgical test work to validate process improvements, update the Feasibility and FEED studies and secure the remaining permits and authorizations needed to construct and operate the mine, concentrator in the NWT and hydrometallurgical facility in Alberta, the Company may not achieve material reductions in the cobalt and gold circuit sizes, the Company may not achieve the anticipated reductions in capital and operating costs, the Company may not be able to economically discharge residues in a Class 2 landfill, the Company may not be able to finance and develop NICO on favourable terms or at all, uncertainties with respect to the receipt or timing of required permits, approvals and agreements for the development of the NICO Project, including the related hydrometallurgical process facility, the construction of the NICO Project may take longer than anticipated, the Company may not be able to secure offtake agreements for the metals to be produced at the NICO Project, the Sue-Dianne Property may not be developed to the point where it can provide mill feed to the NICO Project, the inherent risks involved in the exploration and development of mineral properties and in the mining industry in general, the market for products that use cobalt or bismuth may not grow to the extent anticipated, the future supply of cobalt and bismuth may not be as limited as anticipated, the risk of decreases in the market prices of cobalt, bismuth and other metals to be produced by the NICO Project, discrepancies between actual and estimated Mineral Resources or between actual and estimated metallurgical recoveries, uncertainties associated with estimating Mineral Resources and Reserves and the risk that even if such Mineral Resources prove accurate the risk that such Mineral Resources may not be converted into Mineral Reserves once economic conditions are applied, the Company's production of cobalt, bismuth and other metals may be less than anticipated and other operational and development risks, market risks and regulatory risks. Readers are cautioned to not place undue reliance on forward-looking information because it is possible that predictions, forecasts, projections and other forms of forward-looking information will not be achieved by the Company. The forward-looking information contained herein is made as of the date hereof and the Company assumes no responsibility to update or revise it to reflect new events or circumstances, except as required by law. View source version on Contacts Fortune Minerals Limited Troy Nazarewicz Investor Relations Manager info@ Tel: (519) 858-8188
Yahoo
4 days ago
- Automotive
- Yahoo
How to invest in electric cars from stocks to ETFs
The electric vehicle market has grown significantly over the past decade. In 2012, only 120,000 electric vehicles were sold globally, according to the International Energy Agency. In 2024, global EV sales reached more than 17 million vehicles and sales are expected to top 20 million vehicles in 2025. Switch Auto Insurance and Save Today! The Insurance Savings You Expect Great Rates and Award-Winning Service Affordable Auto Insurance, Customized for You As government regulations limiting carbon emissions increase, automakers have been forced to shift their attention to electric cars. Many companies are vying to get a piece of the EV market, from the automakers themselves to those that supply parts and components used in EVs. The potential for growth makes the EV industry attractive to investors, but success is far from guaranteed. The EV industry faces challenges from a few angles. Volatile commodity prices could cause the price for EVs to rise, potentially impacting demand. Prices for lithium, cobalt and copper have seen big swings in recent years, and they are key inputs into electric vehicles and their prices could impact how fast the industry grows. Infrastructure for charging EVs will also need to be built out so that travelers can recharge their vehicles quickly, similar to the way gas stations exist today. Future regulation and insurance costs could also impact the ultimate path of the EV industry. Still, investors looking to capitalize on the growth of the EV industry can invest in two ways: buying individual stocks of companies involved with EVs or buying funds that hold a variety of EV stocks, such as through exchange-traded funds, or ETFs. Electric vehicle stats U.S. sales of electric vehicles topped 310,000 during the second quarter of 2025, according to Cox Automotive. The average price of a new electric vehicle was $56,910 in June 2025, according to Kelley Blue Book (KBB), down 2.8 percent from June 2024. Tesla had the highest EV market share during the second quarter of 2025 at 46.2 percent, according to KBB. Investing in electric vehicle companies Top 5 EV companies in the United States: Tesla (TSLA) General Motors (GM) Ford (F) Hyundai (HYMTF) BMW (BMWKY) All five of these companies offer electric vehicles, with Tesla being the clear market leader. Tesla held a 46.2 percent market share of EV sales during the second quarter of 2025, according to Kelley Blue Book. Its Model 3 and Y vehicles combine to account for more than 40 percent of EV sales in the U.S. Tesla is unique in that it focuses on electric vehicles exclusively, whereas other automakers, such as Ford and General Motors, still produce gas-powered vehicles. These legacy manufacturers are looking to ramp up their production of EV vehicles in the coming years in order to meet regulatory requirements and capitalize on growing demand for EVs. Other EV manufacturers include BYD (BYDDY), Rivian Automotive (RIVN), NIO (NIO) and Li Auto (LI). The stock prices of EV makers will ultimately be driven by the results of their underlying businesses. If these companies can grow sales profitably, they'll likely see their stocks rise over time. But keep in mind that stock prices today reflect future growth expectations, so paying a high price today means you expect and need high growth for the investment to be successful. The auto industry has historically been a cyclical business, meaning the industry's sales and profits rise and fall with the overall economy. Buying these companies during cyclical downturns may be a better strategy than buying them when sales and profits are hitting records. While the potential for future growth is attractive to investors, the EV industry is not without risks. High-growth industries often attract lots of competition that can hurt the returns investors ultimately earn. Stock prices can also be overpriced in exciting new industries, causing investors to overpay for growth that may or may not materialize. Be sure to understand the companies you're investing in before making a purchase, or consider choosing a more diversified portfolio available through an electric vehicle ETF. Investing in electric vehicle ETFs Electric vehicle ETFs to consider: iShares Self-Driving EV and Tech ETF (IDRV) Global X Autonomous & Electric Vehicles ETF (DRIV) Amplify Lithium & Battery Tech ETF (BATT) If you're interested in investing in the EV industry, but don't want to choose individual stocks to buy, an EV-focused ETF may be what you're looking for. ETFs hold baskets of stocks, so they're more diversified than if you were just holding a single company. Keep in mind, however, that an ETF focused on a single industry isn't broadly diversified, which means it still could see significant declines if something impacts the industry directly. Pay attention to an ETF's holdings, past performance and expense ratio before making a purchase. Fund companies often launch trendy ETFs to capitalize on investor interest in a certain industry and charge high fees to take advantage of the euphoria. Investing in electric vehicle suppliers Companies to consider: BorgWarner (BWA) BYD (BYDDY) Albemarle (ALB) Aptiv (APTV) Another way to invest in the EV market is to focus on companies that supply a number of different EV makers, which means you don't have to predict which manufacturer will be the ultimate champion. Companies such as BorgWarner and Aptiv supply different components used in EVs, while BYD produces rechargeable batteries in addition to making EVs themselves. Albemarle, on the other hand, is a specialty chemicals company that produces lithium compounds used in lithium batteries, which are used in EVs, among other products. These companies should see their sales tied to EVs grow as the overall level of demand for EVs continues to increase. Just as with the pure EV makers, suppliers to EV companies can get bid up to prices that make it difficult for investors to earn attractive returns. Growth doesn't always materialize as quickly as investors hope and there can be bumps in the road. Shortages that lead to high prices for components today can shift to periods of oversupply and falling prices. Pros and cons of investing in electric vehicles Pros Growing industry Declining manufacturing costs over long-term may lead to more affordable pricing Government regulations supporting EV industry growth Cons Consumers unfamiliar with product High prices for investors Limited charging stations nationwide could hurt EV sales One of the major benefits of investing in the EV industry is the tailwind provided by changing government regulations that limit carbon emissions and push automakers to focus on electric vehicles. This will likely lead to growth for the overall EV market over the long term. Though recently in the U.S., the Trump administration has been less friendly toward the EV industry. The recent tax bill signed into law on July 4 eliminated a tax credit of up to $7,500 for purchases of electric vehicles. A 2023 survey by Consumer Reports revealed that about 70 percent of Americans said they'd have at least some interest in buying or leasing an electric vehicle. The interest was mostly driven by potential cost savings, either on gas or maintenance. However, some consumers are skeptical of electric vehicles and are hesitant to purchase one. People have been driving gas-powered vehicles for a long time, so it could take years before they're comfortable with an EV. There's also the challenge of where to charge an EV if you drive on a long trip. While many people will charge their EVs at home during the night, longer trips will require a large network of recharging stations to be built similar to the way gas stations exist today. How quickly this network can get built may go a long way in determining how quickly EVs are adopted by consumers. Be sure to research any EV investments thoroughly before making a purchase and consider using ETFs that allow for a more diversified portfolio. FAQs about investing in EV investing What are the risks of investing in electric car companies? Investing in the EV industry comes with several risks. Here are some of the major ones to consider. Competition: The EV industry is extremely competitive with several well-financed companies vying to become industry leaders. Competition often limits the returns that investors can earn in an industry. Valuation: The EV industry has high growth potential, which has led investors to bid up the stock prices of companies in the industry. This creates the risk that investors will overpay for a company's stock, leading to disappointing or even negative returns. Commodity prices: The EV industry could face pressure due to volatile costs for certain commodities used in EV manufacturing such as lithium, cobalt and copper. Also, a decline in oil prices could make gasoline more affordable, potentially limiting demand for EVs. Economic risk: The auto industry has historically been cyclical in nature. The purchase of a new car is discretionary and often easy to delay if there's an economic downturn. The EV industry could see a slowdown if the economy were to enter a recession. What is the minimum investment required to invest in electric car ETFs? The minimum investment required to purchase an electric vehicle ETF is usually the cost of a single share. However, many online brokers now allow customers to purchase fractional shares of ETFs, so you may be able to invest with smaller amounts of money. Are electric car ETFs suitable for long-term investments? Whether or not electric vehicle ETFs are suitable long-term investments will depend on how the industry develops as well as the goals and risk tolerance of the individual investor. Investing in the EV industry comes with several risks, so it may not be suitable for all investors. On the other hand, investors looking for industries with significant growth potential may find electric car ETFs to be an attractive opportunity. Should I invest in electric car companies? The unique circumstances of an individual investor will dictate whether it makes sense to invest in electric car companies. Some investors may decide they're comfortable with the industry's risks and think its growth potential outweighs them, while others may be turned off by the high valuations and amount of competition. These are the issues investors will have to consider before deciding whether they'd like to invest in the EV industry. Editorial Disclaimer: All investors are advised to conduct their own independent research into investment strategies before making an investment decision. In addition, investors are advised that past investment product performance is no guarantee of future price appreciation. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Bloomberg
5 days ago
- Business
- Bloomberg
Special Forces Veterans Lead US Bid to Buy Congo Cobalt Miner
A US consortium involving ex-special forces personnel is seeking to acquire Chemaf Resources Ltd., a copper and cobalt producer that has become a symbol of the growing competition for mineral deals between the US and China in the Democratic Republic of Congo. Orion Resource Partners and Virtus Minerals are jointly negotiating the purchase of Chemaf, according to people familiar with the matter. While the US firms are in pole position to acquire Trafigura Group -backed Chemaf, the parties haven't entered into an exclusivity agreement as aspects of the deal are yet to be finalized, one of the people said, asking not to be identified as the talks are private.
BBC News
5 days ago
- Automotive
- BBC News
West Midlands electric car battery recovery project given £8.1m
A project to recover lithium, nickel and cobalt from used batteries has been awarded £8.1m to continue its Innovation, a collaboration between Jaguar Land Rover, LiBatt Recycling and the University of Warwick, said it wanted to use the money to demonstrate its work is receiving half the money from the government, as part of a £2.5bn commitment to support the transition to electric three-year project is due to take place in the West Midlands, ending in 2028. Mint said the UK was expected to produce 235 kilotons of electric vehicle battery waste by 2040, but lacked industrial-scale recyclers to reuse the Will Barker, CEO of Mint Innovation, said its aim was to "advance zero emission automative manufacturing at a faster pace".The partnership said the technology would be used to ensure a "sustainable lifecycle for lithium-ion batteries, from end-of-life battery supply and processing through to integrating recycled materials into new batteries". Follow BBC Coventry & Warwickshire on BBC Sounds, Facebook, X and Instagram.
Zawya
6 days ago
- General
- Zawya
From Mine Shafts to Classrooms: How a Cobalt Mining Town is Reclaiming Childhood and Rebuilding Hope
Thirteen-year-old Beni Cial Yumba Musoya used to spend her days scavenging for cobalt under the scorching sun in the artisanal mines of Kolwezi. Today, she dreams of donning a white coat and saving lives. "I want to be a doctor," she says, smiling shyly from her wooden desk at Kasanda Primary School in Kasulo, a neighbourhood nestled in Congo's mining heartland of south-eastern Democratic Republic of Congo. "I will build schools and health centres to help people, just as I was helped before," she continues. Beni is one of thousands of Congolese children whose lives have been transformed by the Support Project for Alternative Welfare of Children and Young People Involved in the Cobalt Supply Chain (PABEA-COBALT) ( a bold $82 million initiative funded by the African Development Bank. The project aims to eliminate child labour in the cobalt sector – an industry vital to the global tech economy, yet plagued by poverty, informally and exploitation. The atmosphere here has changed dramatically. Just a few years ago, the soundscape of Kasulo was dominated by the roar of rudimentary mining machinery and the shuffle of children burdened by sacks of ore. Today, those echoes have been replaced by the buzz of classrooms, the chatter of pupils at recess, and the laughter of children rediscovering play and learning. In early 2022, PABEA-COBALT identified more than 16,800 Congolese children working in artisanal cobalt mines in the provinces of Haut-Katanga and Lualaba. Since then, 13,587 of them - including Beni – have been enrolled in schools. Many attend newly constructed or rehabilitated facilities like Kasanda Primary School, where education, healthcare, psychological support and civil registry services are provided at no cost. 'Before, I used to collect minerals in artisanal mines. That was all I knew,' recalls Beni, her expression briefly clouded by painful memories. A few steps away, Marie Samba tends to her hens and quails, her hand dusted with feed rather than cobalt residue. A former mine worker, Marie once spent her days sorting and washing cobalt to survive. Today, she's a trained poultry farmer. "I used to collect and wash minerals to sell them," she sighs. Marie is one of over 10,500 parents and guardians supported by the project – well above the initial target of 6,250. They have received training in agriculture and livestock farming, as well as materials to start-up kits to launch small businesses. Additionally, 8,200 young people formerly working in the mines are being supported to integrate into school, vocational training, or income-generating activities. "We have been educated and trained in livestock farming and agriculture. We have also been given supplies to start our activities. I didn't think I could change my life like this," says Marie Samba, who is delighted with the excellent results she is achieving with her poultry farm PABEA-COBALT has also helped establish two entrepreneurship centres in Haut-Katanga and Lualaba, equipped with modern equipment for agriculture, livestock farming and food processing. These centres serve as anchors for change, empowering young people and parents to build livelihoods away from the mines. 'One of the project's greatest successes is that it has anchored change from within the communities,' says project coordinator Alice Mirimo Kabetsi. 'Solutions don't just come from outside: they are now driven by parents, teachers and young people themselves. This model proves that by focusing on education and local entrepreneurship, we can break the cycle of child labour in the mines for good," she said. Across the region, this shift is tangible. Nearly 1,000 agricultural cooperatives have been reorganized, strengthening local agricultural and livestock value chains and offering new economic opportunities. The transformation has drawn international attention. A recent report from the DRC's National Human Rights Commission titled Child labour in artisanal cobalt mining sites ( produced in collaboration with the UN Human Rights Council, commended the project's 'tangible results' and urged replication in other mining-affected region across the Great Lakes. Back in Kasulo, children like Beni are rediscovering their childhood dreams and the power of innocence. Mothers like Marie are holding their heads high, proud to be building a future free from the cobalt mines. For partners such as the African Development Bank, this project has not only changed lives. It has paved the way for a whole generation growing up far from the mines and building, day after day, a stronger, fairer and resolutely forward-looking society. Distributed by APO Group on behalf of African Development Bank Group (AfDB). About the African Development Bank Group: The African Development Bank Group is Africa's premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 41 African countries with an external office in Japan, the Bank contributes to the economic development and the social progress of its 54 regional member states. For more information:
