Idling of world’s largest cobalt mine in DRC could generate stimulus for a price rebound: sources

摘要

London—The idling of the world’s largest cobalt mine could be exactly the stimulus the metal needs to stage a comeback from recent lows, according to analysts and market participants. Global diversified natural resources company Glencore said Wednesday that it will close the Mutanda copper/cobalt mine in the Democratic Republic of Congo at the end of this year, on the back of dire market conditions and a low outright metal price, taking 20% of the global cobalt supply out of the market.