Inside every smartphone, laptop, and electric vehicle is cobalt, a mineral essential for lithium-ion batteries. About 70 per cent of the world’s cobalt comes from a single country, the Democratic Republic of Congo, making it the backbone of the global tech industry. In 2023, the DRC produced nearly three-quarters of the world’s cobalt supply.
The country is also rich in coltan, another essential mineral mined for similar technology, mostly rechargeable batteries. Other crucial minerals include gold, tin, uranium, bismuth, and beryllium – resources that have historically attracted foreign powers and corporations looking to cash in. However, instead of bringing prosperity, these riches have fuelled endless cycles of conflict and exploitation for the Congolese people.
In just the past week, more than 733 people have lost their lives in escalating violence in the DRC. This latest surge in fighting is fuelled by the long struggle over the country's vast mineral wealth and strategic mines. Despite being one of the richest nations on Earth in terms of natural resources, the DRC's people remain among the poorest.
At the heart of the global cobalt trade is China’s CMOC Group, which set a record in annual cobalt production last year. The company announced on Monday that it had produced 114,165 tonnes in 2024 – more than double the 55,526 tonnes recorded in 2023. The figure also exceeded its 2024 estimate, which had initially been capped at 70,000 tonnes. This rapid surge in production has been driven by the expansion of CMOC's African mining operations, much of which remain in the DRC, highlighting the region's dominance in the cobalt market.
But it's not just China; numerous multinational corporations operate directly or indirectly in the DRC via third-party contractors. Many of them have been accused of child labour. About 40,000 children work in dangerous artisanal mines across the country, extracting gold, cobalt, and coltan in hazardous conditions. Many of them suffer from injuries, exposure to toxic chemicals and even death.
While mining operations continue to expand, many in the DRC say the recent violence is being led by the Rwandan-backed M23 rebel group, which wants to cash in on mining profits. The M23 group has taken control of Goma, the capital of North Kivu province, for the first time since 2012. They’re moving south towards Bukavu, another key city in a region with valuable resources and key mines.
Race card
1.30pm: Handicap (PA) Dh 50,000 (Dirt) 1,400m
2pm: Handicap (TB) Dh 84,000 (D) 1,400m
2.30pm: Maiden (TB) Dh 60,000 (D) 1,200m
3pm: Conditions (TB) Dh 100,000 (D) 1.950m
3.30pm: Handicap (TB) Dh 76,000 (D) 1,800m
4pm: Maiden (TB) Dh 60,000 (D) 1,600m
4.30pm: Handicap (TB) Dh 68,000 (D) 1,000m
THREE
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The specs
Engine: 4.0-litre V8 twin-turbocharged and three electric motors
Power: Combined output 920hp
Torque: 730Nm at 4,000-7,000rpm
Transmission: 8-speed dual-clutch automatic
Fuel consumption: 11.2L/100km
On sale: Now, deliveries expected later in 2025
Price: expected to start at Dh1,432,000
The Bio
Name: Lynn Davison
Profession: History teacher at Al Yasmina Academy, Abu Dhabi
Children: She has one son, Casey, 28
Hometown: Pontefract, West Yorkshire in the UK
Favourite book: The Alchemist by Paulo Coelho
Favourite Author: CJ Sansom
Favourite holiday destination: Bali
Favourite food: A Sunday roast
Our legal consultant
Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Libya's Gold
UN Panel of Experts found regime secretly sold a fifth of the country's gold reserves.
The panel’s 2017 report followed a trail to West Africa where large sums of cash and gold were hidden by Abdullah Al Senussi, Qaddafi’s former intelligence chief, in 2011.
Cases filled with cash that was said to amount to $560m in 100 dollar notes, that was kept by a group of Libyans in Ouagadougou, Burkina Faso.
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Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
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Rating: 3/5
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Red flags
- Promises of high, fixed or 'guaranteed' returns.
- Unregulated structured products or complex investments often used to bypass traditional safeguards.
- Lack of clear information, vague language, no access to audited financials.
- Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
- Hard-selling tactics - creating urgency, offering 'exclusive' deals.
Courtesy: Carol Glynn, founder of Conscious Finance Coaching
How does ToTok work?
The calling app is available to download on Google Play and Apple App Store
To successfully install ToTok, users are asked to enter their phone number and then create a nickname.
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