Platts reported that on Wednesday, Panos Kotseras, a senior consultant at CRU, told the Cobalt Development Institute conference that his firm expects cobalt prices to recover in 2015.
Cobalt Market News Directory
Reuters reported that the Democratic Republic of the Congo's ban on exports of unprocessed copper and cobalt concentrate will be "fully enforced" by July or August. At that time, the 90-day period during which companies were expected to clear their inventories will be over.
MetalBulletin reported that if prices for cobalt metal remain under $13 per pound, Chinese buyers will likely switch to metal from concentrate.
MetalBulletin reported that both low- and high-grade cobalt prices are steady as market players wait for direction from the Cobalt Development Institute conference scheduled for next week. Prices for low-grade cobalt sit between $12.50 and $14 per pound, while high-grade prices are between $12.90 and $14.10 per pound.
Mining Weekly reported that the price of high-grade cobalt has been on the rise since the beginning of the year and is now sitting at $13.50 per pound. The price is being pushed up by low cobalt supplies and uncertainty about the availability of concentrate from the Democratic Republic of the Congo.
Bloomberg reported that cobalt producers are urging the DRC government to lift a ban on cobalt exports. According the cobalt producers, there is not the proper infrastructure in place, including electricity to support this initiative
Bloomberg reported that Eurasian Natural Resources Corp's Machkevich may be interested in joining forces with two other shareholders and the Kazakh government to make a bid for the company.
Bloomberg reported that the government of the DRC has banned cobalt exports in an effort to force mining companies to add value to their shipments.
Reuters reported that an anti-corruption campaign is accusing tax authorities in the DRC of failing to account for $88 million in taxes from the mining sector.
Bloomberg reported that Guatemala has granted permission for two new mining liscences.