SAPS seize stolen cobalt hydroxide worth R6.5 million from a warehouse in Durban
Police seized cobalt hydroxide to the value of R6.5 million from a warehouse in Jacobs, Durban, on Friday morning.
The cobalt hydroxide was allegedly stolen from Gauteng in early January.
Cobalt hydroxide, according to police, is a powdery green substance that is used as a drying agent for paints, varnishes, inks and is also used a catalyst in the manufacture of battery electrodes.
Police spokesperson, Lieutenant-Colonel Nqobile Gwala, said at around 9 am, officers from the Provincial Investigation Unit, assisted by the Ethekwini District Task Team and a private security company, proceeded to a warehouse in Quality Street.
“Police pounced on the premises to execute a search warrant and found 48 bags of cobalt hydroxide that were hidden.”
The bags were allegedly stolen from a warehouse on Prelude Avenue in Crown City, Joburg, on January 6 and transported to Durban on January 31. Gwala said each bag weighed 736kg.
She said police the product was destined to be shipped overseas on Saturday.
“The recovered bags, which are valued at R6.5m (in total), was positively identified by the lawful owner.”
She said police were still searching for the suspects.
-IOL
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