| Click on blue article title to read full story. | | | | Cobalt | | | | Reuters Canada - March 19, 2018 Nervous Asian battery makers are turning to early-stage cobalt projects in Australia and Canada to lock in supplies of the critical battery “With over 85 percent of new global cobalt supply over the next decade coming from Africa, in a region where the Chinese have entrenched relationships, the Korean and Japanese cobalt processing industries are very focused upon Australian and Canadian projects.”…At least half a dozen Australian and Canadian mine developers are currently in talks on potential supply deals with battery and automakers for production at some point beyond late 2019-2021, company executives told Reuters…Fortune Minerals said it has signed 25 confidentiality agreements…“There’s still a lot of upside in any cobalt supply that is ex-DRC,” said James Eginton, an investment analyst with Sydney’s Tribeca Global Natural Resources Fund… “The challenges of the DRC make anything that comes out of anywhere else a lot more attractive.” | | Unknown - March 19, 2018 Lithium mostly hits the headlines in debate about increasing battery production, but it's probably not presently the mineral that worries the industry most. That distinction likely goes to cobalt, for a few reasons. It is - with today's technology - a vital part of lithium-ion batteries, which are those used in smartphones, laptops and other devices, including, importantly, the current generation of electric vehicles and plug-in hybrids…The problem with cobalt is that the designers of the planet chose to put lots of it in the Democratic Republic of Congo (DRC) and make it a by-product of (mainly) copper and nickel. That was very unhelpful of them, and creates issues that should concern all of us… Apple, Mercedes, BMW, Toyota, Tesla: These are the companies that really have clout in this business and are the ones who can start throwing their weight around. And it is beginning to happen. Apple are openly talking about taking responsibility for their own cobalt purchases. Currently, it's the battery manufacturers who make those purchases; Apple are seemingly intending to take that responsibility away and buy it themselves. I understand BMW are also looking at the same route, and I find it difficult to believe that the other majors would not do the same, since for sure they would rather have control of the purchase of expensive, price-volatile commodities. | | Bloomberg - March 14, 2018 China’s GEM Co. gets three-year deal to secure Glencore supply Australian lithium miner in takeover talks with Chinese firm China is first out of the blocks in the global race to secure raw material supplies critical for the batteries that will power the electric vehicles of the future. Glencore Plc, the world’s top cobalt producer, agreed to sell about a third of its output of the metal to Chinese supplier of battery chemicals GEM Co., the Shenzhen-listed company said in a filing… “It tells us once again that it is China rather than the western world who properly understands the raw material requirements and value of global vehicle electrification,” Paul Gait, an analyst at Sanford C. Bernstein Ltd. in London, said in a note. "They clearly get it; the West doesn’t seem to at the moment.”…The biggest automakers are caught in an arms race to develop technology and supply chains needed to overhaul their gasoline and diesel fleets and roll out more electric cars over the next decade. ..Volkswagen on Tuesday said it’s seeking to produce 3 million battery-powered vehicles a year by 2025. The plans are backstopped by deals with leading battery suppliers Samsung SDI Co., LG Chem Ltd. and Contemporary Amperex Technology Ltd., sufficient for the first wave of production, Chief Financial Officer Frank Witter told Bloomberg TV. | | Bloomberg - March 13, 2018 Samsung C&T has approached Somika to secure cobalt supplies Cobalt prices have more than tripled since the start of 2016 Samsung C&T Corp., an affiliate of the world’s biggest smartphone maker, is in talks for a multi-year deal to buy cobalt from a Congolese miner, joining Apple Inc. in the global rush to secure supplies of the metal at the heart of the electric-car boom…Cobalt is an essential ingredient in rechargeable lithium-ion batteries that go into modern gadgets. While smartphones use about eight grams of refined cobalt, the battery for an electric vehicle requires over 1,000 times that. Two-thirds of global cobalt supply comes from Congo, where there has never been a peaceful transition of power and child labor is still used in parts of the mining industry. | | Reuters UK - March 10, 2018 DAESAN, South Korea (Reuters) - LG Chem (051910.KS), South Korea’s largest chemical company, sees the global petrochemical market being... South Korea’s largest chemical company, sees the global petrochemical market being stable this year, and is diversifying its products to guard against falling plastic usage, the company’s chief executive said Apart from the petrochemical business, LG Chem is also one of the major South Korean battery makers, along with Samsung SDI and SK Innovation…LG Chem was on the lookout for ways to secure stable supplies of metals such as nickel and cobalt used in EV batteries, including joint ventures, he added…“We could consider cooperating with companies which have such metals or, if needed, a joint venture or a long-term deal, and we are making a lot of plans for the next few years,” he said. | | MSN.com - March 16, 2018 © Provided by Dow Jones & Company, Inc. Apple Chief Executive Tim Cook has billions to burn Apple has promised to spend $163 billion in... . For example, the company may be interested in buying cobalt directly from miners and locking in prices for an extended period, according Apple has promised to spend $163 billion in cash, leading to breathless speculation about large acquisitions…Under Cook, Apple has taken steps to better control its supply chain, including buying its own industrial machinery so that machines can’t be used to make parts for competitors…Apple could look to the supply chain as it winnows down its net cash balance. For example, the company may be interested in buying cobalt directly from miners and locking in prices for an extended period, according to a recent Bloomberg report. Cobalt is used to make batteries and prices for the material have soared amid booming demand for electric vehicles. GBH Insights analyst Daniel Ives estimates that Apple could save $500 million to $1 billion over the next three-to-four years by locking in cobalt prices…Sourcing cobalt directly could also help Apple “improve environmental standards of the production of raw materials,” Forrester analyst Frank Gillett told MarketWatch, as the company could “finance or encourage suppliers who adhere to better environmental and labor standards.” | | Metal Bulletin - March 19, 2018 Key data from the Friday March 16 pricing session in Shanghai. Cobalt Metal MB China domestic min 99.8% RMB/tonne Key drivers - The Metal Bulletin-assessed Chinese cobalt (min 99.8%) price jumped to The Metal Bulletin-assessed Chinese cobalt (min 99.8%) price jumped to 665,000-680,000 yuan per tonne (equivalent to $40.72-41.64 per lb, ex-China value-added tax) on March 16 | | | | | EVs | | | | Argus Media - March 14, 2018 Panasonic starts EV battery production at Dalian plant London, 14 March (Argus) — Japanese electronics manufacturer Panasonic has begun... Japanese electronics manufacturer Panasonic has begun mass production and shipping of lithium battery modules for electric vehicles (EV) from its new plant in Dalian, China. The move comes as part of a global expansion of Panasonic's lithium-ion battery business…Panasonic is not the only company looking to capitalise on growing Asia-Pacific demand for EVs. German automaker Daimler said today that its Mercedes-Benz division will begin lithium-ion battery production in Thailand in collaboration with local partner Thonburi Automotive Assembly Plant. | | Nikkei Asian Review - March 13, 2018 Automaker signs $25bn contracts with Chinese and South Korean battery makers Volkswagen will expand electric vehicle production to 16 plants and widen partnerships with battery makers as the German automaker seeks to hit its sales target of 3 million electric cars a year by 2025…The automaker said it awarded lithium-ion battery contracts worth about 20 billion euros ($24.8 billion) to South Korean and Chinese companies. CEO Matthias Muller named LG Chem, Samsung SDI and China's Contemporary Amperex Technology as suppliers. The German manufacturer said it will decide on a North American supplier soon. | | | | | Congo | | | | Unknown - March 19, 2018 LONDON (Reuters) - Democratic Republic of Congo will declare cobalt and coltan, used in electric vehicle and renewable energy technology, as “strategic” minerals which will earn the country higher royalties, an advisor to the prime minister said on Wednesday. Royalties paid to the government from cobalt and coltan mining will jump to 10 percent from 2 percent previously. Miners of the two metals used in batteries, would have paid a royalty of 3.5 percent under the new code if they had not been designated as strategic…International mining companies have said the new mining code will deter foreign investment but have agreed to start negotiations with the government over measures to implement the code…The code also removes a clause that protected miners from changes to the fiscal and customs regime for 10 years and raises royalties and taxes across the board. | | The Philadelphia Tribune - March 17, 2018 MULDERSDRIFT, South Africa — A top Congolese opposition leader and other figures opposed to longtime President Joseph Kabila met in South... of its people. It is a major copper producer and the world’s largest producer of cobalt, a mineral used in lithium-ion batteries. — (AP) A top Congolese opposition leader and other figures opposed to longtime President Joseph Kabila met in South Africa on Monday to build a coalition ahead of long-delayed elections in the turbulent, resource-rich country… While Katumbi is one of Congo’s most prominent opposition leaders, there are concerns about whether he can effectively run a political campaign if he returns home. Katumbi was sentenced to three years in prison in absentia over allegations of real estate fraud; Kabila has insisted that Katumbi should face justice…Last week, the U.N. Security Council condemned violence during nationwide protests in Congo in February against Kabila’s extended rule and urged all parties to ensure that a presidential election occurs Dec. 23. Kabila’s mandate ended in December 2016 and he agreed to set an election by the end of 2017, but Congo’s election commission said the vote couldn’t be held until the end of this year. | | | | | | |