China’s biggest cobalt refiner Zhejiang Huayou Cobalt said on Thursday its overseas unit is pulling out of a deal to invest $66.3-million in a cobalt mine in the Democratic Republic of Congo (DRC) after prices of the metal slid. Huayou International Mining had agreed to take a 51% stake in Lucky Resources Holdings, whose wholly owned subsidiary New Minerals Investment holds the DRC’s 13235 mining licence, in December 2017.
