Glencore's cobalt production rose 11 per cent year-on-year

Recently, glencore released the first quarter of 2018 production report. The following core data are integrated:

In the first quarter of 2018, glencore produced 7,000 tonnes of cobalt from its own cobalt resources, up 11 per cent year-on-year. African copper and cobalt projects produced 6. 7 percent in the first quarter. 1,000 tons, up 7 percent year-on-year, with an increase of 500 tons mainly coming from Katanga, which is scheduled to deliver its first batch of cobalt products in March 2018.

The cobalt output under the nickel business was 0. 2 thousand tons, up 100% year by year. If third-party supply is included, the project's cobalt output is 1 thousand tons, up 25% year on year. The MurrinMurrin project produced zero cobalt metal. 7 thousand tons, up 40% year on year, mainly due to the lack of smelter maintenance production in the same period last year.

In the output disclosure report, glencore said that Gecamines, Katanga's state-owned joint-venture partner in Congo, had started legal proceedings against KCC in Congo and that Katanga believed there were options to compensate KCC for its lack of capital.

In addition, as a result of the licensing fee dispute, DanGertler's affiliates issued freeze orders to Mutanda and KCC, and glencore is evaluating the impact of these freeze orders, which may have a significant negative impact on the operation of Mutanda and KCC, including production. The production guidance for 2018 issued at the end of 2017 is based on the premise that the mine is in production and operation.

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