Financial Times FT.com

Camec to halt Congo mining operations

By William MacNamara

Published: November 20 2008 01:58 | Last updated: November 20 2008 01:58

Camec will suspend cobalt and copper mining in the Democratic Republic of Congo, where it runs reputedly the world’s biggest cobalt mine, until demand recovers.

The company is the latest miner to cite crashing commodity prices and a slowdown in China as reasons to halt certain mining operations. In an indication of these trends’ growing severity, however, Camec’s decision amounts to a suspension of its core business.

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