GLENCORE-GEM REVAMPED DEAL COULD LEAVE EV MAKERS SHORT OF SUSTAINABLE COBALT

Glencore’s revamped deal with GEM could leave electric vehicle makers short of sustainable cobalt. Benchmark looks at what this deal means to the market.

In October Glencore announced a revamped deal with the world’s largest precursor producer, GEM Co Ltd, for cobalt hydroxide that equates to 61,200 tonnes of contained cobalt for a five-year period between 2020 and 2024.

Benchmark Mineral Intelligence estimates that the deal is for 25% of Glencore’s forecasted cobalt hydroxide production in the contracted time period, and it comes on the back of the commodity group’s closure of one of . . .


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