cobalt, page-94

That old chestnut....DRC copper mines and nickel oxide mines expanded at the same time probably explains most of the damage. In general repricing a byproduct or metal equivalent lower can have two nasty results, it cuts the resource at same cut off revenue assumption and increases opex, can work both ways but i hope a few more have now figured out which end of the cobalt stick want to be copper cobalt or nickel cobalt producers are sitting on.