The deal would value the Belgian company, founded in 2020, at $275 million.

Created by government decree in December 2019, EGC was granted a monopoly on artisanal cobalt produced in the country.

Powered by Tesla’s own made-in-Texas batteries, the stainless steel Cybertruck carries a heavy load of nickel, cobalt, manganese, graphite and lithium.

CMOC last year became the world's No. 1 cobalt mining company with production of some 55,000 tons.

The company is talking to a range of financing partners to raise money for a restart of its Konkola Copper Mines unit.

Zambia is Africa's second-largest copper producer.

Decision paves the way for the Canadian miner to complete the acquisition of OreCorp and its flagship Nyanzaga gold project in Tanzania.

The world’s largest diamond miner by volume has inked agreements with Angola to boost diamond production and exploration.