Umicore acquires Europe’s largest cobalt refinery



The acquired cobalt refinery in Kokkola, Finland is the largest outside of China, where most of the world's cobalt is processed

INTERNATIONAL mining company Freeport-McMoran has agreed to sell Europe’s largest cobalt refinery to Umicore, a global materials and recycling company.

The state-of-the-art cobalt refinery, located in Kokkola, Finland, is the largest cobalt refinery outside of China, where almost all of the world’s cobalt is processed.

For US$150m, plus the value of the working capital at the time of close, Umicore will acquire the 15,000 t/y refinery in addition to its related cobalt cathode precursor business. The precursor business represents 60% of the refinery’s historical revenues.

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