Katanga Mining Ltd Ord KATFF

Glencore to Cut Production at Major Copper, Cobalt Mine

[Sogosohubidu201]

https://www.wsj.com/articles/glencore-to-cut-production-at-major-copper-cobalt-mine-11550585206

Glencore plans to curb production at one of its biggest copper and cobalt mining operations, Mutanda Mining Sarl in Congo, according to people familiar with the matter, potentially taking a sizable portion of two important industrial metals out of circulation.

Glencore’s copper operations in Africa produced 410,000 metric tons of copper in 2018, up 72% from 2017, and 38,000 tons of cobalt, a 61% increase. Mutanda, its most productive Congo mine, produced 199,000 tons of copper and 27,000 tons of cobalt last year. That is about one-fifth of global cobalt production, making it the world’s most prolific producer of cobalt. The metal is a key ingredient in the lithium-ion batteries that power electric vehicles and smartphones.