Cobalt earthquake sends shockwaves to automakers

August 2019 saw Glencore announce that it would close its Mutanda mine in the Democratic Republic of Congo (DRC) and China’s Huayou Cobalt’s announcement that it plans to pull out of a deal to invest in a DRC cobalt operation. Here we look at the seismic developments that have shifted the cobalt market.
The pressures of the 15-month price slump on cobalt producers was cited by Glencore as one of the driving forces for its decision to place the world’s biggest cobalt mine by production – its Mutanda operation, responsible for 20% of global supply . . .

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