Trafigura and EVelution Energy plan to develop cobalt plant

Commodities trader Trafigura has signed a memorandum of understanding with US electric vehicle battery materials company EVelution Energy to support development of a battery-grade cobalt sulphate processing plant in Arizona.

With expected annual capacity of 7,000 tonnes of cobalt, the facility will be able to meet 40% of expected 2027 cobalt demand in relation to US production of electric vehicles, the companies said. EVelution Energy is expected to start construction of the plant in late 2023.