Glencore Cobalt Supplies in Congo Face Hold Up Over Mine Row
- Joint venture blocked from accessing tailings site since March
- Mine provides as much as 4 percent of global cobalt supply
This article is for subscribers only.
A dispute between state-owned Gecamines and its joint-venture partner at a Congolese cobalt mine that sells to Glencore Plc threatens to halt the supply of as much as 4 percent of the metal within two months.
Jersey-registered GTL, a joint venture between Gecamines and closely held Groupe Forrest International, has processed the hill of mine waste that looms over the southern Congolese mining town of Lubumbashi since 2001, producing as much as 5,000 metric tons of cobalt a year. The state-owned miner has blocked GTL’s access to the site since March 23, according to Groupe Forrest Chief Executive Officer Malta Forrest.