๐๐๐Battery Manufacturers Racing to Source Cobalt๐๐๐/arc-anglerfish-tgam-prod-tgam.s3.amazonaws.com/public/URNYU5GBKVCUPF5KBTG66IFL6Y.JPG)
https://theinsidercarnews.com/2018/02/21/battery-manufacturers-racing-to-source-cobalt/ is one of the planet's largest hoarders of cobalt, but until recently, it has purchased it via its battery manufacturers. The challenge is that with the growth of electric and hybrid vehicles gobbling ever larger amounts of the metal, Cupertino fears a shortage that could hurt its sales figures. Apple Inc is in talks to buy long-term supplies of cobalt for iPhone batteries directly from miners, Bloomberg reported on Wednesday (Feb 21), citing sources. There is a growing demand for the mineral coming from electric cars which run on lithium ion batteries, but now around 25% of cobalt production is bought by smartphone companies. Apple is not the only company seeking long-term cobalt supply deals: BMW has been seeking its own 10-year deal for its electric vehicle program. Electric cars in particular are expected to see global demand for cobalt more than double by 2025, and more than quadruple by 2030. Samsung SDI has developed the technology to reduce cobalt in batteries down to 5 percent by expanding the use of nickel by more than 90 percent. Apple declined to comment on the report. Glencore Plc's Chief Executive Officer Ivan Glasenberg late past year named Apple among several companies the miner was talking to about cobalt, without giving further details. About 60 percent of the world's cobalt supply comes from the Democratic Republic of the Congo, and about 20 percent of it is mined by hand by children, Amnesty International reported in 2016. In recent years, Apple has stepped up its engagement with cobalt suppliers after the origin of the metal in its supply chain came under scrutiny from human rights groups. Apple said last March it would stop buying cobalt mined by hand in the Congo following reports of child labor and risky work conditions. Last year, Apple published a list of the companies that supply 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 until it could verify that the "appropriate protections" were in place. The Insider Car News https://theinsidercarnews.com/2018/02/21/battery-manufacturers-racing-to-source-cobalt
is one of the planet's largest hoarders of cobalt, but until recently, it has purchased it via its battery manufacturers. The challenge is that with the growth of electric and hybrid vehicles gobbling ever larger amounts of the metal, Cupertino fears a shortage that could hurt its sales figures. Apple Inc is in talks to buy long-term supplies of cobalt for iPhone batteries directly from miners, Bloomberg reported on Wednesday (Feb 21), citing sources. There is a growing demand for the mineral coming from electric cars which run on lithium ion batteries, but now around 25% of cobalt production is bought by smartphone companies. Apple is not the only company seeking long-term cobalt supply deals: BMW has been seeking its own 10-year deal for its electric vehicle program. Electric cars in particular are expected to see global demand for cobalt more than double by 2025, and more than quadruple by 2030. Samsung SDI has developed the technology to reduce cobalt in batteries down to 5 percent by expanding the use of nickel by more than 90 percent. Apple declined to comment on the report. Glencore Plc's Chief Executive Officer Ivan Glasenberg late past year named Apple among several companies the miner was talking to about cobalt, without giving further details. About 60 percent of the world's cobalt supply comes from the Democratic Republic of the Congo, and about 20 percent of it is mined by hand by children, Amnesty International reported in 2016. In recent years, Apple has stepped up its engagement with cobalt suppliers after the origin of the metal in its supply chain came under scrutiny from human rights groups. Apple said last March it would stop buying cobalt mined by hand in the Congo following reports of child labor and risky work conditions. Last year, Apple published a list of the companies that supply 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 until it could verify that the "appropriate protections" were in place. The Insider Car News https://theinsidercarnews.com/2018/02/21/battery-manufacturers-racing-to-source-cobalt