UPDATE one-Chinese control of cobalt supply is danger for vehicle industry - Glencore

referring to I think it's because the vehicle industry has never had a supply chain crisis before," Glasenberg told the FT Commodities universal Summit in Lausanne, Switzerland. Glasenberg said he was nevertheless prepared to purvey cobalt mines in the Democratic Republic of Congo to China if the value was perfect. further than 60 % of universal cobalt produce comes from the DRC. Glencore, the world's biggest Maker, agreed final 7 days to purvey a 3rd of its product to China's GEM. GEM & its subsidiaries going to purchase 13,800 tonnes of cobalt from Glencore this year, 18,000 tonnes following year & 21,000 tonnes in 2020.

Chinese control of cobalt supply danger for European Union vehicle industry - Glencore

LONDON (Reuters) – Glencore chief executive Ivan Glasenberg said which the automotive industry is waking up also late to the reality which the Chinese going to hold generality of the world's universal cobalt supply, a key metal for EV (EV) batteries. "If cobalt falls in hands of the Chinese, yeah you won't see EVs being produced in Europe. About 70 % of universal cobalt produce comes from the Democratic Republic of Congo. Glencore, the world's biggest Maker, agreed final 7 days to purvey a 3rd of its product to China's GEM. Glasenberg said he was nevertheless prepared to purvey cobalt mines in the DRC to China if it came by a sogood value.

Chinese control of cobalt supply is danger for vehicle industry - Glencore

As it stated in "If cobalt falls into the hands of the Chinese, yeah you will not see EVs being produced in Europe etc. I think it's because the vehicle industry has never had a supply chain crisis before," Glasenberg told the FT Commodities universal Summit in Lausanne, Switzerland. further than 60 % of universal cobalt produce comes from the DRC. GEM & its subsidiaries going to purchase 13,800 tonnes of cobalt from Glencore this year, 18,000 tonnes following year & 21,000 tonnes in 2020. Reuters announced final year which Chinese battery producer Contemporary Amperex Technology Co Ltd (CATL) had agreed a bargain late in 2016 to purchase Big amounts of cobalt from Glencore.

collected by :Catlin Logan