Materials technology group Umicore has completed the acquisition of the cobalt refining and cathode precursor activities in Kokkola, Finland, from Freeport Cobalt for $203-million on a debt and cash-free basis.
Freeport Cobalt is a joint venture (JV) between mining companies Freeport-McMoran and Lundin Mining, which is entitled to receive 30% of proceeds of the transaction.