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DRC Bans Exports of Copper and Cobalt Concentrates1 Wednesday April 17, 2013, 10:15am PDT By Vivien Diniz2 - Exclusive to Cobalt Investing News3 -------------------------------------------------------------------------------- Share on email Email1 1111 -------------------------------------------------------------------------------- The Democratic Republic of Congo has banned exports of copper and cobalt4 concentrates, forcing mining companies to export value-added minerals. The order signed by Mining Minister Martin Kabwelulu on April 5 gives, companies 90 days to clear their stocks before the ban comes into force. “Little by little, within the next three months, we need to no longer export concentrates,” Kablwelulu told Reuters5. Last year, the Congo was the eighth largest6 copper producer, with copper production around 500,000 tonnes per year. The country was also the larges cobalt 7producer in 2012. Unaffected by the ban is the Congo’s largest copper producer, Freeport-McMoRan (NYSE:FCX8), which already processes its copper inside the country. As far as Freeport’s cobalt production is concerned, the company must prove that its cobalt hydroxide produced at the Tenke Fungurum project is a finished product in order to avoid the ban. This could potentially impact the company’s recently acquired Kokkola cobalt refinery in Finland. http://resourceinvestingnews.com/53803-drc-bans-exports-of-c… |
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| aus der Diskussion: | Durchbruch:: Tiger Resources steigt zum Kupferproduzenten auf! |
| Autor (Datum des Eintrages): | ooy (17.04.13 22:00:46) |
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