"Copper, cobalt supplies from Congo stranded by truckers' strike" 7 November 2023

Copper and cobalt produced by companies, including Glencore and CMOC, are stranded in Kolwezi, Democratic Republic of Congo (DRC), due to a truckers strike that started in late October, four sources with direct knowledge of the matter said.

Already 2,700 trucks carrying around 89,000 metric tons of copper are stuck in Kolwezi, two of the sources said...

Truck drivers, who move minerals from Kolwezi to Zambia then to coastal ports for transporting by vessel to consuming countries, such as China, have demanded logistics firms pay an extra risk allowance of $700 per journey, the sources said. The danger allowance is payment for the risks associated with the trucks being robbed of high value copper and cobalt materials...

"The truck drivers want an incentive for them to operate in Congo, they want a danger allowance on top of their current salary," Hippy Tjivikua, chief executive, at Walvis Bay Corridor Group said.

"It's affecting most of the supply routes. I can't say cargo is completely blocked, but most of the mines aren’t able to go and offload or pick up the loads."

The strike has stopped material produced by major suppliers, including Ivanhoe Mines' (IVN.TO) giant mine Kamoa Kakula, CMOC's (603993.SS) Tenke Fungurume, Glencore's (GLEN.L) Kamoto and Sicomines' Mashamba West from leaving Congo.

Ivanhoe Mines responds on Friday that its operations at the Kamoa-Kakula Copper Complex have continued as normal, and as of November 9, major shipments took place from the mine gate, with further shipments taking place today and onwards. Ivanhoe Mines' management is working proactively with the DRC government and local authorities to mitigate any potential interim effects on outbound shipping, but does not anticipate any material impact on Kamoa-Kakula's operations...

Glencore declined to comment. CMOC and Sicomines did not respond to requests for comment.