RE:RE:GEM deal is huge and will cause a shortage
Glencore knows exactly what it is doing. It’s incredibly rare for one miner to have such a large stranglehold over planned incremental increase in supply for one commodity. Signing two contracts that commits circa 50% of this new supply AND closing Mutanda is a huge wake up call for the market. Glencore wants the Cobalt price MUCH higher than where it is right now and they have the power to do it.