long term investment my ****4 Aug 2024 12:47
China’s CMOC Group Ltd. has strengthened its status as the world’s cobalt king, churning out more than three times as much as better-known rival Glencore Plc after a stunning output surge that’s deepened the battery metal’s price rout.
The Chinese mining giant leapfrogged Glencore only last year to become the top producer, but the pair’s first-half output figures exposed a growing chasm between the two. Glencore’s production slumped 27% to 15,900 tons, while CMOC’s more than doubled to 54,024 tons — not far shy of its guidance for the entire year.