Despite receiving a subpoena over possible corruption from the US Department of Justice, Glencore, the world’s largest mining company, announced a surge in profit in its half-year report, with a 13 percent increase in net income over last year.
The Swiss firm attributed the growth to a “favorable trading and commodity price environment.”
Glencore mines the metal in Congo, at the Katanga mine, producing an estimated 34,000 tons a year.
But if cobalt prospects are rosy, Glencore’s dealings worldwide continue to raise questions. The US Justice Department subpoena demanded the firm produce documents about its operations in Nigeria and Venezuela, as well as Democratic Republic of