Umicore Considers Raising Cobalt Output At Olen

Umicore said it is considering increasing output of cobalt at its Belgian Olen refinery amid higher prices for the metal.

"It's an option," a spokesman for Umicore said, adding that a decision had yet to be taken by the major Belgian metals and specialty materials group.

Cobalt is used for such products as rechargeable battery materials.

Umicore has been moving away from its mining roots and traditional zinc and copper business to recycling precious and advanced materials.