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Cyclone damage has halted production at Ambatovy, a cobalt and nickel producer in Madagascar, affecting operations and exports. The company, owned by Sumitomo Corp and Korea Mine Rehabilitation and Mineral Resources Corporation, produced about 28,000 metric tons of nickel and 2,500 tons of cobalt in 2024.

The main port, Toamasina, was severely impacted, leading to export disruptions. Ambatovy confirmed material damage to its processing plant and is evaluating the situation. Prices for cobalt are steady at approximately $26 per pound, with analysts predicting global supplies around 285,000 tons for this year, primarily sourced from the Democratic Republic of Congo.