GRAPH: Cobalt price plunge and the EV market
Inflation adjusted cobalt prices are the lowest in 100 years after a deluge of new supply. Stagnating demand from EVs only adds to the bear case.
Top copper mine Las Bambas, controlled by miner MMG in Peru, expects to produce some 400,000 metric tons of the red metal in 2025, the Andean nation’s energy and mines ministry said on Wednesday.
Ministry officials met with Las Bambas executives to discuss progress on their operations, the ministry said on X. The business leaders reportedly said that the Chalcobamba pit mine, part of Las Bambas, would play a key role in output this year.
(By Kylie Madry; Editing by Aida Pelaez-Fernandez)
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