Gold price nears two-month low on post-Trump win dollar boost
Gold has now declined more than 5% since last week’s election.
The Chairman of the House Africa subcommittee, Representative John James of Michigan, introduced a bill requiring the creation of a US national strategy to secure supply chains of critical minerals from Democratic Republic of Congo.
The DRC produces about 70% of the world’s cobalt, an ingredient in electric vehicle batteries, and also has major deposits of copper, lithium, tantalum and germanium.
The dominance of Chinese companies in the extraction, processing and refining of these minerals “represents an economic and national security threat” that impacts energy independence and military preparedness, according to the draft bill.
Read More: China set to boost state cobalt reserves after tumble in prices
The bill is co-sponsored by Jim Baird of Indiana, Young Kim of California, Thomas Kean Jr. of New Jersey and Cory Mills of Florida, all Republicans, like James.
(By Michael J. Kavanagh)
Read More: Concentration of critical minerals’ supply intensifies despite diversification efforts
4 Comments
Gilbert Castro Kapuka
Please America with my tears, help Congo, it’s highly being looted by Chinese people. Children are dying of malnutrition when a country is full of mineral wealth, i see these things my self ,i drive a truck to and from Congo. It makes me cry, ooh no i see children starving here in Katanga, Leaders hav no word for them as long as they hav collected their shares from Chinese. Amerca please intervene, this is highly critical or help me build an orphanage or vulnerable facilities for the strained living children of Congo. I always end up giving out my food Lancheon to the children meant for use in the truck bcoz i totally fail to stand n see children starving. Am not a Congolese am a Zambian international driver by occupation who transports cargo to and from Congo. People ar living under serious hardships n very poor conditions, Children die of hunger malnutrition, please i see these things Jehovah God is my witness, i cry so many times especially that the country is full of mineral wealth, children starving, AMERICA PLEASE PLEASE through branches under UN etc please help CONGO, Chinese cant even build schools nor clinics to benefit the near by community, bt when America invests in an African country atleast a change is noticed by communities around, this is real truth. AMERICA PLEASE INTERVENE.
Mulenga Tembe
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Chuks
Why are China and USA disturbing Congo whose country is in Africa, is that not a flouting of essence law? After the killings of Belgunian (colonial masters) they still suffer in the hands of foreign powers outside Africa continent.
Klemens Nikola
No country on this mother earth has genuine interests of the other at heart… Africa was forcefully partitioned and shared out by the Europeans without the slightest consideration of the Africans…if those minerals were to be given out for free the foreigners will take without care of the native population..it’s upon Africa to stand up for Africans…