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Commodities

Chinese cobalt producer to double Congo output with eye on top spot

China Molybdenum to invest $2.5bn for sought-after battery material

China Molybdenum produces cobalt at this facility in the Democratic Republic of the Congo. (Photo courtesy of China Molybdenum)

DALIAN, China -- China Molybdenum, the world's second-leading producer of cobalt, plans to roughly double its output to meet growing demand for the key battery material, with an eye on outstripping industry leader Swiss rival Glencore.

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