10:00 | 05.01.2018
CRU: Katanga will Bring Cobalt Market into Surplus
LONDON, January 5, 2018 /PRNewswire/ — Glencore published an investor update last week, which included a large amount of information pertaining to the restart of the company’s Katanga operation in the DRC. This included an updated timeline, current upgrade procedures and new guidance production figures for copper and cobalt on the site – which suggests that cobalt production is likely to be much higher than initially expected. (Logo: http://mma.prnewswire.com/media/536199/CRU_Logo.jpg ) Before last week, the last news published on the Katanga upgrade was a technical document released on the March 31st 2017, which gave a total production capacity target of 30ktpa of saleable cobalt (contained in cobalt hydroxide). This target annual production capacity was forecasted to be reached by 2019, with the site having a total capacity of 15ktpa in 2018. However, Glencore’s recent investor update has revealed an upgrade in the company’s expectations for cobalt production at the site, with their production guidance figures for cobalt output at Katanga now at 11ktpa in 2018 and 34ktpa in 2019. This is a strong indication that Glencore’s ongoing upgrade work on Katanga’s cobalt recovery circuit – including the development of sulphur burning capacity, additional acid storage capacity and the refurbishment of power infrastructure – has progressed smoothly in 2017. Read the full story: http://bit.ly/Katanga-bring-cobalt-market-surplus Read more about CRU: http://bit.ly/About_CRU About CRU CRU offers unrivalled business intelligence on the global metals, mining and fertilizer industries through market analysis, price assessments, consultancy and events. Since our foundation by Robert Perlman in 1969, we have consistently invested in primary research and robust methodologies, and developed expert teams in key locations worldwide, including in hard-to-reach markets such as China. CRU employs over 260 experts and has more than 10 offices around the world, in Europe, the Americas, China, Asia and Australia – our office in Beijing opened in 2004. When facing critical business decisions, you can rely on our first-hand knowledge to give you a complete view of a commodity market. And you can engage with our experts directly, for the full picture and a personalised response. CRU – big enough to deliver a high quality service, small enough to care about all of our customers.
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