BHP Billiton sells cobalt at $13,20/lbPublished on 4th December...

BHP Billiton sells cobalt at $13,20/lb

Published on 4th December 2008

TORONTO (miningweekly.com) – Mining giant BHP Billiton sold 10-million tons of cobalt for December delivery at $13,20/lb, the company reported on Thursday.

The last reported sale, in September, was for 5-million tons at $36,50/lb, according to the group's cobalt sales website.

Like other metals, prices for cobalt have slumped dramatically over the last couple of months, prompting companies including Katanga Mining and Geovic Mining to halt production or delay new mines.