Canada’s First Cobalt buys US explorer, creates key supplier outside Congo
The blended company will have projects in Ontario and Idaho which, once in operations, could be major cobalt suppliers for EVs makers and high tech firms.
The blended company will have projects in Ontario and Idaho which, once in operations, could be major cobalt suppliers for EVs makers and high tech firms.
It is the second time the world-famous mining school has hosted the illustrious event, having previously welcomed some of the world’s best and brightest mining students to Cornwall in 2012. It also sees the games return to the mining landscape where many of the techniques on show were developed.
The world’s largest carmaker will equip 16 factories to produce electric vehicles by the end of 2022, compared with three currently.
Samsung C&T has approached Somika SPRL to buy cobalt produced at its Kisanfu mine in Congo after only buying copper from the company for the past four years.
Chile’s antitrust regulator FNE will need to review the complaint.
The exchange is instead looking at offering a cash-settled cobalt metal contract.
The EV story is a strong, slow-burn bull case for higher nickel prices.
A new mining code in the cobalt-rich Congo will lead to higher costs for consumers of the battery metal at a time automakers are expanding production of electric vehicles, experts say.
The car industry is moving towards making electric car batteries with a higher ratio of nickel.
Price is a sticking point as Glencore and other major producers are now able to exert more influence in negotiations, sources said.