| Click on article title to read full story. | | | | Cobalt | | | | Metal Bulletin - April 30, 2018 Spot demand for cobalt slowed in late April while availability of the material increased, leaving metal prices to move only slightly higher... .45 per lb at the end of the previous week. Prices for high-grade cobalt metal fared similarly over the course of the week, assessed at $43. Prices for high-grade cobalt metal fared similarly over the course of the week, assessed at $43.70-44.55 per lb on Friday | | Cetusnews.com - April 30, 2018 The commodities industry has been focused on the crisis surrounding Rusal, the Russian aluminium producer, but a number of disputes entail... the world’s cobalt production — a key material needed for the batteries that power electric cars. Glencore plans to boost cobaltproduction “Political risk has gone from being little thought about to being a major concern,”…In the DRC, President Joseph Kabila has signed into law a new mining code that will lead to higher taxes and royalties on foreign miners…The resource-rich country is Africa’s biggest copper producer but also is responsible for 60 per cent of the world’s cobalt production — a key material needed for the batteries that power electric cars…But last week state miner Gcamines started legal action to dissolve its largest mine in the country, the Kamoto Copper Company, claiming it had failed to reduce billions of dollars of intercompany debt, which had hindered its ability to pay dividends…Then on Friday, Glencore’s former business partner Israeli businessman Mr Gertler filed an order to freeze Glencore’s assets in the country, saying he is due almost $3bn in royalty payments…“Gertler and Gcamines have been operating as a controversial tandem for over a decade, engaging in countless deals for over a dozen different joint-ventures. Given the deep-rooted record of co-operation, it is hard to imagine that their actions of last week are disconnected,” said Elisabeth Caesens, director of the Brussels-based non-profit Resource Matters… “Any proceedings that hinder Glencore’s ability to produce at these subsidiaries could lead to disruptions and higher metal prices,” said JPMorgan analyst Dominic O’Kane. | | | | | EVs & Energy Storage | | | | Cetusnews.com - April 30, 2018 Vasteras’s role in electrical technology started almost two centuries ago. Now the Swedish town — birthplace in 1833 of ASEA, a maker of... battery-grade lithium hydroxide for its plant. A secure supply of cobalt and lithium supplies is an important current focus for battery Northvolt, a start-up that plans to produce lithium ion batteries, on Friday announced it would build a €100m demonstration line and research facility in Vasteras… “the first step in our longer journey”: building a plant to produce 32 GWh of lithium ion battery capacity annually and rival the Asian giants that dominate the battery arms race…Northvolt is one of 80 stakeholders in the European Battery Alliance, an initiative launched last year by Maros Sefcovic, European Commission vice-president in charge of energy, to accelerate battery production in the EU…Battery technology for vehicles is viewed as particularly important if one of Europe’s most important industries is to emerge from the shadow cast by the VW “dieselgate”scandal and remain at the heart of the region’s industrial base...“If the engine of the combustion car was the most precious part of the car, in future it will be batteries and software.”…Batteries will also be needed to store energy as power generation — shifting rapidly away from fossil fuels — relies more on intermittent renewable sources...The EU initiative includes companies from across the supply chain: BASF and Belgian chemicals group Solvay, European carmakers Volkswagen, BMW, Mercedes-Benz and Renault, and German conglomerate Siemens. In addition to Northvolt, TerraE, a German consortium, and French battery maker Saft both plan battery cell factories in Europe…A secure supply of cobalt and lithium supplies is an important current focus for battery manufacturers, although higher prices will probably encourage investment in new mines over the longer term…“I hope that we will be having good news like this Northvolt announcement every quarter or half a year [from now on], because what we need is something between 10 to 20 gigafactories in Europe,” | | Reuters US News - April 30, 2018 April 30 (Reuters) - Moody’s: * MOODY’S SAYS METALS SUPPLY SHORTFALL COULD SLOW NEAR TERM BATTERY ELECTRIC VEHICLE GROWTH * MOODY’S SAYS... METAL AVAILABILITY * MOODY’S SAYS NICKEL, COBALT SUPPLIES ARE ALSO EXPECTED TO BE INSUFFICIENT TO SUPPORT GROWING DEMAND FOR BATTERY MOODY’S SAYS METALS SUPPLY SHORTFALL COULD SLOW NEAR TERM BATTERY ELECTRIC VEHICLE GROWTH…MOODY’S SAYS NICKEL, COBALT SUPPLIES ARE ALSO EXPECTED TO BE INSUFFICIENT TO SUPPORT GROWING DEMAND FOR BATTERY PRODUCTION…MOODY’S SAYS WHILE STRONG DEMAND FUNDAMENTALS WITH TIGHTENING SUPPLY LEVELS WILL DRIVE METAL PRICES HIGHER, THAT WILL LIKELY COME WITH HEIGHTENED VOLATILITY | | Moody's - April 30, 2018 New York, April 30, 2018 -- Metals supply constraints could slow battery electric vehicle (BEV) production rates in the near term, Moody's... new report. Demand for lithium, cobalt, copper and nickel, all elementary metals used in the production of electric batteries, is rising as Metals supply constraints could slow battery electric vehicle (BEV) production rates in the near term, Moody's Investors Service says in a new report. Demand for lithium, cobalt, copper and nickel, all elementary metals used in the production of electric batteries, is rising as automakers accelerate manufacturing of BEVs…Nickel and cobalt supplies are also expected to be insufficient to support growing demand for battery production, another constraining factor on near term BEV growth…Moody's says that significant investment in exploration and development of new mines will be necessary to meet the rising metal demand. Capital spending, which Moody's expects major producers to increase 15% in 2018, remains modest, and projects in development are not seen as sufficient to meet expected demand from the growth in BEV's over the near-term. | | | | | Congo | | | | CNN Money - May 1, 2018 Is there such a thing as an ethical electric car? Car and tech companies are scrambling for supplies of cobalt, a mineral they need to... and the wealth big companies reap from the region's cobalt. Congo governor on artisanalcobalt mining: 'We have nothing to hide' (Read Car and tech companies are scrambling for supplies of cobalt, a mineral they need to power electric vehicles and smartphones. But they have a problem: Much of the cobalt used in lithium-ion batteries comes from a country where children work in mines…A CNN investigation has found that child labor is still being used to mine the valuable mineral at some operations in the Democratic Republic of Congo (DRC). This country produces about two-thirds of the world's cobalt and is estimated to sit atop half of the globe's reserves…BMW, Volkswagen and Mercedes-owner Daimler acknowledged how difficult it is to verify the source…"A further step could be to purchase directly from miners, which is an option we are looking into," BMW told CNN…CNN contacted several other companies to ask how they ensured child labor was blocked out of their supply chain…The firms listed various initiatives and industry standards they follow, but most did not provide full details about their suppliers…More than half of all cobalt passes through China at some point in the supply chain, according to Darton Commodities. Click on article title to access 7:53 video. | | | | | | |