Katanga Mining Ltd Ord KATFF

RE:Mining Weekly - ... ion exchange plant in 2020

[Sogosohubidu201]

Cobalt project, acid plant and Ion Exchange System are all delayed to the 1st half of 2020, up to 6 months of delay.  97% cobalt produced in Q2 met the specs and can be sold and exported, which is the only positive of the production report. The function of Ion Exchnage System is reduced.  Mechnical breaking down of brand new cobalt dryer, and this will takes several months to repair, almost feel like that Glencore and DRC want to control the cobalt market. The projected cobalt volume in 2019 had been reduced twice already, from 32K to 26K, and now reduced further, and the only good part is that it will reduce the cobalt supplus and get to balance market sooner. I can wait.