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Glencore ceases cobalt sales from DRC mine, triggers cobalt price surgehttps://smallcaps.com.au/glencore-ceases-cobalt-sales-drc-mine-triggers-price-surge/ExtractNews that Glencore has temporarily suspended sales from its Kamoto cobalt project in the Democratic Republic of Congo has triggered a sudden price surge for cobalt, with the mineral’s value soaring more than 12% within three days.Earlier this week, Glencore’s 86%-owned subsidiary Katanga Mining reported sales and exports had halted at the mine as a result of the discovery of uranium.According to Katanga, uranium levels had been found to exceed the “acceptable limit allowed” for its cobalt to be exported through Africa’s primary ports.To-date, Katanga revealed the presence of uranium had prevented 1,472 tonnes of cobalt from being exported.The news rocked the global cobalt market and pushed the commodity’s price from under US$45 per tonne to US$52/t within days.
Glencore ceases cobalt sales from DRC mine, triggers cobalt price surge
https://smallcaps.com.au/glencore-ceases-cobalt-sales-drc-mine-triggers-price-surge/
Extract
News that Glencore has temporarily suspended sales from its Kamoto cobalt project in the Democratic Republic of Congo has triggered a sudden price surge for cobalt, with the mineral’s value soaring more than 12% within three days.
Earlier this week, Glencore’s 86%-owned subsidiary Katanga Mining reported sales and exports had halted at the mine as a result of the discovery of uranium.
According to Katanga, uranium levels had been found to exceed the “acceptable limit allowed” for its cobalt to be exported through Africa’s primary ports.
To-date, Katanga revealed the presence of uranium had prevented 1,472 tonnes of cobalt from being exported.
The news rocked the global cobalt market and pushed the commodity’s price from under US$45 per tonne to US$52/t within days.
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