Glencore cuts production guidance for cobalt from Katanga mine

UK-listed miner and commodities trader Glencore has revised downward by 8,000 tonnes its forecast for cobalt production in 2019 from its Katanga mine in the Democratic Republic of Congo (DRC), following a suspension of exports.

Cobalt production from the mine next year will be 26,000 tonnes, according to guidance released on Monday December 3. The company has lowered its guidance “to reflect [the] cobalt plant ramp-up and associated expected shorter-term recoveries,” it said in an investor update. Exports from Katanga have been temporarily suspended following the appearance of uranium in the cobalt...

Published

Jon Stibbs

December 03, 2018

19:55 GMT

London