MMG Pauses Cobalt Production In Congo As Price Hits Historic Lows
MMG Cobalt Plant Closure: Chinese state-owned miner MMG has halted production at its cobalt processing plant in the Democratic Republic of Congo due to unfavorable market conditions, just 15 months after launching operations. The company reported a significant shortfall in cobalt production compared to its capacity.
Cobalt Market Dynamics: The DRC government has imposed a four-month export ban on cobalt to stabilize prices amid an oversupply situation, while demand remains under pressure as companies like Toshiba explore alternatives such as cobalt-free batteries.
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MMG Pauses Cobalt Production In Congo As Price Hits Historic Lows
MMG Cobalt Plant Closure: Chinese state-owned miner MMG has halted production at its cobalt processing plant in the Democratic Republic of Congo due to unfavorable market conditions, just 15 months after launching operations. The company reported a significant shortfall in cobalt production compared to its capacity.
Cobalt Market Dynamics: The DRC government has imposed a four-month export ban on cobalt to stabilize prices amid an oversupply situation, while demand remains under pressure as companies like Toshiba explore alternatives such as cobalt-free batteries.
