La Compagnie Miniere De Camdove starts cobalt hydroxide trial production
2020-07-24 08:26:30 [Print]
BEIJING (Asian Metal) 24 Jul 20 - La Compagnie Miniere De Camdove SAS, a cobalt concentrate 8%min producer in Congo, started trial production of cobalt hydroxide 40%min in early July 2020 and plans to get the first batch product of around 10t in early September 2020.
"We started the construction of the cobalt hydroxide 40%min plant early last year and finished it in this H1. We started trial production of early this month and would get around 10t of the material around one and a half months later," said a source from the company, who added that they plan to start the official production in early Q4 of this year and the designed production capacity of the cobalt hydroxide 40%min plant reaches 3,000t.
With an annual production capacity of 60,000t, La Compagnie Miniere De Camdove SAS started producing cobalt concentrate 8%min in 2016. The company produced about 55,000t of cobalt concentrate 8%min in 2019. Its cobalt concentrate 8%min output in so far this year reached about 30,000t in spite of the spread of COVID-19 since late March 2020. The company plans to sell their cobalt hydroxide 40%min mainly to Chinese buyers.
Dragged by the weak demand and abundant supply, cobalt hydroxide 40%min mainstream prices in Congo slide to USD13.0-13.5/lb FOB Congo at present, down by around USD0.2/lb from one week ago. Suppliers prefer to watch the market rather than lower prices further as a result of their low profit. Consequently, insiders forecast that cobalt hydroxide 40%min prices in Congo would hover at current levels in the coming week.
"We started the construction of the cobalt hydroxide 40%min plant early last year and finished it in this H1. We started trial production of early this month and would get around 10t of the material around one and a half months later," said a source from the company, who added that they plan to start the official production in early Q4 of this year and the designed production capacity of the cobalt hydroxide 40%min plant reaches 3,000t.
With an annual production capacity of 60,000t, La Compagnie Miniere De Camdove SAS started producing cobalt concentrate 8%min in 2016. The company produced about 55,000t of cobalt concentrate 8%min in 2019. Its cobalt concentrate 8%min output in so far this year reached about 30,000t in spite of the spread of COVID-19 since late March 2020. The company plans to sell their cobalt hydroxide 40%min mainly to Chinese buyers.
Dragged by the weak demand and abundant supply, cobalt hydroxide 40%min mainstream prices in Congo slide to USD13.0-13.5/lb FOB Congo at present, down by around USD0.2/lb from one week ago. Suppliers prefer to watch the market rather than lower prices further as a result of their low profit. Consequently, insiders forecast that cobalt hydroxide 40%min prices in Congo would hover at current levels in the coming week.
LNCMO 523 Delivered China
Unit:RMB/kg
China cobalt carbonate producers' operating rate statistics by province by month
Unit: %
