Nigeria resumes mining in Zamfara state on improved security
Nigeria has lifted a ban on mining exploration in the northwestern state after a five-year suspension.
Katanga Mining Ltd, a unit of Glencore Plc, said on Monday it resumed exporting and selling a limited quantity of cobalt from its Kamoto Project in the Democratic Republic of Congo (DRC).
The company said in November it had temporarily suspended the export and sale of cobalt from the project after uranium was found in levels above the acceptable limit for export.
Katanga said on Monday it produced about 930 tonnes of contained cobalt since January through interim operational solutions.
The company also said it will focus on processing an ion exchange plant, which will help remove the excess level of uranium.
In November, Katanga had said it expects the plant to be completed by the end of the second quarter.
Analysts have said that they did not expect any material hit to Glencore from the temporary halt in exports.
Glencore’s shares were down 0.5 percent in afternoon trading on the London Stock Exchange.
(By Arathy S Nair; Editing by Bernard Orr and Sriraj Kalluvila)
