Chinese state-owned miner MMG has mothballed production at its cobalt processing plant in the Democratic Republic of Congo just 15 months after starting the operation.
What Happened: According to Bloomberg, the Chinese miner cited “unfavorable cobalt market conditions” as the primary reason for halting its facility.
MMG invested up to $600 million in expanding its copper output and launching cobalt production at the site, which is in the Haut-Katanga province in southern DRC. Despite commissioning the plant in September 2023, the facility was placed on care and maintenance at the end of 2024.
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MMG is majority-owned by China Minmetals Corp.
Meanwhile, the miner reported a full-year 2024 production of just 1,600 tons of cobalt. That’s a fraction of its capacity. The company …
