cobalt

The latest study from the Cobalt Institute shows that the global demand for cobalt exceeded 200,000 tons for the first time in 2024, marking a 14% annual increase. However, it was the third consecutive year in which supply additions outpaced demand growth, resulting in a market surplus of 36,000...

The United States is considering a potential partnership with the Democratic Republic of Congo (DRC) to secure access to critical minerals, following discussions initiated by a senior Congolese official. According to the Financial Times, the DRC proposed a minerals-for-security deal, offering...

Chinese state-owned miner MMG has mothballed production at its cobalt processing plant in the Democratic Republic of Congo just 15 months after starting the operation. What Happened: According to Bloomberg, the Chinese miner cited "unfavorable cobalt market conditions" as the primary reason for...

The United Nations issued a warning about the escalating conflict in the Democratic Republic of Congo (DRC), with fears that the violence could spread across the region. What Happened: Volker Türk, the UN High Commissioner for Human Rights, addressed the Human Rights Council, calling for immediate...

US Strategic Metals (USSM), a private company formerly known as Missouri Cobalt, has received a non-binding Letter of Interest from the Export-Import Bank of the United States (EXIM Bank) for a potential $400 million debt funding package for Madison, their flagship cobalt mining project. The loan,...

Tesla Inc CEO Elon Musk on Thursday denied allegations that the use of cobalt in EVs is leading to human rights violations including child labor. What Happened: Unlike cellphone and laptop batteries that use cobalt, most electric cars use none, Musk said. “Those that do use cobalt, use very...

Apple, Inc. (NASDAQ:AAPL) announced Thursday that it would accelerate efforts to expand the use of recycled materials across its products and this includes using 100% recycled cobalt in all Apple-designed batteries. What Happened: Apple's drive toward increasing the use of recycled materials along...

Volkswagen Group (OTC: VWAGY) said on Monday its China subsidiary will set up two joint ventures, with Huayou Cobalt and Tsingshan Group, to secure nickel and cobalt for making electric-vehicle batteries.  What Happened: The joint ventures will be both...

According to a report by Fitch Solutions, cobalt will get a substantial lift thanks to the global shift towards a green economy. Short and mid-term, the metal will be boosted by China’s acceleration of electric vehicle (EV) production, while Europe’s EV adoption will maintain the metal...

Ford Motor Co (NYSE: F) CEO Jim Farley said he believes automakers need to plow through challenges to make electric vehicles affordable for the average buyer, The Detroit News reported on Saturday, citing a live-streamed Detroit Homecoming VIII interview. What Happened: Farley noted key issues like...

China’s Contemporary Amperex Technology Co. Limited or CATL, a battery supplier to Tesla Inc. (NASDAQ: TSLA) and Nio Inc. (NYSE: NIO), is exploring acquiring a nearly 10% stake in Chinese miner Jinchuan Group International Resources Co., Bloomberg reported Wednesday. What Happened: CATL could...

Tesla Inc. (NASDAQ: TSLA) battery supplier LG Energy Solution said it has entered into a six-year deal with an Australian mining company for the stable supply of key battery materials - cobalt and nickel. What Happened: LG Energy, a subsidiary of South Korea-based LG Chem, said it will purchase 71,...

Sectors such as aerospace and manufacturing were negatively impacted by COVID-19, but the battery sector continued to grow. That’s big news for cobalt, one of the key metals included in battery production. Batteries now account for 57% of total cobalt demand. Since 2013, demand from the...

Tesla Inc (NASDAQ: TSLA) expects to spend more than $1 billion annually over the next few years to source key battery materials from Australia due to its reliable mining industry and responsible production practices, Reuters reported on Wednesday.  What Happened: Tesla, like its rivals, is...

The electric vehicle sector is set to explode over the next 10 years and the U.S. is looking to create a supply chain with Canada. What Happened: Tesla Inc (NASDAQ: TSLA), Talon Metals Corp. (OTC: TLOFF) and Livent Corp (NYSE: LTHM) were among 30 EV and battery manufacturers, in addition...