H2 Cobalt Hydroxide Shipments from Tenke Will be Lower, Says Freeport

MetalBulletin reported that Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX) has informed its customers that as a result of electricity supply issues, deliveries of cobalt hydroxide from Tenke Fungurume Mining (TFM), located in the Democratic Republic of the Congo (DRC), will decrease in the second half of 2013.

As quoted in the market news:

USA-based Freeport McMoRan, which holds a majority stake in the DRC operation, sent a formal notice to its customers this week, citing issues with the DRC electricity supply. TFM advised customers that the quantity of product to be delivered will be reduced for the remainder of the contracted term.

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