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Glencore suspends Katanga cobalt sales
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On 6 November 2018, Glencore subsidiary Katanga Mining announced that it would temporarily suspend the export and sales of cobalt from its Kamoto project in the Democratic Republic of Congo (DRC) until further notice. The importance of Katanga to the cobalt story cannot be overstated. Just as the company’s guidance issued late last year quickly cast a cloud of oversupply over the medium term, so has this latest news suddenly created the threat of near-term tightness.
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