Kumba full year profit to double

Higher grades and throughput after the end of the regional wet season helped gold production increase to 363,000 oz.

Inflation adjusted cobalt prices are the lowest in 100 years after a deluge of new supply. Stagnating demand from EVs only adds to the bear case. 

The ramp-up activities are being funded by the initial $100 million deposit from Fujairah Holdings.

The new railway will link the port of Dar es Salaam to a nickel mine in neighboring Burundi.