Eurasian Natural Resources Won’t Continue Producing Cobalt Oxide Concentrates

Metal Bulletin reported that privately owned Eurasian Natural Resources Corporation plc will stop producing cobalt oxide concentrates at its Boss Mining SPRL operation in the Democratic Republic of the Congo in 2015.

As quoted in the market news:

The company will not expand its DRC mine when oxide concentrate resources are depleted next year, owing to low market prices, according to sources familiar with the situation. Low-grade cobalt metal prices, on which concentrate sales are typically based, have dropped from close to $20 per lb in 2010 to the low teens in 2014.

Click here to read the full Metal Bulletin report.