LONDON – Meetings last week between major cobalt producers including mining giant Glencore to supply the world’s largest automaker Volkswagen with the material used to make batteries for electric vehicles ended without a deal, cobalt industry sources said. In September, reported exclusively that VW was moving to secure long-term supplies of cobalt for the group’s ambitious electric vehicle plans. Earlier this month Volkswagen approved a 34 billion euro spending plan by the end of 2022…"Volkswagen’s talks with cobalt producers end without deal"
LONDON – Apple is leading the way in tracing cobalt used in its electronics to ensure the metal has not been mined by children in Democratic Republic of Congo while Microsoft is lagging, Amnesty International said. Microsoft disagreed with the pressure group’s conclusions published on Wednesday. Congo is by far the world’s biggest producer of cobalt, accounting for more than half of global supplies of the metal, a key ingredient in lithium-ion batteries. Amnesty, however,…"Apple leads way in tracing cobalt from Congo, Microsoft lags: Amnesty"
LONDON – Commodities trader and miner Glencore has swooped in to replace China’s Sinopec as the buyer of Chevron’s South African and Botswana assets after reaching a deal with local investors. The assets include a 100,000 barrel-per-day oil refinery in Cape Town, a lubricants plant in Durban as well as 820 petrol stations and other oil storage facilities. It also includes 220 convenience stores across South Africa and Botswana. In its statement on Friday, Glencore…"Glencore pips Sinopec to buy Chevron’s South African assets"
LONDON – Germany’s Volkswagen is moving to secure long-term supplies of cobalt, a vital component of rechargeable batteries, as the group accelerates its ambitious shift to electric cars. Cobalt industry sources told that VW, the world’s largest automaker, has asked producers to submit proposals on supplying the material for up to 10 years from 2019. Volkswagen, which decided on the strategic shift to electric vehicles (EVs) after it was engulfed in the “dieselgate” scandal, plans…"Exclusive: VW moves to secure cobalt supplies in shift to electric cars"
LONDON – Electric cars such as the Nissan Leaf may look no different from the standard family runaround. But the new materials that go into them could revolutionize the market for metals used in the industry, opening up a new field for commodities investors. “We identified electric vehicles as an area where we are at an inflection point for demand,” said Duncan Goodwin, portfolio manager of the Baring Global Resources Fund. Around 12 percent of…"Electric car revolution brightens outlook for a medley of metals"