December 3, 2018 / 4:45 PM / 5 months ago

BUZZ-Katanga Mining Ltd: Up on cut in 2019 cobalt output forecast

** Cobalt and copper producer’s shares up 12 pct at C$0.56

** Parent Glencore Plc says Katanga to cut 2019 cobalt production by 8,000 tonnes to help pricing

** Cobalt sulphate prices have slipped in recent months, removal of supply from Katanga should help tighten the market and close the discount with cobalt metal prices - TD Securities

** “Good progress is being made on the construction of the cobalt debottlenecking project” - Katanga CEO Johnny Blizzard

** Despite session gains, stock has fallen ~70 pct YTD (Reporting by Shanti S Nair in Bengaluru)

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