A process for preparing a cobalt based catalyst precursor includes, in a support
impregnation stage, impregnating a coated catalyst support comprising porous catalyst
support particles coated with carbon, with a cobalt salt, and partially drying
the impregnated support. Thereafter, in a calcination stage, the partially dried
impregnated support is calcined, to obtain the cobalt based catalyst precursor.
The cobalt based catalyst precursor can then, in a reduction stage, be reduced
to obtain a cobalt based Fischer-Tropsch catalyst.