Katanga Mining Ltd. (TSX:KAT) produced just 523 tonnes of cobalt metal, a 25-percent decrease from the year-ago quarter, and achieved a realized cobalt price of $11.84 per pound, down 13 percent from Q2 2013.
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Amana Copper Ltd. (CSE:AMA) announced that it has signed an agreement to acquire a 70-percent interest in the producing Baya cobalt-copper project. It is located in the Democratic Republic of the Congo’s Katanga province.
Here’s a look at 2012′s top 10 cobalt-producing countries, based on figures from the US Geological Survey.
Cobalt prices have been rising since the end of August and hit an eight-week high on September 13.
Earlier this month, the Democratic Republic of the Congo announced the delay of a ban on copper and cobalt concentrate exports. Since then, cobalt prices have seen some declines.
The Democratic Republic of the Congo is delaying its ban on copper and cobalt concentrate exports until next year. In the meantime, cobalt concentrate exports will be taxed $100 per metric ton.
The Cobalt Development Institute held its annual cobalt conference in Shanghai at the end of May. Here’s a look at the key takeaways from the event.
Global Cobalt, with its highly qualified management team, has the exploration, development and production expertise to enable timely, skilled development of its impressive asset portfolio, according to Rick Mills.
Martin Kabwelulu, the DRC’s minister of mines, is confident that the country’s ban on the export of cobalt and copper concentrates will go into “full effect” in the summer, but previous attempts at instating similar bans have failed.
What investors need to know about new mining rules in top cobalt producer Democratic Republic of the Congo.