I read this article today (cut and pasted below from Resource Investing News). I assume that given the electro winning plant won't be constructed and producing until mid 2014 this will have material impact on TGS - or am I missing something. Given that this was signed off on the 5th April should this not have been announced by TGS via an ASX announcement or am I off-base?
[NB: D & D can't catch a break lately in their recommendations]
Cheers
John
DRC Bans Exports of Copper and Cobalt Concentrates
Wednesday April 17, 2013, 10:15am PDT
By Vivien Diniz - Exclusive to Cobalt Investing News
The Democratic Republic of Congo has banned exports of copper and cobalt concentrates, forcing mining companies to export value-added minerals.
The order signed by Mining Minister Martin Kabwelulu on April 5 gives, companies 90 days to clear their stocks before the ban comes into force. “Little by little, within the next three months, we need to no longer export concentrates,” Kablwelulu told Reuters.
Last year, the Congo was the eighth largest copper producer, with copper production around 500,000 tonnes per year. The country was also the larges cobalt producer in 2012.
Unaffected by the ban is the Congo’s largest copper producer, Freeport-McMoRan (NYSE:FCX), which already processes its copper inside the country. As far as Freeport’s cobalt production is concerned, the company must prove that its cobalt hydroxide produced at the Tenke Fungurum project is a finished product in order to avoid the ban. This could potentially impact the company’s recently acquired Kokkola cobalt refinery in Finland.
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