Special licence is part of a wider deal that will see state-owned holding MIND ID become PT Vale’s largest shareholder, with 34% ownership.

Production at the new plant was expected to begin around the end of 2025, representing a $290 million investment.

CMOC said in March that its Tenke and Kisanfu projects in Congo will produce more than 60,000 tons of cobalt this year.

The company is looking to increase its copper production to 150,000 tons a year by 2028 from around 30,000 tons in 2023.

The tariff rate on natural graphite and permanent magnets will increase from zero to 25% in 2026.

Australian-based Atlantic Lithium has taken a step toward raising capital from equity investors in the country.

The parks will produce mixed hydroxide precipitate and nickel and cobalt sulphate, used in the making of EV batteries.

The project, called Electro Mobility Materials Europe (EMME), aims to cover 20-30% of France's nickel and cobalt needs for electric vehicles by 2030.