Central African Mining and Exploration Co PLC has recommenced cobalt operations at Mukondo Mountain in the Katanga Province of the Democratic Republic of Congo due to the recent strengthening of demand in the market.
In order to preserve cash, CAMEC suspended operations at Mukondo Mountain in November 2008, as the global economic downturn resulted in the collapse of the cobalt price.
However, with a significant number of cobalt producers having suspended operations, inventories drawn down and demand beginning to show signs of recovery, the company feels it is appropriate to recommence operations, it said in a statement.
Source: Proactive Investors
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