Friday, December 12, 2008

Conflicting Reports on Metorex

From Reuters: Metorex starts Ruashi cobalt plant commissioning
South African miner Metorex said on Friday it has began the commissioning of its Ruashi cobalt plant, with the first sales of cobalt carbonate expected in February 2009.

Ruashi is one of Metorex' projects in the Democratic Republic of Congo (DRC).

"The plant will lock up approximately 200 tonnes of cobalt in the circuit between the start of commissioning and commencement of sales," it said in a statement.

"Cobalt production is expected to reach approximately 70 percent of design capacity by June 2009 and full design capacity by December 2009."

From Bloomberg: Metorex Chairman Quits, Panel Set Up to Review Mine
Metorex Ltd., the copper producer that’s been struggling to fund rising costs at a mine in the Democratic Republic of Congo, said Chairman Simon Malone quit and the company formed a panel to “monitor and review” the project.

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