Glencore doubles down on cobalt

Caspar Rawles asks what the new deal really means for the conglomerate’s future in energy storage

Glencore has strengthened its position in cobalt and copper. The mining and trading conglomerate purchased increased stakes in the Mutanda and Katanga copper/cobalt mines in which they already had a majority share.

On the face of it, the deal was expected and logical. The mining and trading conglomerate has made a complete turn-around from the commodities crisis through a process of slashing debt and selling assets.

With prices showing signs of life in many industries, and none more so . . .

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