With funds raised through an initial public offering (IPO) in March, Hanrui Cobalt is investing in a cobalt metal refinery in the Democratic Republic of Congo (DRC), with the first phase with a capacity of 2,000 tpy expected to be completed by the end of 2018. A total capacity of 5,000 tpy is planned for December 2019, according to Hanrui Cobalt’s prospectus, released early this year.
After the completion of the cobalt metal project in the DRC, Nanjing Hanrui will ship cobalt metal, instead of cobalt intermediates, directly to China to produce cobalt powders, according to Liang.
Liang Jiankun, president of Hanrui Cobalt
Hanrui Cobalt aims to ramp up cobalt powder capacity to 3,000 tpy by December 2018.
“We will sell...