The company suspended operations at its Oktyabrsky and Taimyrsky mines in Siberia after it detected subterranean water flowing into the facilities.

Company output fell by 22% to 30 million carats as it suspended mining at less profitable mines amid the pandemic.

But increasing advances in cobalt-free and low-cobalt content batteries will pose a large threat to long-term demand and prices, Fitch says.

Chief Operating Officer Sergey Dyachenko is leaving the company as part of a management restructuring.

Freeport to expand US copper mines as Biden moves to electrify the nation; Minnesota court hands victory to PolyMet copper-nickel project; Sibanye-Stillwater to invest in European lithium company.

Brokers say data the London Metal Exchange is using to support its proposal to shut its trading floor exaggerates the use of electronic platforms during coronavirus lockdowns.