Glencore says to re-start Congo’s Mutanda mine towards end of 2021

PUBLISHED: Tue, 22 Jun 2021 10:23:20 GMT
Hereward Holland
Reuters
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FILE: A Caterpillar Inc. mining truck drives past an open pit excavation at the Mutanda copper and cobalt mine in Mutanda, Katanga province, Democratic Republic of Congo, on Wednesday, Aug. 1, 2012. Glencore Plc tumbled the most in two years as its African troubles escalated dramatically after U.S. authorities demanded documents relating to possible corruption and money laundering. The worlds biggest commodity trader said Tuesday that its been subpoenaed by the U.S. Department of Justice to produce documents with respect to compliance with the Foreign Corrupt Practices Act and United States money laundering statutes. Our editors select archive images from Glencores Katanga Mining Ltd. and Mutanda operations in the Democratic Republic of Congo. Photographer: Simon Dawson/Bloomberg via Getty Images

KINSHASA, June 22 (Reuters) – Commodity trader and miner Glencore said on Tuesday it will restart operations at the world’s largest cobalt mine, Mutanda in south-east Democratic Republic of Congo, towards the end of this year and return to production in 2022.

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Glencore put the mine, which is also capable of producing large amounts of copper, on care and maintenance in November 2019 citing falling cobalt prices, increased costs, and higher taxes.

On Monday company officials discussed the re-opening of the mine with Congo’s mining minister Antoinette N’Samba in Kinshasa, the ministry said in a statement.

Mutanda produced 103,200 tonnes of copper and 25,100 tonnes of cobalt hydroxide in 2019 compared with 199,000 tonnes and 27,300 tonnes respectively in 2018. It has five copper production lines and three cobalt hydroxide lines.