Caledonia Mining (CAL-T, CMCL-L) has teamed up with an undisclosed Chinese refiner, signing an offtake agreement for cobalt from its Nama project, in northern Zambia. Caledonia will supply at least 21,000 tonnes of cobalt metal equivalent in the form of cobalt hydroxide over the next six years. Under the agreement, the price will be based on the published monthly average for 99.3 percent cobalt from the London Metal Exchange.
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