Company approved the final construction and development of its cobalt operations in the US state of Idaho, with the first production expected in mid-2022.

The Japanese firm will hike production capacity of cathode materials for rechargeable batteries used in EVs to meet burgeoning demand.

“We don’t have these resources in Europe, or very little” of them, Eramet CEO Christel Bories said in an interview.

The Pacific island nation has notified a United Nations body of plans to start deep-sea mining, giving the International Seabed Authority two years to complete long-running talks on rules governing the new and controversial industry.

China's Wuxi Stainless Steel Exchange said trading in its new lithium contract would begin next week.