A surplus of cobalt chemicals used to make the rechargeable batteries that power electric vehicles has seen Chinese refiners switch to producing metal, sending prices down 30 percent in recent months.
Two large shareholders in Canada's Ecobalt Solutions Inc are calling for a change in senior management or the launch of a sales process, saying ongoing mine development delays are wasting a windfall from high battery sector demand.
Locking in supplies of key battery raw materials lithium and cobalt has been a headache for electric car manufacturers, but these days it’s the supply of nickel and graphite that’s keeping them up at night.
