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FortuneJimon Feb 21, 2018 9:39am
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Today’s Fortune Cobalt News
Today’s Fortune Cobalt News | |
| Click on blue article title to read full story. | | | | Cobalt | | | | Bloomberg - February 21, 2018 iPhone maker one of the largest end users of the metal Cobalt is a key ingredient in mobile phone batteries the cobalt used in its batteries for the first time, and said it would not let cobalt from small-scale mines in Congo into its supply chain Apple Inc. is in talks to buy long-term supplies of cobalt directly from miners for the first time… The iPhone maker is one of the world’s largest end users of cobalt for the batteries in its gadgets, but until now it has left the business of buying the metal to the companies that make its batteries….with the rapid growth in battery demand for electric vehicles threatening to create a shortage of the raw material. About a quarter of global cobalt production is used in smartphones…The move means Apple will find itself in competition with carmakers and battery producers to lock up cobalt supplies. Companies from BMW AG and Volkswagen AG to Samsung SDI Co. are racing to sign multiyear cobalt contracts to ensure they have sufficient supplies of the metal to meet ambitious targets for electric vehicle production…Cobalt is an essential ingredient in lithium-ion batteries for smartphones. While those devices use about eight grams of refined cobalt, the battery for an electric car requires over 1,000 times more. | | The Business Times (Free Content) - February 20, 2018 [LONDON] Cobalt is hitting historically high prices fuelled by the automobile industry, which needs the rare metal to make light and... the rare metal to make light and durable electric batteries. The price per tonne of cobalt rose to US$82,000 on the London Metal Exchange However, the rapidly growing demand has not yet peaked, according to Darton Commodities, which specialises in the sale of cobalt…"During 2017, lithium-ion batteries used in portable consumer electronics still consumed around 72 per cent of total cobalt consumed in (lithium-ion batteries)," Darton Commodities said, adding however that this share was likely to decline because of growth in the auto sector…Another reason for market interest is that cobalt is largely produced as a by-product of copper and nickel mines. The amount of cobalt in every tonne of ore mined is so small that it takes a high concentration to make the activity profitable…"As a result, the global proven reserves of cobalt are dependent on the economic viability of the relevant copper and nickel mines," cautioned analysts at Natixis…A fall in copper or nickel prices could therefore hamper existing cobalt operations before other mines could be brought online to compensate for such a decline in production. | | | | | EVs & Energy Storage | | | | Bloomberg - February 20, 2018 Mitsubishi Corp. could secure materials for EV batteries Trader to double stake in Nissan-partnered Mitsubishi Motors company, which also owns mining assets, could be able to secure the lithium, cobalt, rare earths and other battery metals necessary for the Nissan Motor Co. may get a boost from a deepening relationship with Japan’s biggest trading house as access to battery materials becomes a priority amid the industry’s push into electric vehicles…The trading company, which also owns mining assets, could be able to secure the lithium, cobalt, rare earths and other battery metals necessary for the expanding EV business being developed by Nissan and its partners…The Mitsubishi-Nissan connection may reap benefits similar to other Japanese companies like Toyota Motor Corp., whose trading arm -- Toyota Tsusho Corp. -- recently took a stake in an Australian lithium miner | | Fleet News - February 21, 2018 Expected future uptake of electric vehicles could see oil demand peak by 2030, according to research by Fitch Ratings. The research and... Expected future uptake of electric vehiclescould see oil demand peak by 2030, according to research by Fitch Ratings. The research and "By considering a scenario where EVs cost and range are comparable to ICEs (internal combustion engines), consumers prefer driving EVs, policymakers mandate and support electrification, and carmakers see cost benefits of focusing on one drivetrain, it is not unreasonable to expect global EV stock by 2040 of more than 1 billion, or more than half the vehicles on the road…"Applying it to oil demand, shows oil demand peaking in 2029." | | Yahoo Finance UK - February 21, 2018 Enel Green Power Germany, a subsidiary of multinational energy business Enel, has signed an agreement to build and manage a 22-megawatt... with ENERTRAG, a German wind energybusiness, and Leclanche, a Swiss company specializing in energy storage solutions. Around 17 million Enel Green Power Germany, a subsidiary of multinational energy business Enel, has signed an agreement to build and manage a 22-megawatt (MW) lithium-ion battery storage plant in Cremzow, Brandenburg…Around 17 million euros ($20.94 million) will be invested in what will be Enel's first energy storage plant in Germany…"The project in Cremzow is an important milestone for us because, after the success of similar projects in Italy and Chile, it will further demonstrate how beneficial storage is for energy systems, in particular when coupled with renewables," | | | | | | |